# Who are Cosmo Advanced Materials & Technology's customers? Who does Cosmo Advanced Materials & Technology earn revenue from?
Canonical: https://valuechain.wiki/cosmo-advanced-materials-technology · Facet: customers · Updated: 2026-09-04T23:10:43.145752+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Cosmo Advanced Materials & Technology's confirmed revenue counterparties include LG Chem, Samsung SDI, Samsung Electro-Mechanics plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 4 revenue edges, backed by 6 dated sources, 2 of them primary filings (as of 2026-09-04).

### LG Chem (high)  → /lg-chem.md
- metric: Contract value ₩250.4B · 2024-05~2025-04 · cathode single supply contract (39.8% of revenue)
- note: Supplies high-nickel NCM cathode active material. 2025 single-supply contract worth 250.4 billion won (39.8% of recent revenue), cut from an initial 362.1 billion won due to the EV demand lull.
- [confirms] FSS DART (KO, filing, published 2026-06-02) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260602000342: "Main customers are Samsung Electro-Mechanics, Samsung SDI and LG Chem; cathode revenue was 327.6 billion won (71.8% of total)."
- [confirms] FSS DART (KO, filing, published 2025-04-30) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20250430801069: "Counterparty LG Chem, basic purchase contract, 250,416,166,268 won (39.8% of revenue), term 2024-05-01 to 2025-04-30. Cut by 111.7 billion won from the initial 362.1 billion won to reflect lower orders amid the demand lull."
- [confirms] THE ELEC (EN, news, accessed 2026-07-11) https://www.thelec.net/news/articleView.html?idxno=413: "Cosmo AM&T is developing EV batteries with a nickel content of 80% or higher in joint efforts with Samsung SDI and LG Chem."

### Samsung SDI (high)  → /samsung-sdi.md
- note: Supplies NCM cathode active material. Provides NCM523 for ESS and small cells; by Q3 2025 accounted for about 80% of cathode volume as the customer mix diversified.
- [confirms] FSS DART (KO, filing, published 2026-06-02) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260602000342: "Main customers are Samsung Electro-Mechanics, Samsung SDI and LG Chem; per-customer amounts are omitted for contract reasons."
- [mentions] IBK Securities via Nate (KO, research, published 2025-11-19) https://news.nate.com/view/20251119n05812: "In Q3 the mix shifted from 100% LG dependence to 20% LG Energy Solution and 80% Samsung SDI. Target price 50,000 won (Trading Buy)."
- [confirms] THE ELEC (EN, news, accessed 2026-07-11) https://www.thelec.net/news/articleView.html?idxno=413: "The company had been a supplier of cathodes to Samsung SDI for small batteries and began supplying high-nickel cathode (NCM523) for ESS from 2020."

### Samsung Electro-Mechanics (mid)  → /samsung-electro-mechanics.md
- metric: segment revenue ₩115.2B · functional-film revenue (25.3% of total)
- note: Supplies release film for MLCC processing. Functional-film revenue 115.2 billion won (25.3% of total), tied to growth in AI-server and automotive MLCC.
- [confirms] FSS DART (KO, filing, published 2026-06-02) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260602000342: "Main customers include Samsung Electro-Mechanics. Functional-film (MLCC release film) revenue 115.2 billion won, 25.25% of total."
- [mentions] THE ELEC (EN, news, accessed 2026-07-11) https://thelec.net/news/articleView.html?idxno=3453: "Cosmo AM&T is expanding MLCC release film capacity; release film is an essential consumable for MLCC manufacturing."

### 배터리 셀 (하이니켈 양극재) (mid)
- note: Makes high-nickel NCM cathodes and MLCC release film; expanding cathode supply to Korean cell makers.
- [mentions] Finance Scope (KO, news, published 2024-11-07) https://www.finance-scope.com/article/view/scp202411070013: "Cosmo AM&T makes high-nickel cathodes for Korean cell makers."

Reverse side: https://valuechain.wiki/cosmo-advanced-materials-technology/suppliers.md · Ripple: https://valuechain.wiki/cosmo-advanced-materials-technology/ripple.md

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