South Korea will invest 280 billion won (US$191 million) over the next four years to develop next-generation battery technologies, covering research into all-solid-state, lithium metal, and lithium sulfur batteries.

The government aims to strengthen the competitiveness of its secondary battery industry amid rising global competition, particularly from China.

It also will create a 10-year roadmap to support the industry’s shift through technology advances.

The plan includes efforts to reduce reliance on Chinese materials and critical minerals.

The government also plans to increase subsidies for EVs, lower some vehicle taxes, and encourage battery demand in sectors such as defense, robotics, and shipping.

Around 100 billion won (US$68.2 million) will go to a supply chain stabilization fund, along with expanded low-interest loans for companies investing in critical minerals.

Additional special industrial complexes for battery-related industries are also planned.

🔗 Source: Yonhap