Umicore sets up rechargeable battery research lab in S. Korea

Belgium-based Umicore N.V. has completed its research laboratory for rechargeable battery materials in central South Korea that could help promote the local industry, the industry ministry said Tuesday.

Umicore's central technology center is based in Cheonan, about 90 kilometers south of Seoul, and serves as the company's Asian hub for research and development of key materials for next-generation rechargeable batteries, according to the Ministry of Trade, Industry and Energy.

Umicore, an international materials technology company, will invest 36 billion won ($28.2 million) in the center, the largest among its research labs around the globe, until 2025, which will likely create about 100 new jobs.

Umicore's technology center marks the fourth research lab that foreign companies have established here in line with Seoul's efforts to attract research centers of companies engaging in advanced industries, the ministry said.

A ministry official said Umicore's technology center is expected to help contribute to securing original technologies for key rechargeable battery materials, nurturing researchers and setting up a stable supply network down the road. (Yonhap)