The only Korean commercializer of silicon anode material
Daejoo Electronic Materials
Daejoo Electronic Materials is the only Korean company to commercialize silicon anode material for lithium-ion batteries. It has supplied LG Energy Solution since 2019, with its silicon anode used in EV batteries such as the Porsche Taycan, and adoption is now widening to mass-market models like the Kia EV3. It also runs an electronic-materials business spanning phosphors and conductive pastes.
078600.KQ Updated Jul 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Daejoo Electronic Materials is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 8 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Silicon anode and electronic materials are the two pillars (FY2024 revenue around KRW 240 billion)
- Customer concentration · LG Energy Solution is the anchor customer for silicon anode; customer diversification is beginning with models such as the Kia EV3
- Segments · Silicon anode · Electronic materials
Revenue from
- LG Energy Solution High confidence
Supplies silicon anode material to LG Energy Solution since 2019, first used in the Porsche Taycan and now widening to more Porsche models and mass-market models such as the Kia EV3. It is the anchor customer of the silicon anode business.Confirms KO NH Investment & Securities report (news) Published May 15, 2026: Daejoo Electronic Materials: MLCC and silicon anode grow togetherConfirms KO Mirae Asset Securities Published Jul 23, 2024: Daejoo Electronic Materials: growth felt amid a shaky cycleConfirms EN Asharq Al-Awsat Published Oct 19, 2021: The EV Battery Supply Chain Has a Well-Kept Secret - 전자재료 고객 (LED·디스플레이·태양전지) Medium confidence
Sells electronic materials such as LED phosphors, conductive pastes, solar-cell electrode materials and polymers to LED, display and solar makers, forming the company's second pillar alongside silicon anode. - SK온 (SK On) Medium confidence
A direct-customer relationship supplying silicon anode to SK On, alongside LG Energy Solution. After quality approval in Q2 2023, supply began in Q1 2024.
Pays to
- 실리콘 원료·금속실리콘 공급 바스켓 (비공개) Medium confidence
Procures metal silicon and related feedstock for SiOx and Si-C silicon anode production. Individual supplier shares are not disclosed. - 전자재료 원재료 공급 바스켓 (비공개) Low confidence
Procures metal powders and compounds for electronic materials such as phosphors and conductive pastes. Individual supplier shares are not disclosed.
Investors
- Founder family (Jung-gyu Lim, Il-ji Lim et al.) High confidence
Founder-family-led ownership — the founding Lim family (Jung-gyu, Il-ji and others) together forms the largest shareholding controlling the company. The backdrop for long-horizon ownership pushing high-risk new-material R&D such as silicon anode and MLCC conductive materials.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Honda Motor | lead2 | +25.8 | -0.8 | +62.2 | -8 | +10 | -1.2 |
| General Motors | lead2 | +40.8 | -42.4 | +7.9 | +49.8 | +54.2 | -3.8 |
| Hyundai Motor Company | lead2 | -16.7 | -4.7 | +16.2 | +12.3 | +158.8 | -7.8 |
| Tesla | lead2 | +49.8 | -65 | +101.7 | +62.5 | +11.4 | -9.3 |
| Nissan Motor | lead2 | +14.2 | -23 | +30.6 | -25.4 | -11.8 | -17.7 |
| Toyota Motor Corporation | lead2 | +58.1 | -13.4 | +63 | +1.8 | +21.8 | -18.2 |
| SK Innovation (SK On) | lead1 | -22.9 | -22.4 | -26.2 | +8.9 | -10.6 | -8.1 |
| LG Energy Solution | lead1 | · | · | -26.9 | -7.6 | +13.1 | -18.1 |
| Daejoo Electronic Materials | node | +98.4 | -2.3 | -19.4 | +48.5 | -25.9 | +7.7 |
YTD as of 2026-07-10 · source: Yahoo Finance
Daejoo Electronic Materials's thesis is two-sided: the scarce status of Korea's only commercializer of silicon anode material and its concentration on a single customer, LG Energy Solution. It has supplied silicon anode (SiOx, Si-C) to LG Energy Solution since 2019, first used in the Porsche Taycan and now widening to mass-market models like the Kia EV3 — silicon anode is a next-generation material that raises charging speed and energy density, so EVs' fast-charging demand is adoption. The swing factor is penetration from premium (Porsche) into mass models and diversification beyond LG, with SK On joining as a new customer from Q1 2024. Electronic materials (phosphors, conductive pastes) form a second revenue axis cushioning the cycle. Re-rating triggers are silicon-anode EV adoption (rising content), customer diversification such as SK On, and the battery-demand cycle.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target ₩150,000 · Price ₩81,600 (07-10) · Upside +84%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| NH Investment & Securities | Buy | ₩200,000 | May 15, 2026 | Report ↗ |
| Kiwoom Securities | Buy | ₩100,000 | Feb 9, 2026 | Report ↗ |
On growing MLCC and chip-component demand plus silicon anode growth, and up to KRW 1.4tn of potential revenue if a SpaceX heterojunction-solar paste supply materializes, raises the target 25% to KRW 200,000 and keeps Buy.