L&F Plus Receives 220 Billion Won Support from National Growth Fund

Exterior view of L&F Plus.

L&F, a company specializing in secondary battery materials, announced that its subsidiary L&F Plus was finally selected as the recipient of a long-term, low-interest loan worth 220 billion won at the National Growth Fund Investment Review Committee held on May 28.

This support from the National Growth Fund is intended for the construction of the nation's first and largest dedicated LFP (lithium iron phosphate) cathode material plant. A total of 220 billion won, including 170 billion won from the Advanced Strategic Industry Fund, will be provided as a long-term, low-interest loan with a 12-year maturity. The entire amount will be used for facility investment.

In August last year, L&F established L&F Plus as a wholly-owned subsidiary dedicated to the production and sales of LFP cathode materials. After groundbreaking, the company completed construction of a dedicated LFP cathode material plant covering approximately 100,000 square meters within Phase 2 of the National Industrial Complex in Gugi-myeon, Dalseong-gun, Daegu Metropolitan City, in May this year—just about nine months after construction began.

L&F Plus plans to begin mass production of LFP cathode materials with an annual capacity of 30,000 tons by the end of the third quarter this year, and aims to expand this to an annual total capacity of 60,000 tons by the first half of 2027.

L&F Plus stated that the long-term, low-interest loan support from the National Growth Fund, together with its already secured investment resources, will be used to further strengthen the stability and efficiency of its mass-production system for LFP cathode materials for both the domestic and North American markets.

This content was produced with the assistance of AI translation services.