Korea's battery industry pledges competitiveness drive as officials mark Battery Day

South Korea's industry ministry said it would work with the private sector to draw up a package of measures to strengthen the country's battery industry within the year, as officials and executives gathered in Seoul to mark the sector's annual day.

At the sixth Battery Industry Day ceremony at the Josun Palace hotel in Seoul, Lee Min-woo, head of the ministry's industrial growth office, said the government would discuss ways to enhance the effects of a domestic production promotion tax incentive now under consideration, and would use those talks to prepare the competitiveness measures. About 200 people attended, including battery industry officials and award recipients, along with independent lawmaker Kim Jong-min and Eom Ki-cheon, chairman of the Korea Battery Industry Association and chief executive of POSCO Future M. Eom delivered the opening address and Kim gave an encouraging speech.

Lee said the battery industry faces a point at which it must secure fundamental competitiveness as global competition intensifies, calling for technological and price competitiveness, stable supply chains, self-reliance through management innovation, and cooperation among cell makers and materials, parts and equipment companies.

"The government will support our battery industry so that it can take a great leap forward after its time of charging," Lee said.

The ministry presented government honors to 20 people for contributions to the industry's development: one Silver Tower Order of Industrial Service Merit, one industrial medal, one presidential citation, four prime ministerial citations and 13 ministerial citations. The Silver Tower order went to Lee Kang-myung, chief executive of battery recycler SungEel HiTech, who has led the company since March 2000 and was credited with commercializing Korea's first integrated battery recycling process and building a system for circulating resources.

The ceremony has been held annually since 2021 to publicize the industry's achievements over the year and to honor and bring together those who contributed to it, with this year's edition the sixth.