Director Kim Yong-moon Visits Car Battery Remanufacturing Company 'Poen'... Discusses Overseas Expansion

Kim Yong-moon, President of the Korea Institute of Startup & Entrepreneurship Development, is inspecting the battery remanufacturing process with Choi Sung-jin, CEO of Poen.

Kim Yong-moon, President of the Korea Institute of Startup & Entrepreneurship Development, visited the Hwaseong factory of battery remanufacturing startup 'Poen' on the 22nd.

This visit was initiated to discuss business-related opinions, including overseas market expansion, following Poen's participation in the Institute's 'In-house Venture Development Program' and its selection in November last year for the Ministry of SMEs and Startups' 'Baby Unicorn 200 Development Project.'

Poen is a startup spun off from Hyundai Motor Group, developing upcycling technology for electric vehicle batteries. It upcycles used EV batteries to restore their original performance through a series of processes including disassembly, repair, and reassembly. In addition, Poen is gradually expanding its business models to include battery reuse and residual value evaluation.

During the visit, President Kim received an explanation of Poen's upcycling technology and directly observed the battery remanufacturing process. Afterwards, they had an open discussion on the domestic and international EV battery market outlook and overseas expansion.

President Kim said, "Promising in-house venture startups are continuing on a successful commercialization path through the 'In-house Venture Development Program.' We will continuously listen to voices from the field and strive to revitalize in-house venture startups."

Poen CEO Choi Sung-jin stated, "We will do our best to ensure Poen grows into a global unicorn through relentless technology development and business expansion."

Meanwhile, in October last year, Poen launched an 'Electric Vehicle Battery Pack Refurbishing Service' in Jeju Island. This service sells repaired EV batteries using battery pack upcycling technology at 50% of the price of new products.