The Korea Battery Industry Association issued a statement on the 7th expressing its intention to closely cooperate with the new U.S. administration's vision for a manufacturing renaissance following the election of President Donald Trump.
The association stated, "Korean battery companies are leading advanced industry investments in the U.S.'s declining Rust Belt and Sun Belt regions," adding, "This aligns with President-elect Trump's vision for a manufacturing renaissance and is actively contributing not only to regional economic revitalization and job creation but also to strengthening the competitiveness of American companies."
The association also noted that the second Trump administration presents many favorable aspects for the Korean battery industry. The pledge to impose high tariffs is advantageous for Korean companies that have made early investments locally, and if promises such as corporate tax cuts, reductions in electricity rates, and deregulation are realized, it will help improve the business environment for U.S. investment corporations.
The association said, "Going forward, the Korean battery industry will further strengthen the Korea-U.S. battery partnership to actively promote K-Battery's role as the largest investor in U.S. batteries, a key asset in the U.S.-China strategic competition, a core partner of U.S. automobile companies, and a contributor to regional economies and job creation," adding, "We will do our utmost to secure the new Trump administration's support for the Korea-U.S. battery alliance."
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