SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s battery industry is intensifying efforts to establish a systematic foundation to dominate the rapidly growing second-life battery market, driven by the widespread adoption of electric vehicles. The second-life battery industry represents a futuristic and economically valuable sector. It also has the potential to contribute to waste reduction and [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s exports of cathode materials have experienced significant growth, primarily driven by the rapid expansion of the secondary battery industry, especially in the electric vehicle sector. However, a substantial portion of the earnings from South Korea’s cathode material exports are flowing back to China, which supplies crucial ingredient [...]
SEOUL, April 20 (Korea Bizwire) — South Korea will invest 20 trillion won (US$15.9 billion) by 2030 in developing next-generation secondary batteries and securing advanced technologies for materials, parts and equipment of the sector, the industry ministry said Thursday. The planned investment by the government and major battery makers combined, including LG Energy Solution Ltd., [...]
SEOUL, March 7 (Korea Bizwire) – The Korean battery industry is making strides in developing lithium iron phosphate (LFP) batteries, with SK On Co. set to unveil a prototype at the Interbattery exhibition later this month and LG Energy Solution Ltd. (LGES) is also expanding its LFP battery product portfolio. SK On will be the [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korean battery firms will invest a combined more than 50 trillion won (US$35.24 billion) at home by 2030 to secure advanced technologies in the secondary battery field, a move that could to make the country the world’s No. 1 player with a market share of over 40 percent, [...]
SEOUL, June 9 (Korea Bizwire) — As China and Germany advanced in the electric vehicle (EV) and battery industry last year, the South Korean share of the global EV and battery export market dropped. The Federation of Korean Industries reported that China and Germany raised their share of the world’s battery-based electric vehicle (BEV) export [...]
SEOUL, Nov. 12 (Korea Bizwire) — South Korea’s big-three rechargeable battery makers have agreed to create a fund to jointly develop next-generation battery technologies and foster related industries, the industry ministry said Monday. The companies — LG Chem Inc., Samsung SDI Co. and SK Innovation Co. — signed a memorandum of understanding for joint R&D [...]
SEOUL, Nov. 20 (Korea Bizwire) — Chinese rechargeable battery and electric vehicle (EV) manufacturers are offering high wages to South Korean engineers, causing concerns among local companies that could face a shortage of skilled workers, industry watchers said Sunday. Sources said that Chinese companies are promising three to four times more pay for skilled engineers [...]