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General Motors CEO Set to Visit Seoul for Discussions with South Korean Battery Firm CEOs, Sources Say

General Motors CEO Set to Visit Seoul for Discussions with South Korean Battery Firm CEOs, Sources Say

SEOUL, Feb. 6 (Korea Bizwire) – General Motors CEO Mary Barra will visit Seoul this week to meet with leaders of major South Korean battery makers, industry sources said Tuesday. Barra plans to fly into Seoul on Wednesday to meet with Kim Dong-myung, president of LG Energy Solution Ltd. (LGES), and Choi Yoon-ho, CEO of [...]

LG Energy Solution Employees Protest Bonus Cuts as Demand for EVs Wanes

LG Energy Solution Employees Protest Bonus Cuts as Demand for EVs Wanes

SEOUL, Feb. 6 (Korea Bizwire) – A number of employees from LG Energy Solution have launched a protest demanding improvements to the bonus system following the company’s decision to significantly reduce this year’s bonuses due to a slowdown in demand for electric vehicles. From February 5 to 29, approximately 1,700 LG Energy Solution employees, through anonymous [...]

South Korean Battery Exports Experience a 1.6% Dip Amidst Decelerating Electric Vehicle Demand

South Korean Battery Exports Experience a 1.6% Dip Amidst Decelerating Electric Vehicle Demand

SEOUL, Feb. 4 (Korea Bizwire) – South Korea’s exports of battery products fell 1.6 percent in 2023 from a year earlier after posting growth for the previous seven years amid a slowdown in electric vehicle sales, the trade ministry said Sunday. The country’s rechargeable battery shipments fell to US$9.83 billion, marking the first on-year decline [...]

LG Energy Solution to Invest in U.S. Startup for Battery Partnership

LG Energy Solution to Invest in U.S. Startup for Battery Partnership

SEOUL, Jan. 25 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading manufacturer of lithium-ion batteries, said Thursday it will make an equity investment in U.S. startup Sion Power for next-generation battery development. The investment is for technology partnership in developing lithium metal batteries, which use a lithium metal anode instead of a graphite [...]

SK On, U.S. Startup to Jointly Develop Solid-state Batteries

SK On, U.S. Startup to Jointly Develop Solid-state Batteries

SEOUL, Jan. 17 (Korea Bizwire) — SK On, the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has partnered with U.S. battery startup Solid Power to jointly develop solid-state batteries. SK On signed an agreement with Solid Power for solid-state battery technology transfers from the U.S. company during this year’s Consumer Electronics Show [...]

Electronic Scrap Recycling Firm TES Eyes EV Battery Recycling Biz

Electronic Scrap Recycling Firm TES Eyes EV Battery Recycling Biz

LAS VEGAS, Jan. 15 (Korea Bizwire) — In Las Vegas, Nevada, a 3,700-square-meter facility of Singapore-based IT lifecycle solution company TES houses stacks of used electronic devices, including data center servers, hard disk drives, laptops and smartphones. About a 30-minute drive from the city’s luxurious strip of hotels, casinos and restaurants, this facility plays a [...]

LG Electronics Inaugurates First International Electric Vehicle Charger Plant in the United States

LG Electronics Inaugurates First International Electric Vehicle Charger Plant in the United States

SEOUL, Jan. 13 (Korea Bizwire) – LG Electronics Inc. said Saturday that it has opened its first plant in the U.S. for electric vehicle (EV) charging stations, as part of its strategy to advance into the fast-growing EV charging solutions business. The factory based in Fort Worth, Texas, has an annual capacity of over 10,000 [...]

S. Korea to Launch Patent Infringement Probe into China-made Smartphone Battery

S. Korea to Launch Patent Infringement Probe into China-made Smartphone Battery

SEJONG, Jan. 11 (Korea Bizwire) – South Korea’s trade commission said Thursday it will launch a probe into alleged patent infringement involving a China-made smartphone battery and battery material. The Korea Trade Commission (KTC) said it plans to look into whether the patent by LG Chem Ltd.’s cathode material utilized in battery production, known as [...]

Jeju Island Initiates Pilot Project for Electric Vehicle Battery Recycling

Jeju Island Initiates Pilot Project for Electric Vehicle Battery Recycling

JEJU, Dec. 19 (Korea Bizwire) – Known as the ‘Island of Electric Vehicles,’ South Korea’s Jeju Island is set to pilot a new project aimed at recycling used electric vehicle (EV) batteries. The Ministry of Environment, Jeju Special Self-Governing Province, and SF ECO Co., Ltd. announced that they would be signing a memorandum of understanding on [...]

LG Energy Solution Wins Battery Module Supply Deal in Poland

LG Energy Solution Wins Battery Module Supply Deal in Poland

SEOUL, Dec. 8 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading battery maker, said Friday it will supply battery cells to a Polish battery pack company in a three-year deal. LGES has signed the deal to begin supplying 200,000 nickel cobalt manganese (NCM) battery modules to Impact Clean Power Technology (ICPT) in 2024 [...]