4-Year Support of 13 Billion KRW for Development of Used Battery Recycling Products

Performance and Safety Evaluation and Demonstration Support for Used Battery Application Products

Visitors are seen touring the LG Energy Solution (formerly LG Chem) exhibition booth at the battery industry exhibition 'InterBattery 2020' held at COEX in Gangnam-gu, Seoul on October 21 last year. Now in its 8th year, InterBattery showcases the core technologies of 'K-Battery,' including batteries and key materials for automobiles, smartphones, and energy storage systems (ESS). Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Moon Chaeseok] The government will actively promote the development of recycled products using spent batteries over the next four years.

The Ministry of Trade, Industry and Energy announced on the 18th that it will support 13 billion KRW over four years starting this year to develop technologies for recycling spent batteries into high value-added products.

According to the ministry, batteries used for a certain period in electric vehicles (EVs) are expected to increase their utilization value by being applied in other fields such as energy storage systems (ESS) and streetlights.

However, it is necessary to establish appropriate evaluation methods to ensure product reliability.

Accordingly, the ministry plans to provide a total of 13 billion KRW in national funding over four years starting this year to carry out performance and safety evaluation technologies, development of mobile application products, and development and demonstration of megawatt-hour (MWh) class ESS technologies.

An official from the ministry said, "We plan to establish evaluation and utilization standards for spent batteries and support the development of diverse and safe product groups using spent batteries. We will support efficient recycling of spent batteries and help related companies secure competitiveness."