Jeonbuk Province Operates Promotional Booth at 'InterBattery Europe 2023'

Three-Day Event from 14th to 16th in Munich, Germany

Saemangeum Promotion Booth Operation... Corporate Attraction Activities

Establishing a Global Battery Core Material Supply Base

Jeonbuk Province's efforts to designate Saemangeum as a secondary battery special zone continue overseas.

Jeonbuk Province announced that it will participate in 'InterBattery Europe 2023,' held from the 14th to the 16th in Munich, Germany, together with the Saemangeum Development Agency, to promote the Saemangeum Industrial Complex, which is rapidly emerging as a mecca for secondary batteries.

The province also participated in 'EV Trend Korea 2023,' held from March 15 to 17 at COEX in Seoul, where it introduced the investment environment in Saemangeum preferred by secondary battery companies and carried out corporate attraction activities.

The Smarter E Europe 2023 Exhibition Secondary Battery Booth Layout. [Image Source=Jeonbuk Province]

This exhibition, ‘The Smarter E Europe,’ is the largest energy exhibition in Europe. It is divided into sections such as batteries and ESS (Energy Storage Systems). Among them, ‘InterBattery Europe 2023’ is a battery-specialized expo jointly hosted by the Korea Battery Industry Association, COEX, and KOTRA.

This year, over 100 domestic and international companies and organizations applied to participate, with leading domestic companies in the global battery industry such as LG Energy Solution, Samsung SDI, LS Electric, Hansol, and Enchem participating in large numbers. Approximately 85,000 visitors are expected.

With various overseas companies participating alongside domestic firms, the province will operate a joint booth with the Saemangeum Development Agency at this expo. The booth will promote the Saemangeum Industrial Complex to companies worldwide and provide investment consultations. By reviewing leading technologies and advanced cases of battery companies worldwide, the province plans to take the lead in attracting domestic and foreign companies. Other regional promotional booths will be operated by Chungbuk Province, Gyeongbuk Province, and Pohang City.

During the 8th local government term, the province focused on the secondary battery industry, known as a driving force for South Korea's economy. In particular, it challenged the national advanced strategic industry specialized complex designation contest in the secondary battery field, aiming to nurture it as a future growth new industry.

The province judged that the continuous investment boom by companies in the Saemangeum Industrial Complex is the most important factor for the designation of the secondary battery special zone. It has been conducting corporate attraction activities related to secondary batteries together with the Saemangeum Development Agency and Gunsan City.

Especially since the 8th local government term, the province has devoted itself to corporate attraction activities. By the 15th, 15 secondary battery companies have decided to invest. The total scale amounts to 3.9462 trillion KRW, with 3,815 employees. Recently, global companies such as LG Chem-Huayou Cobalt and SK On-Ecopro Materials-GEM signed investment agreements.

The Saemangeum Industrial Complex has recently shown a significant ripple effect in corporate attraction. Many companies are proceeding with investment attraction procedures, and inquiries continue, raising expectations that Saemangeum will develop into the best global supply base for secondary battery materials.

Companies such as Cheonbo BLS and Epecamtec in the electrolyte field, which previously signed investment MOUs, as well as Battery Solution (cathode materials) and Sungil Hightech (recycling), have started trial operations and product production, showing tangible results. Large companies like LG Chem and SK are expanding and increasing investment scale following confirmed investment attraction.

Accordingly, the province responded swiftly by establishing a secondary battery team in its organizational restructuring. It is also establishing support systems for research and development and workforce training among institutions and organizations, including the establishment of secondary battery-related departments at Jeonbuk National University. Additionally, efforts are being made to nurture the secondary battery industry as a new growth engine through events such as the secondary battery special zone resolution rally involving members of the National Assembly, Jeonbuk Homeland Headquarters, the Jeonbuk Residents Association in Seoul, and university students in the Jeonbuk region.

Yoon Dong-wook, head of the Corporate Attraction Support Office of Jeonbuk Province, said, “This exhibition, where companies related to the rapidly growing secondary battery industry gather in one place, will be a great opportunity to promote the Saemangeum Industrial Complex to the world.” He added, “We will continue our efforts to promote Saemangeum and attract companies.”

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