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. 9 (Korea Bizwire) — Three South Korean electric vehicle battery makers saw their combined global market share fall from a year earlier in the first 10 months of 2024 amid robust growth of Chinese rivals, industry data showed Monday. The trio — LG Energy Solution, SK On Co. and Samsung SDI Co. — [...]
POHANG, South Korea, Dec. 5 (Korea Bizwire) — The industrial heart of Pohang, once buoyed by its thriving secondary battery and steel industries, is grappling with a severe economic downturn, underscoring the fragility of the region’s core sectors. The city, home to major players like EcoPro, POSCO Future M, and GS Energy Materials, has been [...]
SEOUL, Dec. 5 (Korea Bizwire) – South Korea’s Ministry of Environment announced plans to revise regulations governing saline wastewater discharge from secondary battery production, aiming to better assess its ecological impact on marine environments. The proposed amendments to the Water Environment Conservation Act and the Sewerage Act will be open for public comment starting December [...]
SEOUL, Dec. 4 (Korea Bizwire) – As concerns mount over a prolonged drop in electric vehicle demand and potential impacts of Donald Trump’s potential return to the White House, South Korea’s battery manufacturers are adapting their strategies amid growing industry turbulence marked by EV plant closures and bankruptcies worldwide. The country’s three major battery makers are [...]
SEOUL, Dec. 3 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it is considering buying General Motors Co.’s stake in their joint venture battery plant in Michigan. “The company is considering acquiring the Ultium Cells JV 3 plant in Lansing, Michigan, to effectively operate its U.S. plants and [...]
SEOUL, Nov. 18 (Korea Bizwire) – Kia has significantly scaled back production of its EV9 electric SUV at its Georgia plant, as the automaker navigates stricter U.S. tax credit requirements and awaits the completion of local battery manufacturing facilities. According to Kia’s sales data, only 21 EV9s were produced at the Georgia plant through the third [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korea’s leading battery maker LG Energy Solution (LGES) said Friday it has clinched a deal to supply electric vehicle batteries to U.S. automotive manufacturer Rivian. Under the deal, LGES will provide Rivian with its advanced 4695 cylindrical batteries, totaling 67 gigawatt hours, for over five years, according to [...]
SEOUL, Nov. 6 (Korea Bizwire) – The Washington Post reported on November 3 that sodium-ion batteries are gaining attention as a potential challenger to lithium-ion batteries, which have dominated the rechargeable battery market for decades, offering a cheaper and more environmentally friendly alternative. Also known as sodium batteries, these devices operate on principles similar to lithium-ion [...]
DAEJEON, Nov. 5 (Korea Bizwire) – In a significant development highlighting South Korea’s dominance in battery technology, patent applications for battery fire safety technologies have surged nineteen-fold over the past decade, according to data released by the Korean Intellectual Property Office on November 3. An analysis of patent applications filed with major patent offices worldwide—including South [...]