HS Hyosung has agreed to acquire EMM, the battery anode materials subsidiary of Belgian materials giant Umicore, in a deal valued at approximately €120 million (about KRW 200 billion), and will form a joint venture with Umicore to commercialize silicon anode technologies.
Founded in Belgium with more than a century of history, Umicore is a global leader in advanced materials and technologies serving battery, catalyst, semiconductor, defense and aerospace industries. The deal positions HS Hyosung to make a strategic entry into the silicon anode market, a sector widely regarded as a core component of next‑generation batteries.
Silicon anodes offer significantly higher energy density than conventional graphite anodes—up to ten times greater in some assessments—making them a key material for the next wave of battery innovation.
The acquisition aligns with the value‑centric management philosophy of HS Hyosung Vice Chairman Cho Hyun‑sang, who has emphasized building businesses around core technologies and intellectual property. Sources say Cho visited Umicore multiple times prior to the pandemic and remained deeply involved in the finalization of the deal, engaging in late‑night negotiations with executives even while serving as chair of the APEC Business Advisory Council (ABAC) in late October.
HS Hyosung plans to invest an additional KRW 1.5 trillion over the next five years to build large‑scale silicon anode production facilities, with the first production hub set in Ulsan, South Korea.
A company spokesperson said the investment in next‑generation battery materials will be a turning point in strengthening South Korea’s industrial competitiveness and that the joint venture is expected to contribute to stabilizing global supply chains across key sectors including semiconductors, shipbuilding and defense.
