KOTRA Partners with Korea Battery Industry Association to Support Overseas Expansion of Secondary Battery Companies

Business Agreement for Supporting the Discovery of Overseas Material Suppliers and Other Cooperation

Yoo Jung-yeol, President of KOTRA (left), is taking a commemorative photo after signing a business agreement with Jung Soon-nam, Vice Chairman of the Korea Battery Industry Association.
[Photo by KOTRA]

[Asia Economy Reporter Kim Heung-soon] KOTRA held a signing ceremony for a Memorandum of Understanding (MOU) with the Korea Battery Industry Association (KBIA) on the 17th at its headquarters in Yeomgok-dong, Seoul, to support the overseas expansion of domestic companies in the secondary battery sector.

According to this MOU, the two organizations will promote business exchanges including ▲customized marketing support for domestic companies ▲investigation of market and policy trends by overseas regions ▲support for discovering overseas material suppliers for secondary batteries ▲support for overseas talent recruitment.

As domestic battery manufacturers continue to relocate overseas and the overseas expansion of related domestic companies increases, KOTRA will collect policy trends by country through its 127 overseas trade offices and provide this information to domestic small and medium-sized enterprises (SMEs) and mid-sized companies.

They also plan to support the discovery of overseas supply sources to ensure stable raw material procurement for domestic secondary battery companies. Additionally, they will regularly link export consultation meetings to the 'InterBattery' exhibition, one of the world's top three secondary battery exhibitions held in Korea, to help expand exports of domestic secondary battery companies.

Yoo Jung-yeol, President of KOTRA, said, "The global market for secondary batteries, a key means of eco-friendliness and digitalization, is expected to continue growing." He added, "Taking this MOU as an opportunity, we will actively support the overseas market expansion of K-Battery by leveraging the strengths of both organizations."