SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s three major battery makers likely made all-time-high investments in research and development (R&D) activities last year despite a slowdown in electric vehicle sales, industry sources said Wednesday. LG Energy Solution Ltd. (LGES), Samsung SDI Co. and SK On are estimated to have invested more than 2.5 trillion [...]
POHANG, Jan. 16 (Korea Bizwire) — The Ministry of SMEs and Startups has extended the designation of Pohang’s small business special support zones in response to economic challenges faced by the city’s steel and secondary battery industries. According to Representative Lee Sang-hwi of the People Power Party on January 15, the ministry has renewed the special [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korean and Canadian companies are set to collaborate on battery recycling and circular economy projects, focusing on extending the lifespan of batteries and developing sustainable practices. The Korea Institute of Industrial Technology (KITECH) announced on January 14 that it will co-host a “Korea-Canada Battery Circular Economy Seminar and B2B [...]
SEOUL, Jan. 10 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s leading battery maker, said Friday it has signed a seven-year battery supply deal with U.S. electric vehicle startup Aptera Motors Corp. LG Energy signed a three-way agreement with Aptera Motors and Korean battery pack maker CTNS to provide the U.S. company with its [...]
SEOUL, Jan. 10 (Korea Bizwire) — In a stark reversal of fortune, South Korea’s leading battery manufacturers are bracing for significant fourth-quarter losses as the electric vehicle market faces a prolonged period of stagnating demand. LG Energy Solution, one of the country’s top battery makers, reported an operating loss of 225.5 billion won in the fourth [...]
SEOUL, Dec. 26 (Korea Bizwire) – As global competition in advanced industries intensifies, more than half of South Korean companies in cutting-edge sectors, including biotechnology, batteries, and semiconductors, view the country’s regulatory environment as excessively stringent compared to international competitors. A survey conducted by the Korea Chamber of Commerce and Industry (KCCI) among 433 companies [...]
SEOUL, Dec. 23 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Monday it has reached an agreement with Qualcomm Technologies Inc. to jointly accelerate the commercialization of system-on-chip-based battery management system (SoC-based BMS) diagnostic solutions. Under the agreement, LGES’ new advanced BMS software will be made available on the [...]
SEOUL, Dec. 20 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday its U.S. unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor. LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP [...]
SEOUL, Dec. 18 (Korea Bizwire) – Over the past three years, South Korea’s leading conglomerates have directed the bulk of their equity investments toward the electric vehicle (EV) battery sector, signaling a strategic focus on securing new growth engines. According to a report by corporate research firm Leaders Index on December 17, South Korea’s top [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea’s electric vehicle expansion has driven a sharp increase in demand for talent in the secondary battery sector, with job openings more than doubling over the past seven years, according to a government report. The Ministry of Science and ICT revealed that job postings for secondary battery-related roles rose [...]