Launch of Public-Private Council for Electric Vehicle Charging Industry: "Targeting 10% of Global Market by 2030"

Ministry of Industry Launches Mobility Charging Industry Convergence Alliance

Electric vehicle charging. Photo by Hyunmin Kim kimhyun81@

The government plans to increase South Korea's global electric vehicle (EV) charging market share from the current 1% to 10% by 2030 and support the development of competitive charger manufacturers.

On the afternoon of the 13th, the Ministry of Trade, Industry and Energy held a joint public-private 'Mobility Charging Industry Convergence Alliance' launch ceremony at the Westin Chosun Hotel in Jung-gu, Seoul, and announced the 'Policy Directions for Fostering the EV Charger Industry and Entering the Global Market.'

According to the International Energy Agency (IEA), the global number of electric vehicles is expected to increase from 30 million last year to 240 million by 2030. Accordingly, the number of EV chargers is also expected to grow from about 2.7 million units last year to approximately 12.7 million units by 2030. The Ministry of Trade, Industry and Energy explained, "With the growth of the eco-friendly and electric vehicle markets, the related charging infrastructure market is expected to expand to $325 billion by 2030," adding, "We have prepared support policies to strengthen the competitiveness of domestic companies and secure a leading position in the global market."

In the announcement, the government set a goal to secure five core technologies by 2030 and nurture more than five charger manufacturers with sales exceeding 50 billion KRW each. Through this, it aims to raise South Korea's global EV charging market share from last year's 1.2% to 10% by 2030. To achieve this, three main tasks will be focused on: strengthening charger industrialization capabilities, expanding overseas market entry, and revitalizing the charger ecosystem. The five core technologies include ultra-fast charging, wireless charging, charging robots, intelligent charging, and cybersecurity software (SW).

The Ministry of Trade, Industry and Energy also launched the 'Mobility Charging Industry Convergence Alliance' on the same day, with participation from over 40 companies including charger manufacturers, parts suppliers, charging service operators, and testing and certification agencies, as well as more than 20 institutions. This organization will operate through four divisions?manufacturing and technological innovation, service and grid convergence, testing, certification and reliability enhancement, and market entry cooperation?while identifying policy tasks.