SK Nexilis will invest 120 billion won, or US$97 million, into expanding one of its copper foil factory, the company announced.
The factory, dubbed Factory 6, at Jeongeup, North Jeolla Province will produce 9,000 metric tonnes of copper foil per year when construction is completed in the first quarter of 2022, the company said.
SK Nexilis, a subsidiary of SKC, will have a total production capacity of 52,000 metric tonnes per year when the expansion is complete.
It secured annual production capacity of 34,000 metric tonnes with the completion of the expansion of Factory 4 earlier this year. In March, the company announced it was expanding Factory 5, which will be completed in the third quarter of 2021.
It was also considering expanding its factories abroad to meet customer demands from the US, Europe and Asia faster.
SK Nexilis said it foresees rising demand for copper foil from electric vehicles. Ultra-thin copper foil is essential to make batteries lighter with more energy capacity, it said.