Battery Association "Welcomes Used Battery Development Plan... A Great Boost for Industry Growth"

The Korea Battery Industry Association expressed its welcome on the 10th regarding the 'Legal, Institutional, and Infrastructure Establishment Plan for the Development of the Used Battery Industry' announced at the 'Economic Ministers' Meeting.'

In a statement released that day, the association said, "It will be a great help in fostering a 'private-sector-centered used battery industry' based on the principle of private autonomous transactions."

On the same morning, the government announced plans to legislate the 'Act on the Promotion of the Used Battery Industry and Support for Supply Chain Stabilization' (hereinafter referred to as the integrated bill) and to establish a battery full-cycle traceability management system. This is a follow-up measure to the 'Plan to Strengthen the Competitiveness of the Secondary Battery Full-Cycle Industry' disclosed last year.

The association especially stated, "Most of the key contents of the proposals submitted by the industry to the government last year have been reflected in this government measure," expressing gratitude to the government for incorporating the industry's voices as much as possible.

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is attending and speaking at the Economic Ministers' Meeting held at the Government Seoul Office in Jongno, Seoul on the 10th. Photo by Jo Yong-jun jun21@

The association expects that through the enactment of Korea's first battery-specialized law, regulations for related market formation and safety management will become clearer, which can lead to integrated and systematic policies for the used battery industry.

It also said, "By establishing a battery full-cycle traceability management system, it will be possible to revitalize the used battery market and industry, respond to trade regulations, and prevent illegal disposal," adding, "Management throughout the full cycle of used batteries and the utilization of various information have become possible."

Furthermore, it mentioned that by establishing a distribution system for used batteries, including transaction principles, business registration system, transportation and storage standards, and transaction information systems, the fairness and safety of the used battery market will be strengthened, expecting market revitalization through this.

Park Taesung, the full-time vice chairman of the Battery Association, said, "We request related support such as legislative action by the National Assembly and budget for the establishment of the traceability management system so that this used battery industry development plan can be promoted with speed," adding, "The association will also maintain continuous communication and close cooperation with the government and related industries so that the used battery industry can quickly establish itself as a future innovative industry."

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