LG Innotek's newly developed high-performance eco-friendly magnet that does not contain heavy rare earth elements / Courtesy of LG Innotek
By Nam Hyun-woo
LG Innotek, said, Wednesday, it has successfully developed a high-performance, eco-friendly magnet that does not use heavy rare earth elements, making it the first company in the industry to achieve this milestone.
Magnets are essential components in a wide range of products that require activation, including smartphone actuators, vehicle motors, and audio speakers.
Heavy rare earth elements are important materials for magnets, as they help maintain magnetic properties at high temperatures. Most of these elements are produced in specific countries, like China, which can lead to price fluctuations and supply problems due to geopolitical risks. Furthermore, mining these elements generates carbon dioxide emissions, causing significant environmental pollution.
In 2021, LG Innotek launched a magnet that reduced the use of heavy rare earth elements by 60 percent compared to previous levels. After three years, the company successfully developed a magnet that contains no heavy rare earth elements at all, thanks to a partnership with the Korea Institute of Materials Science. This collaboration led to the creation of a new multiphase alloy material that replaces elements such as Terbium and Dysprosium.
LG Innotek's high-performance, eco-friendly magnet is produced by evenly coating the multiphase alloy material onto the magnet and applying heat to absorb it. It offers industry-leading performance with a magnetic strength of 13.8 kilogauss and remains durable in high temperatures up to 180 degrees Celsius.
The company expects the development of this product to significantly decrease reliance on specific countries for heavy rare earth elements, helping to stabilize supply chains. Additionally, it projects that this advancement will reduce raw material costs for magnet production to about 60 percent of previous levels.
The development is anticipated to attract major global clients that prioritize sustainability. For example, substituting conventional heavy rare earth magnets with the newly developed ones in electric vehicles could decrease environmental pollutants by approximately 45 kilograms per vehicle.
English (United States)