President Moon Visits US SK Innovation Battery Plant... Encourages Employees

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in, who visited the United States for the Korea-US summit, visited the SK Innovation electric vehicle battery plant construction site located in Georgia, USA, on the 22nd (local time) to encourage the employees.

This visit took place immediately after Korean battery companies announced large-scale additional investment plans in the US during the 'Korea-US Corporate Roundtable' economic event held in Washington D.C. the previous day.

President Moon inspected the electric vehicle battery Plant 1 and encouraged the executives and employees. This visit is significant in that it strengthened the Korea-US cooperative relationship to build a mutually beneficial battery supply chain.

The share of the US in global electric vehicle battery demand is expected to increase from 14.4% last year to 25% by 2030, and the Biden administration urgently needs to enhance battery supply capacity in the US to expand electric vehicle adoption, which is essential for achieving eco-friendly policies.

The government expects that Korean battery companies, possessing world-class manufacturing competitiveness, will create significant synergy effects through cooperation. Notably, Korea is also the first country to build an electric vehicle battery production plant in the US.

On the occasion of the Korea-US summit, the two countries agreed to establish a mutually beneficial cooperative relationship to strengthen supply chain resilience, and the expansion of Korean battery companies' investment in the US is expected to act as a catalyst for enhancing economic cooperation between Korea and the US.

Furthermore, as LG and SK begin full-scale operation of electric vehicle battery plants in the US, the use of domestic companies' materials, parts, and equipment will increase, which is expected to serve as an important cornerstone for domestic so-bu-jang companies to enter the global market.

Attending the visit were Minister of Industry Moon Seung-wook, SK Chairman Choi Tae-won, and Georgia Governor Brian Kemp.

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