The government will give more than 38 trillion won ($28.8 billion) of financial support to the rechargeable battery industry over the next five years to help boost the competitiveness of the sector, the Finance Ministry said Wednesday.
LG Energy Solution CEO Kwon Young-soo was named as the new chairman of the Korea Battery Industry Association (KBIA).
Korea’s lead in the battery industry has been taken by China. A year ago, three Korean battery companies — LG Energy Solution, SK Innovation and Samsung SDI — dominated the world. This year, China took the lead...
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