The government plans to invest a total of 117.2 billion won by 2028 to develop three promising batteries: all-solid-state, lithium metal, and lithium sulfur batteries, and all three battery companies are expected to participate.

The Ministry of Trade, Industry and Energy announced on the 11th that it will begin full-scale development of next-generation battery technology, including all-solid-state batteries, dubbed the “dream battery,” in 2024.

The Ministry of Trade, Industry and Energy said that this government project was launched in response to voices that various combinations are possible depending on the materials and methods used, making it difficult for individual companies to develop all the necessary technologies and secure an appropriate technology portfolio.

In response to the above voices, the Ministry of Trade, Industry and Energy plans to promote this project with the goal of broadly fostering the related ecosystem from the early stages of the market through a large-scale project in which not only battery cell companies but also material, component and equipment companies participate.

Minister of Trade, Industry and Energy Ahn Deok-geun attended the public-private joint battery alliance on the 11th, reviewed key tasks that the public and private sectors will jointly respond to in 2024 and discussed future response directions.

At this event, the three battery companies shared their views on the need for a public-private joint next-generation technology development project and expressed their intention to participate.

Next-generation batteries are secondary batteries that use materials different from existing ones to dramatically improve battery performance and safety. They are attracting attention as a game changer as current commercial batteries reach their technological limits. there is.

In Korea, development is currently underway at the individual company level, centered around the three battery companies, but it is expected that this project will create a next-generation battery ecosystem that includes domestic parts, materials, equipment, cells, and finished vehicle companies.

Meanwhile, in addition to next-generation batteries, the alliance discussed various topics that the public and private sectors will pursue together in 2024.

To develop popular batteries, the three battery companies, EcoPro, and LNF are making investments in LFP products, and the Ministry of Trade, Industry and Energy plans to support the acquisition of private technology by promoting a sodium battery technology development project this year, following the LFP battery project last year.

Regarding domestic investment, our companies plan to invest a total of more than 9 trillion won in facilities and research and development (R&D) in 2024.

Of these, a total of 7.1 trillion won will be invested in facility investment, and major facilities include a next-generation battery pilot line, a 4680 cylindrical battery production line, an LFP cathode material production line, and a cathode material production line including graphite processing.

Minister Ahn Deok-geun proposed five major tasks that the public and private sectors must solve together this year: △development of next-generation battery technology, △development of popular products, △response to trade issues such as the Inflation Reduction Act (IRA), △self-reliance in the supply chain through domestic investment, and △establishment of a battery full-cycle circulation system. He stated that in order to solve these tasks, he would further strengthen communication and cooperation between the public and private sectors, starting with this alliance.