Korea Zinc Inc., the world’s top lead and zinc smelter based in South Korea, has announced plans to establish its second research and development center in Incheon’s Songdo International Business District by 2027. This move aligns with the company’s strategic pivot towards sustainable and next-generation materials, including battery materials and green hydrogen.
The planned R&D facility, representing an investment of approximately 200 billion won ($146 million), is set to cover a total floor area of 29,444 square meters. With construction slated to begin next year following the approval of plans this year, the center aims to commence operations by April 2027. This new hub will complement the existing R&D center in Onsan, Ulsan, which primarily focuses on non-ferrous metals.
Korea Zinc’s forthcoming facility in Songdo will delve into several cutting-edge sectors: battery materials, renewable energy, green hydrogen materials, material recycling, and next-generation material technologies. The company plans to double its research staff by hiring about 200 new personnel, emphasizing high qualifications with half of the new hires expected to hold master’s or doctoral degrees.
This initiative is part of Korea Zinc’s broader “Troika Drive” strategy, under the leadership of Chairman Choi Yun-Birm, aimed at diversifying the company’s revenue streams beyond traditional metal smelting, which currently accounts for nearly 99% of its revenue. The strategy focuses on enhancing the company’s footprint in renewable energy, battery materials, and resource recycling.
Despite a downturn in consolidated sales in 2023, with a 13.5% decline from the previous year, Korea Zinc is optimistic about the profitability of its new ventures. The company has committed to investing 12 trillion won from 2024 to 2033 to bolster these new business areas.
The strategic location near Seoul is expected to attract top-tier talent to the R&D center, further enhancing Korea Zinc’s capabilities in these innovative sectors. Additionally, Korea Zinc continues to explore international merger and acquisition opportunities to create synergies with its new research focus, as demonstrated by its recent acquisitions in the U.S. recycling industry.
