[Bojo, Battery] Industry Steps Up and Ruling and Opposition Parties Unite... "Recapturing Global Hegemony"

Launch of the 22nd National Assembly's 'Secondary Battery Forum'

Editor's Note'Bojo, Battery' is a series that takes a closer look at the battery industry, which has emerged as the center of next-generation advanced industries. It examines the agile movements, strategies, and conflicts among governments and companies worldwide vying to dominate the battery manufacturing ecosystem. We will also cover the technological competition to create safer and longer-lasting batteries. Our goal is to serve as an 'assistant' to readers and investors by enhancing and supporting their understanding of the battery industry. We aim to share battery stories that are easy to approach.

On the morning of the 11th, about 15 members of the National Assembly gathered in the 2nd Small Conference Room of the National Assembly Members' Office Building in Yeongdeungpo-gu, Seoul, along with Minister Ahn Deok-geun of the Ministry of Trade, Industry and Energy, and dozens of executives from the three major secondary battery companies: LG Energy Solution, Samsung SDI, and SK On. This was the inaugural general meeting of the 'Secondary Battery Forum,' the first time the ruling and opposition parties united at the National Assembly level to support the secondary battery industry. Park Sung-min of the People Power Party and Shin Young-dae of the Democratic Party, both members of the National Assembly's Industry, Trade, Small and Medium Enterprises Committee, were appointed as co-chairs.

Shin Young-dae, co-chair of the 'Secondary Battery Forum' and member of the Democratic Party of Korea (left), and Park Sung-min, member of the People Power Party, shake hands at the inaugural general meeting of the Secondary Battery Forum held at the National Assembly Members' Office Building on the 11th. Photo by Kim Hyun-min kimhyun81@

The Korea Battery Industry Association, which hosted the general meeting, stated, "The next 2 to 3 years are the golden time when the global secondary battery hegemony competition will be decided," adding, "At a time when systematic and concentrated national policy support is crucial, we launched the Secondary Battery Forum to secure a super-gap competitiveness through legislative and policy proposals."

The Secondary Battery Forum consists of 15 lawmakers from both ruling and opposition parties, five secondary battery cell manufacturers, 16 material, parts, and equipment companies, and two remanufacturing and recycling companies. Companies share necessary matters for policy reflection on issues in the secondary battery ecosystem, while lawmakers listen to field voices and seek ways to support companies.

The forum researches policies to strengthen the entire industrial competitiveness of the secondary battery industry, including ▲establishing a circular economy ecosystem such as remanufacturing, reuse, and recycling of used batteries ▲next-generation secondary battery R&D ▲policy finance ▲workforce development ▲and fostering energy storage systems (ESS). It also explores support measures for ▲focused support of national advanced strategic industry specialized complexes in the secondary battery field ▲and stabilization of critical mineral supply chains.

Speaker of the National Assembly Woo Won-shik said in his congratulatory remarks, "Secondary batteries are important not only for growth potential but also strategically in the carbon-neutral energy transition," adding, "When our companies compete with all their might and risk everything, the National Assembly must step up and support them." Lee Sang-hwi of the People Power Party, the forum's research lead, said, "Ultimately, there is no distinction between ruling and opposition when it comes to our livelihood," and "Not only the industry but also politics and academia must work together so that secondary batteries, the future energy industry, can play a pivotal role representing South Korea."

Minister Ahn Deok-geun said, "Although the secondary battery industry is facing a crisis, as the saying goes, rough seas make skilled sailors; now is the time to prepare for a new leap," promising three major support measures: developing super-gap technologies, reflecting industry opinions on the U.S. Inflation Reduction Act (IRA) and the European Union (EU) Battery Regulation, and expanding investment incentives centered on advanced industrial specialized complexes. Minister Ahn also emphasized, "To establish a sustainable circular system and create new markets such as electric vehicle battery services (BaaS), the passage of the 'Used Battery Industry Promotion Act' is necessary," urging attention and support for the bill. The used battery support bill submitted by the industry last year is expected to be proposed soon.

At the inaugural general meeting of the 'Secondary Battery Forum' held at the National Assembly Members' Office Building on the 11th, Jinwon Park, Head of Communications Center and Chief Risk Officer (CRO) at LG Energy Solution, is delivering a greeting to member companies.
[Photo by Korea Battery Industry Association]

The industry expressed a welcoming stance. Park Jin-won, Head of Communications and Chief Risk Officer (CRO) at LG Energy Solution, said in his on-site remarks, "The secondary battery crisis is a significant issue that affects not only our generation but also future generations who will lead South Korea," adding, "Support from the National Assembly is a great strength in overcoming crises such as fierce competition with overseas rivals and the chasm (temporary demand stagnation)."

He continued, "LG Energy Solution will take the lead in helping South Korea regain global hegemony in the secondary battery industry and repay by enhancing the national economic power."

At the inaugural general meeting of the 'Secondary Battery Forum' held at the National Assembly Members' Office Building on the 11th, Kim Jun-hyung, Head of Secondary Battery Materials at POSCO Holdings, is delivering a greeting to member companies.
[Photo by Korea Battery Industry Association]

Kim Jun-hyung, Head of Secondary Battery Materials at POSCO Holdings, said, "Advanced countries are supporting their domestic secondary battery industries by easing various regulations and creating support measures, while China controls the global supply chain by dominating the critical minerals sector through subsidies."

Kim added, "We expect proactive resolution of issues that companies alone cannot handle, such as training specialized secondary battery personnel and providing subsidies, through various policy research and legislative activities," and "We will take the lead in supporting all necessary matters when reviewing improvement measures."