Lotte Energy Materials is also planning to develop and manufacture copper foils for 4680 batteries.
The company said it was testing the foil, called I2SH, during its conference call for its fourth-quarter earnings.
The battery type is used widely by Tesla for its electric vehicles.
Solus Advanced Materials and SK Nexilis are also manufacturing the foils, which will be heading for batteries used by the US car maker.
Copper foil is used in the anode and is more expensive than aluminum foil for the cathode, making it also more profitable.
Lotte will likely begin manufacturing the foils in South Korea. It is also likely to build a facility in the US in response to the Inflation Reduction Act.
The company is expected to secure an annual capacity of 20,000 metric tonnes with 300 billion won in spending.