SEOUL, April 18 (Korea Bizwire) — A South Korean consortium led by LG has decided to withdraw a project worth around 11 trillion won (US$7.7 billion) to establish an electric vehicle (EV) battery supply chain in Indonesia, industry sources said Friday. The consortium, which includes LG Energy Solution, LG Chem, LX International Corp. and other [...]
SEOUL, April 18, (Korea Bizwire) — South Korea’s major battery manufacturers are delaying or scrapping joint ventures with Chinese companies as geopolitical risks, regulatory uncertainty, and market stagnation force a strategic rethink in the electric vehicle (EV) supply chain. According to industry sources on April 17, LG Energy Solution has postponed construction of two planned [...]
SEOUL, March 31 (Korea Bizwire) — Samsung SDI Co., South Korea’s second-biggest battery maker, said Monday it has begun supplying next-generation 46-series cylindrical batteries to a U.S. company. Samsung SDI produces 4695 batteries, measuring 46 millimeters in diameter and 95mm in height, at its domestic plant and assembles them into modules at its Vietnamese plant [...]
DAEJEON, March 18 (Korea Bizwire) — Scientists at the Korea Advanced Institute of Science and Technology (KAIST) have developed a novel electrolyte solvent that could cut electric vehicle charging times in half while extending battery life, potentially marking a significant advancement in lithium-ion battery technology. The research team, led by professors Choi Nam-Soon and Hong Seungbum, created [...]
SEOUL, March 14 (Korea Bizwire) — Korean polar researchers have discovered a promising new material for lithium-sulfur battery development in an unexpected place: Antarctic waters. The Korea Polar Research Institute (KOPRI) announced on March 13 that a team of researchers had identified a key component for next-generation lithium-sulfur batteries from a red algae species found near [...]
BUSAN, South Korea, March 13 (Korea Bizwire) – As aviation authorities strengthen in-flight safety measures for power banks and electronic cigarettes, South Korean fire officials have highlighted the dangers of lithium-ion battery thermal runaway through a recent experiment. On March 12, the Busan Fire & Disaster Headquarters conducted a public demonstration to assess the risks associated [...]
SEOUL, March 10 (Korea Bizwire) — In the race to solve overheating challenges in electric vehicle batteries, immersion cooling technology—already gaining traction in data centers and energy storage systems—is emerging as a promising solution. Immersion cooling uses non-conductive cooling fluids to disperse heat from EV batteries, data centers, and energy storage systems. The technology offers superior [...]
SEOUL, March 5 (Korea Bizwire) — The government announced Wednesday its plan to create a 50 trillion-won (US$34.4 billion) fund to support the semiconductor, rechargeable battery, bio, artificial intelligence (AI) and other advanced industries as part of efforts to bolster South Korea’s industrial competitiveness. The plan was endorsed at a weekly meeting of economy-related ministers, [...]
SEOUL, March 3 (Korea Bizwire) — South Korea’s three major battery manufacturers are broadening their product lines with new mid-nickel batteries that promise an optimal balance of cost and performance, responding to growing demand for affordable electric vehicles amid efforts to overcome the electric vehicle market’s “chasm” – a temporary stagnation in demand. SK On will [...]
SEOUL, Feb. 25 (Korea Bizwire) — In a significant shift within the global battery industry, Chinese manufacturers substantially increased their market dominance in 2024, while South Korean competitors saw their share shrink in both electric vehicle and energy storage markets. According to data released by SNE Research on February 24, global battery shipments reached 1,460 gigawatt-hours [...]