Chungnam Province is launching a project for the "Development of Industrial Technology for Reusing Used Batteries from Electric Vehicles." The province plans to carry out this project within the Boryeong Gwanchang Industrial Complex, focusing on the development of technologies for reusing and recycling used electric vehicle batteries, as well as establishing equipment and infrastructure and conducting demonstrations. View of Gwanchang Industrial Complex. Provided by Chungnam Province.
[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province is fostering the reuse of electric vehicle (EV) waste batteries as a future regional growth industry.
The province announced on the 3rd that it was finally selected as the recipient of the Ministry of Trade, Industry and Energy’s ‘Industrialization Technology Development for Reuse of EV Waste Batteries’ project.
Following the selection, the province plans to develop reuse and recycling technologies for EV waste batteries, establish equipment and infrastructure, and conduct demonstrations within the Boryeong Gwanchang Industrial Complex.
The project is led by the Korea Automotive Technology Institute and involves Chungnam Technopark, Korea Institute of Industrial Technology, Korea Electronics Technology Institute, Korea Battery Industry Association, Soonchunhyang University, and others.
These institutions will focus on ▲developing a battery and vehicle data platform based on actual EV driving ▲developing verification technologies for reused battery application products ▲developing optimal recycling process technologies for lithium-ion batteries, among other key tasks.
To this end, the province plans to invest a total of 30 billion KRW over four years starting this year, including 15 billion KRW in national funding.
The province expects that upon successful completion, this project will present a successful model for discovering and fostering alternative industries in coal phase-out regions and accelerate the transition to a low-carbon industrial structure.
The EV waste battery reuse project in Chungnam was planned and proposed to the government by the province and Boryeong City to foster alternative industries replacing coal-fired power generation. It is significant as it marks the first step toward energy industry transformation in Boryeong, which has been economically impacted by the early closure of coal-fired power plants.
Above all, the project is expected to create synergy by linking with the ‘Automobile Tuning Industry Ecosystem Creation Project’ that the province and Boryeong City have been promoting since last year in the Jupo-myeon Gwansan-ri area of Boryeong City.
The automobile tuning industry ecosystem creation project involves investing 25.3 billion KRW by 2025 to convert internal combustion engine vehicles into electric vehicles and establish a performance evaluation infrastructure.
Yoo Jae-ryong, Director of the Future Industry Bureau of Chungnam Province, said, “As domestic and international demand for EVs increases, the volume of waste batteries is also expected to surge, making the development of industries utilizing used batteries urgent. Reflecting this situation, the province plans to lay the foundation for Chungnam to become a hub for the used battery industry.”
Meanwhile, the number of registered EVs in South Korea has rapidly increased from 1,464 units in 2013, 5,712 in 2015, 25,108 in 2017, 89,918 in 2019, to 205,162 units as of October last year.
Along with this, the amount of EV waste batteries is projected to increase to 1,099 units this year, 2,355 in 2023, 4,831 in 2024, 8,321 in 2025, 17,426 in 2026, and 29,508 in 2027.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
