The trade balance for Korean batteries, which had been on an upward trend over the past decade, entered negative territory this year as companies increasingly shift towards on-site production at their respective foreign markets.
Lotte Chemical invested 65 billion won ($54 million) into vanadium-ion battery firm Standard Energy, acquiring 15 percent of the company’s shares. The investment made Lotte Chemical the second biggest shareholder of the battery company.
SK Innovation has partnered with John B. Goodenough, a 2019 Nobel laureate, to co-develop battery technology for the future, the company said Thursday.
Korea JoongAng Daily Sitemap