Aju Business Daily

SEOUL -- OCI, a Seoul-based green energy and chemical company, has agreed with POSCO Chemical to establish a joint venture on industrial high-purity peroxide that would be used for semiconductor and display manufacturing. Commercial production would begin in 2022.

OCI will own 49 percent of the joint venture and the remainder will be controlled by POSCO Chemical, a unit of the Posco steel group. The joint venture will use by-products produced at Posco steel mills.

By-products, also known as secondary products, are recyclable materials derived from a manufacturing process. The steel group has nurtured materials for electric vehicle batteries as its next growth engine.