SEOUL, May 29 (Korea Bizwire) — South Korea’s battery industry is aggressively recruiting talented employees to address the supply-demand gap. LG Energy Solution Ltd. maintains a year-round talent pool for both new graduates and experienced professionals through its dedicated recruitment website. The battery manufacturer is also actively seeking recruits on a global scale. Last month, [...]
SEOUL, May 24 (Korea Bizwire) — South Korean battery maker SK On Co. has secured US$944 million from investors in a round of funding in preparation for an initial public offering (IPO), its parent company said Wednesday. The board of SK Innovation Co. approved the equity investment agreement it and SK On signed with a [...]
SEOUL, May 23 (Korea Bizwire) —In a recent development, SK On, the Seoul-based battery manufacturer currently engaged in a joint venture with Ford Motor Company in the United States, has expressed unease regarding Ford’s announcement regarding the procurement of its own raw materials. SK On denies having engaged in any discussions with Ford regarding the [...]
SEOUL, May 22 (Korea Bizwire) — Despite the thriving global electric vehicle (EV) industry, South Korea’s trade balance in secondary batteries has unexpectedly shown a deficit for the first time this year, signaling significant changes in the market, a trade body said Sunday. The deficit in rechargeable batteries, which were previously recognized as a representative [...]
SEOUL, May 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed an investment agreement with an Australian lithium developer in an effort to bolster the sourcing of the critical mineral used in electric vehicle (EV) batteries. Under the agreement signed with Green Technology Metals Ltd., LGES will acquire an approximately [...]
SEOUL, May 16 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday the construction of an electric vehicle (EV) battery plant in Canada with Stellantis N.V. has been halted, amid apparent haggling between the Canadian federal and provincial governments over who should pay more incentives. The announcement confirms earlier reports by foreign media outlets [...]
SEOUL, May 11 (Korea Bizwire) — POSCO Future M Co., a major South Korean battery components maker, on Wednesday released a Responsible Minerals Report pledging to strengthen supply chain management to ensure the use of minerals that are free from concerns related to human rights infringement and environmental destruction. In these types of reports, companies [...]
SEOUL, May 9 (Korea Bizwire) — South Korean battery makers are increasing their presence in foreign markets, particularly in North America, by creating joint ventures (JVs) with automakers to reduce investment costs and comply with the U.S. Inflation Reduction Act (IRA). In a conference call last week, SK On Co. announced that it is “discussing [...]
SEOUL, May 3 (Korea Bizwire) — POSCO Future M Co., a leading secondary battery materials producer, said Wednesday it has teamed up with a Chinese cobalt producer to invest 1.7 trillion won (US$1.27 billion) to build production facilities for battery precursors and anode components. The precursor factory will be established under a joint venture with [...]
SEOUL, May 3 (Korea Bizwire) — South Korean battery maker SK On Co. said Wednesday it has signed an agreement with a U.S. graphite company to develop battery-grade anode materials in an effort to bolster the sourcing of raw materials. The joint development agreement (JDA), inked with Westwater Resources Inc., calls for the two companies [...]