Korean Minister Suggests Battery Industry May Launch Structural Adjustments.

According to South Korea's "Dong-A Ilbo," citing an unnamed industry official, South Korean Minister of Industry, Trade and Resources Kim Jung-kwan recently met with battery manufacturers' executives and hinted that the battery industry may need structural adjustments following the reform of the petrochemical industry. Kim Jung-kwan urged executives to seriously consider whether the current "three giant framework" can continue. The three major battery producers in South Korea are LG Energy Solution, SK On, and Samsung SDI. Industry insiders attending the meeting interpreted Kim Jung-kwan's remarks as indicating that at least one battery manufacturer may be forced to exit the market. Industry estimates show that by December 2025, South Korean domestic battery manufacturers collectively faced cancellations or reductions of orders worth 280 trillion Korean won.