Choi Sang-mok Visits LG Energy Solution: "Plan to Develop Used Battery Nurturing Method Within the Year"

The government has announced its plan to establish legislation within this year to support the 'used battery' industry. This aims to institutionalize policy support amid the growing importance of handling used batteries that are replaced or discarded alongside the rapid growth of the electric vehicle market.

According to the Ministry of Economy and Finance on the 24th, Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, recently visited LG Energy Solution's energy plant in Ochang, Chungbuk, and stated, "We will prepare a support bill to foster the used battery industry within this year."

Deputy Prime Minister Choi explained, "Since January, we have been regularly reviewing current issues through the joint 'Secondary Battery Task Force (TF)' with related ministries," adding, "We also plan to establish a 'battery full-cycle traceability system' for the domestic supply chain of key battery minerals such as lithium and nickel by 2027."

Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok visited the Enterprise Support Hub at the 2nd Pangyo Techno Valley in Seongnam, Gyeonggi Province, on the afternoon of the 8th as part of an on-site visit to the advanced industry cluster, where he received a facility briefing from an official of the LH Seongnam Business Headquarters.

원본보기 아이콘

At the on-site meeting, industry representatives expressed the opinion that "regulations related to used batteries need to be promptly organized" and "the number of inspection agencies conducting comprehensive safety investigations of reused batteries should be expanded." In response, the government decided to increase the number of inspection agencies from the current five, according to the Ministry of Economy and Finance.

On the 22nd, Deputy Prime Minister Choi also visited Samsung Display's Asan Campus 2 to tour the production facilities. He explained the government's position, stating, "We will swiftly complete the preliminary feasibility study for the technology development project, including the construction of the Smart Modular Center (demonstration center) for inorganic light-emitting display demonstration, within the first half of this year."

Inorganic light-emitting displays are self-emissive displays based on inorganic materials, representing a new technology that overcomes the limitations of organic light-emitting diodes (OLEDs), which are vulnerable to oxygen and moisture.

On the 8th, Deputy Prime Minister Choi visited the 2nd Pangyo Techno Valley Enterprise Support Hub to listen to the opinions of resident companies. The Ministry of Economy and Finance added that this visit was intended to check whether support measures for major 'advanced industry clusters' are being effectively implemented, and that such on-site visits will continue.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.