Batteries
S.Korea, Indonesia to strengthen battery materials supply chain
The co-work focuses on leveraging Indonesia's rich nickel resources and reducing S.Korea's reliance on Chinese raw materials
By Jan 18, 2024 (Gmt+09:00)
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The Korea Battery Industry Association (KBIA) announced on Thursday that it held a meeting to discuss co-working for the EV battery raw materials supply chain at Lotte Signiel Seoul, South Korea.
Attendees included Yang Byung-nae, Deputy Minister of Trade, Industry and Energy, and Septian Hario Seto, a deputy at the Coordinating Ministry for Maritime Affairs and Investment.
Deputy Minister Yang expressed hope for the Indonesian government's active support and attention, encouraging more investment from Korean automobile and battery companies in Indonesia.
This investment would leverage Indonesia's abundant key mineral resources, such as nickel, benefiting both countries.
South Korean companies expect cooperation with Indonesia to reduce reliance on Chinese raw materials.
Key players from the EV and battery sectors in South Korea, such as Hyundai Motor Co., LX International Corp., Korea Zinc Inc., and SK Ecoplant, participated in the meeting.
These companies have either already invested or are planning investments in Indonesia to secure a stable supply chain for EV battery raw materials.
Write to Nan-Sae Bin at binthere@hankyung.com
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