Relevant Media, page-1434

from Cho Seong-rae (55), CEO of KSM Metals:

The factory with a total area of 19,800 square meters (about 6,000 pyeong) was full of the sounds of machines that make neodymium alloys for permanent magnets, but there seemed to be fewer than 20 employees. CEO Cho said, “We are promoting the automation of the rare earth alloy production facility.” It is a plan to unmanned the entire process from raw material injection to alloy production, a task that has never been attempted in the world.

Currently, a prototype of neodymium alloy is being produced, and is expected to be officially sold. CEO Cho held up a product packaged in a small plastic and said, "We are currently meeting product specifications, and a product that can be sold will be produced by the end of September."

The outlook for the self-produced neodymium alloy market is bright. CEO Cho predicted, “Only about 3-4 kg of neodymium alloy permanent magnets are used in electric vehicle motors, but the demand is expected to increase 20 times in the future.” On the other hand, the supply is difficult to double within 10 years, so it is difficult to double the supply within 10 years. It is highly likely that the market will become a market for the company, and an official from the company explained, “If the plant starts full-scale production after the end of the trial run, it will be able to meet 20% of domestic demand first.”