Lee Jae-yong and Chung Eui-sun to Promote 'Secondary Battery Meeting' at Hyundai Motor Namyang Research Center

[Asia Economy Reporters Su-yeon Woo, Ki-min Lee] Samsung Electronics Vice Chairman Lee Jae-yong and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun are planning to meet as early as next week at Hyundai Motor's Namyang Technology Research Center. Following Executive Vice Chairman Chung's visit to Samsung SDI's Cheonan plant in May to discuss the direction of next-generation electric vehicle battery business with Vice Chairman Lee, expectations are rising that this second meeting will result in more concrete collaboration plans.

According to industry sources on the 15th, Vice Chairman Lee is reportedly planning to visit Hyundai Motor's Namyang Research Center around the 21st to meet with Executive Vice Chairman Chung. This meeting is interpreted as a reciprocal visit following Executive Vice Chairman Chung's visit to Samsung SDI's Cheonan plant in May.

Lee Jae-yong, Vice Chairman of Samsung Electronics (left), Chung Eui-sun, Executive Vice Chairman of Hyundai Motor Group (right)

Located in Hwaseong, Gyeonggi Province, Hyundai Motor's Namyang Technology Research Center is the core base of Hyundai Motor Group's research and development (R&D), developing everything from vehicle design to powertrains, advanced safety technologies, and convenience features. Currently, about 10,000 researchers work at the center, and notably, the Battery Pre-Development Team has been developing all-solid-state batteries aiming for mass production in 2025.

If the meeting between the two leaders takes place on the 21st, it is highly likely that both companies will share the current status of all-solid-state battery development underway at the Namyang Research Center. During the first meeting, when Executive Vice Chairman Chung and Hyundai Motor Group's technology development executives visited Samsung SDI's Cheonan plant, Samsung SDI executives and Samsung Advanced Institute of Technology officials explained Samsung's all-solid-state battery development status, and later both companies' executives toured the lithium-ion battery production line together.

Through this second meeting, the two leaders are expected to discuss specific supply plans for next-generation electric vehicle batteries. On the 14th, Executive Vice Chairman Chung presented a blueprint at the Blue House's 'Korean New Deal' national report event, aiming to sell 1 million electric vehicles by 2025 and secure more than 10% of the global market share.

To realize this plan, a smooth supply of electric vehicle batteries is crucial. Recently, Executive Vice Chairman Chung has been proactively building cooperative relationships to secure next-generation electric vehicle battery supply by meeting not only Vice Chairman Lee but also the heads of the three major battery manufacturers: LG Group Chairman Koo Kwang-mo and SK Group Chairman Chey Tae-won. If the second meeting with Samsung is successful, the possibility of second meetings with LG and SK is also being raised.

This content was produced with the assistance of AI translation services.