[Music] [Music] Hello, viewers. This is Kim Joo-young, the host of Power Interview. It is expected that domestic battery equipment manufacturers will achieve good performance due to the expansion of the electric vehicle market. Recently, there is a company that has been producing battery mixing equipment used in the electrode process, which is the first process in battery manufacturing, and has been achieving high performance. Jeil MNS, which entered the secondary battery mixing equipment business for the first time in Korea, supports the development of next-generation batteries based on the technology and know-how accumulated over 20 years. Today, on Power Interview, we have invited the CEO of Jeil MNS, Lee Young-jin, to have a conversation. Thank you for taking the time to join us despite your busy schedule. First of all, could you please introduce Jeil MNS to the viewers? Hello, I am Lee Young-jin from JMS. Our company, JMS, was established in 1981, and in the early days, we focused on pharmaceuticals and food TV.

I have mainly focused on brown tube paste mixing, and then followed the industrial trends to move into the display industry mixing. After that, I have consistently expanded into chemical, pharmaceutical, and food industries. As the first in Korea, I received orders for a secondary cell production line and localized large mixing equipment for the first time, supplying it to customers. Based on this, we now supply to the top 3 cell companies in Korea and the leading battery manufacturer in Europe, Northvolt. Despite undergoing numerous changes, we have steadfastly grown the company, becoming a globally recognized company. Especially, we were the first to start secondary cell mixing in Korea. I am curious about the reason for starting secondary cell mixing. We are now supplying equipment according to industrial trends, especially in the pharmaceutical sector, where we are creating a high-capacity line for making tablets.

Mixers for injectables were supplied first, and then mixers for wet applications were supplied for antibiotics. After that, we supplied wet facilities for TV CRT paste mixing, and as we followed the display industry, it led to PDP, LCD, and now, it includes secondary batteries. If you look at our major customers, not only the three domestic battery companies but also there is Northvolt in Europe. In particular, Northvolt is known as the largest battery manufacturer in Europe. How did you start cooperating with them? We thought there would be overseas customers, so we did some searching. At that time, Northvolt was a company that spun off from Tesla and established itself. We have been supplying everything from pilot lines to mass production facilities. Anyway, in Korea, we had our own experiences.

We provide everything from concept design based on J1 mns domestically produced factories, and we also operate overseas corporations in Sweden and the United States in response to establishing battery production bases overseas. We are expanding our business in both domestic and international markets. Are domestic and international business strategies different? Also, do you believe that differentiating strategies are necessary for cooperation with domestic and international companies? Generally, in the case of domestic factories, we are currently building all the factories, so we can respond in real-time because the distance to the actual site is not that far. However, in the case of overseas, the distance is so far that we need to establish infrastructure for delivering equipment and maintenance in that region. Therefore, we currently have four bases: two in Europe, one in Sweden, and one in North America, in the United States and Canada.

So, when the goods are delivered based on that region, we supplement the manpower for developing and maintaining infrastructure in that area, and we are responsible for the maintenance of the gigafactories that are rapidly increasing in that area. What is the evaluation of global companies on domestic mixing equipment? I'm curious about the reactions of companies that have actually used them. There are Japanese equipment, then German equipment, but first of all, the unit price is very high. Yes, it's very expensive, but the performance is not significantly superior. For domestic equipment, in our case, in Northvolt, we compared Japanese, Chinese, Swiss, and German equipment through tests. We ranked first in equipment tests in five countries, so.

We were able to supply. Our current location is actually in China. Except for the Chinese market, the majority is mainly taken by Korean companies. So, in Korea, besides our company, there are two other companies. Those two companies are now supplying almost all mixing equipment worldwide. Let's delve into the global mixing equipment industry. So, what is mixing engineering, and why is mixing equipment important in the secondary battery process? Generally, among the entire process of manufacturing secondary batteries, we are one of the plant facilities supplying raw materials first. After that, there is a device for full supply in the middle, but in terms of the amount of raw materials, mixing including the cathode material is actually at the forefront.

The fairness is very high, so when mixing, the amount of approval for the raw materials is very high. Therefore, if there is a problem with this, it can snowball like that. Generally, when it comes to quality control for batteries, especially for electrodes, once the quality is controlled, it becomes easier to assemble. I heard that MNS was the first in Korea to successfully commercialize domestic secondary battery mixing equipment. What does the localization of mixing equipment mean? Well, until the 90s, the companies making mixing equipment didn't have particularly advanced technology. As a result, the facilities for producing batteries in the early days mainly used equipment from Japan or Germany. We set a goal to localize these and proceeded with it.

As a result, in 1999, we received our first order for a secondary mixing facility line. The mixers were mainly supplied from Japan, and we also carried out the installation work. As a result, we had some exchanges with Japan, which led us to acquire some technical skills. Around 2006, we began to oxidize large mixers for the first time. The performance of mixing equipment is important, but maintenance of the equipment is also crucial. What do you think about this? Especially, substances including mixers and tanks need to be continuously stirred because they are not dissolved but dispersed and floating as powder. So, the blades in the tanks or mixers play a role in stirring them.

To rotate, you need a bearing. There is a shaft and a bearing that rotates the shaft. Generally, the bearings for wheels in cars are similar. However, in reality, maintenance of such equipment involves replacing bearings and seals, tasks that ordinary operators cannot handle. Therefore, specialized professionals like us need to respond immediately to any issues that arise in these areas. In response to advancements in battery technology, we also need to prepare for the supply of next-generation mixing equipment. Last year, the industry focused on improving cathode energy density. So, what technologies is the industry currently mainly focusing on? Well, silicon was a big topic last year, and now there is a blending of cathode materials.

In applying many mixing methods in the next, the energy density has increased a lot. However, currently, there is a limit due to the expansion of silicon. Just increasing the amount of silicon may not solve the problem. Therefore, it is necessary to increase the graphite content. In the past, most of the batteries we produced were only around 60% to 70%, not reaching a high energy density. Ultimately, to increase the energy density, we need to store the divorce coming from both the anode and cathode, which requires a lot of graphite to increase the storage space. As a result, a high level of mixing is required on the anode side. Currently, in our case, we have done a lot of dry mixing and wet mixing. Unlike our competitors, we focus not only on battery slurries but also on...

No, we do a lot of mixing with very high viscosity. Therefore, we are mostly prepared in those aspects, so our responsiveness in those areas seems to be very good. How do you foresee the growth of the global mixing equipment industry in the future? Currently, mixing equipment companies have challenges with continuous mixers, dry mixers, and high viscosity mixers. In order to solve these challenges, material purification needs to be improved. As materials continue to be developed, there are some difficulties in applying them, especially in the case of continuous mixers. In the past, we have worked in various fields such as pharmaceuticals, defense, and chemicals, so we have a certain level of preparation for mixing based on the variations of these materials.

It is necessary for us and other mixing companies producing lithium batteries in the future to first solve the issue of high points. Equipment durability should be good, there should be safety aspects, and then, to improve productivity, we need to develop continuous mixing and such methods. Lastly, there is a need to come up with solutions for dry processes to exclude organic solvents in nationwide processes. Now, let's talk about my future plans. As a leading company specializing in mixing equipment, what has been the most challenging for you in running the business? Well, I think the most challenging aspect is the people. In our field of machine manufacturing, there are not many engineers available. Mostly, engineers in the semiconductor or AI fields are the ones mainly working in our area.

Rather than wanting to do it, I now want to work a lot in the field of the defense industry. In our case, in a way, it can be seen as a root industry, so it seems that the system to foster such engineers is somewhat inadequate. As the work is tough, we need to work in a better environment, so investment in improving the environment should also be made. Despite that, I am curious about the management philosophy of the CEO, which has not been shaken until now in building the company. It's not like China or something, but personally, I wanted to do well in my work. When working on a project, the fundamental mindset was to achieve project results to the extent that we could not be ignored by the clients. I am not a major in this field, but it seems that such things are easily seen in our company.

I have done a lot of research on how to teach that part well to friends who are joining the company. In the field of global battery secondary battery mixing, competitiveness lies in differentiated technological capabilities and market dominance. I am curious about the MNS global expansion strategy. Our mixing equipment is somewhat unique because it deals directly with chemicals, so regulations vary greatly from country to country. Therefore, preparing in advance for these aspects would actually be helpful for us to expand globally. For example, when we first entered Sweden, we were confident in dealing with regulations, but even though we have been working there for about four years now, the regional...

Laws and regulations are very important, so regardless of the type of global company, preparing in advance for local laws and certifications related to handling hazardous substances such as polarizing and depolarizing agents in that area seems to be one of the strategies we can take. Cooperation and collaboration in business are crucial. How do you think about this aspect? Our client is experiencing rapid growth, and consequently, all equipment companies are also growing rapidly. Therefore, basic engineering training and infrastructure development are crucial. Our clients are thoroughly reviewing these aspects. Infrastructure development in regions like Europe, Southeast Asia, and North America is divided by continents.

We have been progressing together, and for that, we needed a lot of Gigafactory images. Even if we receive a deposit no matter how much, in the past, we used to receive orders line by line, but now we receive them by factory units. It was a bit difficult to manage with my own funds, and it's still somewhat challenging. Therefore, it seems like the starting point that led us to prepare for RP. Do you have plans to expand your business areas in the future or do you plan to diversify your global presence? Currently, besides Korea, we are operating in about 8 countries such as China, Malaysia, Hungary, Sweden, Poland, the United States, and Canada. Yes, if we look at it from a country perspective, it will increase. It seems that the Indian market is also rising a lot at the moment, and besides that.

Based on the foundation of Taiwan, the market itself can become much broader. So, in terms of different countries, it might be like that. When it comes to expanding our business scope, we are currently a company that specializes in battery slurry mixing. Many people think of us that way. However, we are a company that processes materials and provides solutions on how to process them to meet the desired results of our customers. Therefore, we are a solution provider. Consequently, we continue to work in the pharmaceutical and food sectors, as well as in the defense and chemical industries. Primarily, we are currently supplying battery slurry mixing in the secondary battery market. In the production process of cathode materials, various additives and mixing are necessary. We also plan to expand into that area. In the field of mixing domestically, global companies are competing.

When it comes to competition, what do you see as the most competitive advantage of MNS? First of all, when we talk about increasing the energy density of such solid content that we mentioned earlier, the peak doubling sing is already possible. We have tried mixing many substances with much higher viscosity than explosives or chemicals, so we believe that we have a strong point in that area because our business field is so wide. We are currently being selected as one of the companies that carry out large-scale projects, whether for overseas or domestic clients. Therefore, our in-house project management has been greatly strengthened. Next, we are probably...

Sweden or Hungary combined, the number of local recruits is about 25 to 30 people, and we believe that building infrastructure in each region to that extent is truly one of our strengths. Recently, in the secondary battery market, there is a temporary stagnation period commonly mentioned. How do you view the secondary battery market as a company participating in this market? Currently, I think that CAGE is limited to the electric vehicle market. Yes, there are many places that require actual batteries, so whatever it is, the ES market, as far as I know, could potentially grow more in the future than electric vehicles. Energy storage devices, right? Yes, and besides that, they are mostly used in everyday places in general. Therefore, I believe that the expansion of CAGE is just a temporary stagnation phase and cannot be stopped.

I understand that you are particularly strong in engineering among various competencies. Could you please introduce some points that you can boast about? We tend to apply a lot of what we are researching. Earlier, I answered a question about Northvolt. For example, in the case of Northvolt, we have been involved in everything from engine concepts to current processes. Through such experiences, we have gained a lot of knowledge and have faced challenges in incorporating them into our work environment. In fact, in the case of domestic companies, they have always followed a certain fixed way of doing things, so our freedom to apply new ideas has been quite limited. However, in foreign companies, they tend to value people more than machines.

I've seen that there are areas where harmful substances need to be reduced as much as possible, and we have done a lot of research on how to automate the parts that are currently manual. So many of these have been successfully implemented. Therefore, our biggest strength in our engine is not just those predetermined parts but also incorporating our own ideas. Lastly, I'm curious about this year's sales target for MNS. Could you also share your plans and vision for the future? First of all, this year's sales target is around 350 billion KRW, and that's our current goal. Last year, in 2023, our sales revenue was around 330 billion KRW. Yes, and since we are continuously receiving additional orders this year, we believe that reaching 350 billion KRW will not be a big challenge. As for our future vision, it lies in the field of mixing slurry for secondary batteries.

The portion is very large, and there are areas that need cost improvement in that part. Suddenly, the amount has increased a lot, so even though we have been preparing the infrastructure and investing a lot since 2-3 years ago, engineers cannot be produced in such a short period. There should be a reduction in labor costs in that aspect, and there should be some cost reduction that needs to be done practically while producing. Especially now, as we are going to start the table, there will be some parts that need to be realized, and by reflecting the goal to some extent, we will start implementing the missions for expanding into new business areas from this year. With the expansion of the global electric vehicle market, our battery equipment company should enhance its next-generation technological capabilities not only domestically but also internationally.

The company Jeil MNS, which is actively expanding with its unique mixing technology, is supporting the development of next-generation batteries. They are also actively pursuing overseas expansion through increased production capacity and investment in new equipment. As they have been breaking their record for annual sales every year, I hope that they can achieve a new milestone in performance this year. Thank you, CEO Lee Young-jin, for joining us today.

[파워인터뷰 화제人] 이영진 제일엠앤에스 대표 “2차전지 믹싱장비 전문기업 제일엠앤에스”  / 머니투데이방송

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[파워인터뷰 화제人] 이영진 제일엠앤에스 대표 “2차전지 믹싱장비 전문기업 제일엠앤에스” / 머니투데이방송

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