Pohang City and Korea Environment Corporation Join Hands to Establish Electric Vehicle Resource Circulation System

Signing of MOU for Establishing EV Resource Circulation System... Cooperation to Create Resource Circulation Hub

Mayor Lee Kangduk: "We Will Do Our Best to Lead Circular Economy Innovation and Become a Green Industry Outpost"

Pohang City and the Korea Environment Corporation are joining forces to establish a hub for the circular economy in Korea and to vitalize the electric vehicle battery resource circulation cluster.

Pohang City Hall.

On the 11th, Pohang City signed a 'Business Agreement for the Establishment of an Electric Vehicle Resource Circulation System' with the Korea Environment Corporation (President Ahn Byungok) at Pohang City Hall.

As global demand for electric vehicles surges and interest in the battery recycling and reuse market increases, the two organizations have agreed to cooperate through this agreement to lead the innovation of the circular economy for batteries and the activation of the electric vehicle industry, while expanding support to attract more companies to the region.

According to the agreement, the two organizations will cooperate on ▲building an industrial ecosystem for battery resource circulation upstream and downstream ▲establishing and vitalizing a resource circulation system for key electric vehicle components ▲developing resource circulation plans ▲supporting technology development, education, and public relations.

In particular, they plan to actively provide the necessary support to ensure that the electric vehicle battery resource circulation cluster, scheduled for completion in the first half of 2025 at the Pohang Blue Valley National Industrial Complex, becomes a national hub for the circular economy.

The city will actively support the settlement of Environment Corporation's operational personnel in the region once the resource circulation cluster is established, and will also promote collaborative projects such as programs to raise awareness of the circular economy and exchanges among cluster members.

In addition, the city plans to concentrate the electric vehicle battery resource circulation cluster, the electric vehicle battery inline automatic evaluation center, and the secondary battery integrated management center in Blue Valley, attract green battery companies, and develop the area as a forward base for the battery innovation industry.

The two organizations will hold regular meetings to faithfully implement the agreement, review cooperation matters, and jointly pursue projects that can be reflected in national policies, such as discovering government-funded projects and nurturing talent.

Mayor Lee Kangdeok said, "Pohang is holding the key to the circular economy with batteries and is emerging as a secondary battery city. We will do our best to make Pohang a forward base for the green industry by cooperating with the Environment Corporation to vitalize the electric vehicle industry and lead innovation in the circular economy."

Pohang City is actively making proposals to the government to expand the industrial complex infrastructure so that the confirmed 14 trillion won corporate investment by 2027 can be made in a timely manner, and is pursuing follow-up projects for the secondary battery specialized complex such as research and development and talent cultivation, while expanding its global network to Europe, the United States, and beyond.