Korea Zinc Company, Ltd. (Korean: 고려아연 주식회사; Hanja: 高麗亞鉛 株式會社; RR: Goryeo Ayeon Jusik Hoesa) is a non-ferrous metal smelter headquartered in Seoul, South Korea. It is one of the leading refined zinc-producing companies alongside Nyrstar, Hindustan Zinc, and Boliden.[2] Korea Zinc produces 18 types of valuable metals and chemical products by processing various raw materials from zinc and lead concentrates to low-grade ore and scrap metal.[3]
 | |
Native name | 고려아연주식회사 |
|---|---|
| Company type | Public |
| KRX: 010130 | |
| Industry | Metallurgy |
| Founded | 1974 |
| Headquarters | , South Korea |
| Revenue |  ₩11.2194 trillion[1] (2022) |
 ₩919.2 billion[1] (2022) | |
| ₩798.3 billion[1] (2022) | |
| Total assets | ₩12.0979 trillion[1] (2022) |
| Total equity | ₩9.2317 trillion[1] (2022) |
| Owner |
|
| Parent | Young Poong Group |
| Website | www.koreazinc.co.kr |
| Korea Zinc | |
| Hangul | |
|---|---|
| Hanja | |
| Revised Romanization | Goryeo Ayeon |
| McCune–Reischauer | Koryŏ Ayŏn |
Korea Zinc was founded by Choi Ki-ho and Chang Byung-hee in 1974. Since its establishment, Korea Zinc has been co-managed by the Choi and Chang families.[4]
Operations
editKorea Zinc has an annual production capacity of 650,000 tons of zinc and 420,000 tons of lead. In addition, while smelting the zinc and lead, Korea Zinc produces gold, silver, and sulfuric acid as byproducts.[5] Korea Zinc's production base is the Onsan refinery located in Ulsan, South Korea.[6] The company also manufactures and sells zinc ore through its Australian subsidiary, Sun Metals Corporation.[7]
For 2023, Korea Zinc is constructing a 500 billion won ($370 million) nickel refinery in Ulsan, South Korea. Production will begin in 2026, increasing the company's nickel production capacity from 22,000 to 65,000 tonnes per year. This will make Korea Zinc the largest non-Chinese producer of nickel sulphate, a key element for making cathodes in EV batteries. To this end, the company has also established a joint venture for precursor production with South Korea's LG Chem and launched negotiations with Singapore's Trafigura for co-operation in nickel refining.[8]
Trafigura, one of the leaders in the raw materials industry, has entered into an agreement with Korea Zinc to invest 185 billion won (US$140 million) in a nickel processing plant. Trafigura will take a 12.9 per cent stake in Korea Zinc's KEMCO. Also included in the agreement is a long-term raw material supply arrangement. Trafigura will supply between 20,000 and approximately 40,000 tonnes per year and will receive the right to purchase raw materials under the contract.[9]
See also
editReferences
edit- ^ a b c d e f g h i j "KorZinc 010130". FnGuide. 2022. Archived from the original on 30 January 2024. Retrieved 30 January 2024.
- ^ Bain, Caroline (April 11, 2013). Guide to Commodities: Producers, Players and Prices, Markets, Consumers and Trends. The Economist. p. 118. ISBN 978-1846688966.
- ^ "Korea Zinc General Information". PitchBook. Archived from the original on 2023-02-05. Retrieved 2024-03-25.
- ^ Park, Jae-hyuk (December 14, 2022). "Korea Zinc steps closer to separation from Young Poong". The Korea Times.
- ^ Hwang, Jung-hwan (September 5, 2021). "Korea Zinc emerges winner despite sharp decline in treatment fees". Korea Economic Daily.
- ^ Moon, Gwang-min; Cha, Chang-hee; Cho, Jeehyun (September 1, 2022). "Feud of co-founding family brewing over Korea Zinc". Maeil Business Newspaper.
- ^ "Korea Zinc buys additional stake in Australian unit". Yonhap. Seoul. April 8, 2022.
- ^ "Korea Zinc expands nickel production to meet US battery demand". Finantial Times. Archived from the original on 2024-01-06. Retrieved 2024-03-25.
- ^ "Trafigura to invest $140m in Korea Zinc's nickel refinery". Mining Technology. Archived from the original on 2024-03-25. Retrieved 2024-03-25.
External links
edit- Official website
- Business data for Korea Zinc: