Ministry of Industry Hosts Used Battery and Rare Metal Circular Economy Win-Win Lounge

The Ministry of Trade, Industry and Energy announced on the 10th that it held the '2024 Circular Economy Large and Small-Medium Enterprise Win-Win Lounge' to strengthen cooperation between demand and supply companies in the circular economy.

The circular economy refers to an eco-friendly economy that maximizes resource efficiency throughout the entire product lifecycle. This event was held under the theme of 'Post-Use Battery Circular Economy and Rare Metal Recycling,' which has gained importance recently due to the European Union (EU) battery regulations and digital product passports, with a total of 55 companies participating.

In particular, the battery and metal sectors are considered the most urgent areas for circular economy development due to the global expansion of electric vehicle adoption and intensified competition for securing rare metals.

The event was largely composed of two programs: 'Business Partnering' and 'Business Model Presentation and Exhibition.' Business Partnering is a consultation meeting to connect supply companies with demand companies to discover cooperative projects. The Business Model Presentation and Exhibition program selected 10 supply companies to promote their circular economy technologies and products to demand companies.