# Who are L&F's customers? Who does L&F earn revenue from?
Canonical: https://valuechain.wiki/landf · Facet: customers · Updated: 2026-07-12T04:10:27.154+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: L&F's confirmed revenue counterparties include SK이노베이션(SK온), LG에너지솔루션, 삼성SDI. Per the valuechain.wiki graph: 3 revenue edges, backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).

### SK이노베이션(SK온) (high)  → /sk-innovation.md
- metric: Contract value ₩13.2T · 2024~2030 · high-nickel cathode supply contract
- note: Long-term supplier of high-nickel cathodes to SK On. The FY2025 annual report shows a KRW 13.19tn contract signed in 2024 through end-2030, alongside an earlier KRW 1.22tn contract from 2021.
- [confirms] L&F (KO, filing, published 2026-03-17) https://file.irgo.co.kr/data/IRPAGE/BIZ_REPORT/8f915e2b-f173-476f-bb25-e85755cd08a1.pdf: "SK On ... high-nickel cathode supply contract ... 2024-03-25 ... 6 years 7 months ... 13,191,047,267 (KRW thousand)"
- [mentions] Dealsite (KO, news, published 2024-06-10) https://dealsite.co.kr/articles/107517: "signed a KRW 1.2176tn NCM cathode contract, due to expire at year-end"

### LG에너지솔루션 (high)  → /lg-energy-solution.md
- metric: Contract value ₩7.1T · 2023~2024 · Cathode trading agreement
- note: Supplies high-nickel NCMA and single-crystal cathodes for LG Energy Solution cylindrical cells. Sources confirm a roughly KRW 7.1tn trading agreement in 2022 and a KRW 1.45tn supply contract in 2020.
- [confirms] Seoul Economic Daily (KO, news, published 2022-05-19) https://www.sedaily.com/NewsView/2663VGJSS4: "LGES and L&F signed a roughly KRW 7.1tn cathode trading agreement"
- [confirms] TheElec (KO, filing, published 2020-12-16) http://www.thelec.kr/news/articleView.html?idxno=9572: "L&F signed a KRW 1.4547tn cathode supply contract with LG Energy Solution"

### 삼성SDI (high)  → /samsung-sdi.md
- metric: Contract value ₩1.6T · 2027~2029 · ESS LFP cathode supply contract
- note: Supplies LFP cathode to Samsung SDI for ESS. The March 2026 deal disclosed KRW 1.6tn of committed volume for 2027-2029 plus a three-year option.
- [confirms] L&F (KO, ir, published 2026-03-24) https://www.landf.co.kr/company/hong_7.html?action=read&board_db=news&column=&keyword=&n=&num=261&page=1: "The deal size is KRW 1.6tn, with committed volume for 2027-2029 plus a three-year supply option."
- [confirms] The Korea Herald (EN, news, published 2026-03-24) https://www.koreaherald.com/article/10701581: "three years from 2027 ... world's first large-scale LFP cathode material supply agreement by a non-Chinese company"

Reverse side: https://valuechain.wiki/landf/suppliers.md · Ripple: https://valuechain.wiki/landf/ripple.md

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Full node: https://valuechain.wiki/landf.md · JSON: https://valuechain.wiki/landf.json