Asia

Koreaʼs Policy Framework for Batteries 2030 KBattery Development Strategy

Key Initiatives

Announced in July 2021

Vision: Make Korea the worldʼs No. 1 nation in next-generation batteries by 2030. Strategic Directions 1. 2. 3.

Secure unique, top-tier technological capabilities - promote large-scale R&D through public-private cooperation. Build global bases - form an ecosystem through industry-academia collaboration. Expand the battery market - create public- and private-sector demands.

Secondary) Battery Industry Innovation Strategy Announced in November 2022

Vision: Make Korea the worldʼs strongest battery by 2030. Strategic Directions 1. 2. 3.

Secure a stable supply chain. Establish hubs for advanced technological innovation. Build a robust domestic industrial ecosystem.

Form a private-public and cross-industry "Battery Alliance"

Funded by Korea Trade Insurance Corporation and The Export-Import Bank of Korea KRW 3T USD 2.07B/5 years)

Critical mineral projects Chile, Canada, Australia etc.)

Building battery closed-loop system

Human resource development Investment in cutting-edge technologies

The government invests KRW 1T USD 690M, and the private sector invests KRW 19.5T USD 13.5B] by 2030

Build R&D center and production base LGES, Samsung SDI, SK On) Promote investment in domestic facilities

The government invests KRW 5T USD 3.45B] in loans and guarantees Build a domestic industry ecosystem

Professional development of 16,000 people by 2030

University courses specializing on batteries

Source: 2030 KBattery Development Strategy, Battery Industry Innovation Strategy (in Korean), Exchange rate: 1 KRW0.00069 USD

Extracted from the PDF; charts and images may read imperfectly.