LG Energy Solution opens submissions for battery tech partnership program
Korea's leading battery manufacturer, LG Energy Solution, announced Monday the launch of a new program to accept collaboration proposals from companies with innovative battery technologies, aiming to spur growth through technical partnerships.
Through its Open Submission Start-up program, LG Energy Solution will offer joint research and development opportunities or potential investment, following a thorough review and technology assessment of submitted proposals.
As part of the initiative, the company is currently accepting proposals from start-ups in six core areas of battery technology until June 30.
The categories include materials, cells, cell processing, battery packs, battery management systems and battery systems, encompassing technologies for system validation and integration.
Starting in the second half of 2025, the program will expand to accept battery-related proposals in any area, beyond the six initial categories. The range of eligible participants will also expand to include listed companies, allowing proposals to be submitted year-round.
To facilitate participation, LG Energy Solution has launched a dedicated page for the program on its Bridge portal, a platform for external collaboration and technology partnerships.
'Open innovation is a key strategy for transforming novel technologies and ideas into reality,' said Kim Je-young, chief technology officer of LG Energy Solution. 'We will continue seeking collaboration with external partners to lead the future of the battery industry.'
In March, during InterBattery 2025 — Korea's largest battery industry exhibition — the company emphasized that the next three to five years will be a golden period for enhancing product competitiveness, achieving cost innovation and building a flexible product portfolio.
In line with this vision, LG Energy Solution is actively seeking external partnerships to strengthen its technology base.
Separately, on Thursday, the company also announced an agreement with Seoul National University to expand its industry-academia cooperation center at the university. With the expansion, the center includes the mechanical engineering field, moving beyond its original focus on chemistry and chemical engineering since the center's launch in 2022.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
2 days ago
- Korea Herald
Kospi closes above 3,020 for first time in 3 1/2 years
Postelection optimism fuels sharp rally, lifting hopes of a market renaissance The Kospi did not just return — it roared back. On Friday, South Korea's benchmark index surged past the long-awaited 3,000 mark and kept climbing, closing at 3,021.84, up 1.48 percent from the previous session. It was the first time the Kospi ended above 3,020 since Dec. 28, 2021. The rally seemed modest at the start, with the index opening just 0.29 percent higher at 2,986.52. Retail investors led early gains with net buying, while foreigners and institutions sold into strength, keeping the benchmark tightly anchored below the key level. That restraint vanished once the Kospi cracked 3,000 around 10:45 a.m. Momentum took over, lifting the index past 3,010 by 11:20 a.m. The market stayed buoyant throughout the afternoon, hovering near 3,010, before accelerating again in the final minutes of trading. The Kospi hit an intraday peak of 3,022.06 just before the close, settling near the high of the day. It was a historic session: Not only did the Kospi reclaim the 3,000 level for the first time since January 2022, but total market capitalization hit a record 2,472 trillion won. According to the Korea Exchange, the Kospi first crossed the 3,000 mark on Jan. 7, 2021, peaking at 3,305 in July that year. But post-COVID-19 momentum faded amid a global slowdown and recession fears, pushing the index into a prolonged slump. For much of the past year, it remained trapped in a narrow range between 2,200 and 2,800. Gains were broad-based, with most of the Kospi's top market heavyweights finishing higher. SK hynix and LG Energy Solution each rose more than 4 percent, while Naver surged nearly 7 percent. Hyundai Motor climbed 1.5 percent and Samsung Biologics added 1.7 percent. The tech-heavy Kosdaq also posted solid gains, rising 1.15 percent to close at 791.5. Institutional and foreign investors bought a combined 84 billion won, offsetting retail selling. Friday's milestone extends a two-week honeymoon rally under President Lee Jae-myung's new administration, reinforcing renewed investor confidence despite external headwinds, including Middle East tensions and lingering tariff risks. The Kospi has staged a near-unbroken rally since June 2, the eve of the general election, logging only one down day on June 13. After crossing the 2,700 mark on Lee's first full day in office, the index has jumped 12 percent, buoyed by expectations for policy reform and pro-growth momentum. 'The Kospi reversed course earlier this year as dip-buying resumed and the Trump administration announced tariff deferrals, with the rally gaining further traction around the presidential election,' the Korea Exchange said. 'The launch of the new administration has eased political uncertainty and lifted sentiment on expectations of market-friendly policies.' Analysts say the market is responding sharply to government signals. 'The Kospi's strength is being driven more by expectations of capital market reform and a valuation rerating than by earnings growth,' said Kang Jin-hyeok, analyst at Shinhan Securities. He added that Friday's rally reflected investor optimism following Thursday's unveiling of a 30.5 trillion won ($22.3 billion) supplementary budget. "This, combined with expectations of one or two additional rate cuts later this year, is fueling hopes for increased liquidity in the market.' Market watchers expect momentum to persist, brushing aside concerns of postelection fatigue. 'If current earnings trends hold, the Kospi could reach 3,100 by year-end,' said Noh Dong-kil, strategist at Shinhan Securities. 'And if rising liquidity drives a further rerating in valuations, the index could climb as high as the 3,400 range.' 'Despite the rally, Kospi's valuation remains at a neutral level," said Lee Soo-jung of Meritz Securities, adding, "With stimulus measures such as the supplementary budget and revisions to the Commercial Act upcoming, there's a strong possibility of an overshoot in the Korean stock market.' Lee anticipated foreigners to remain key drivers. After nearly 10 months of net selling, foreign investors turned net buyers in May, purchasing 1.2 trillion won, followed by an additional 5.3 trillion won in June. They remain net sellers of 8 trillion won year-to-date. Still, caution lingers as external risks and a slowing domestic economy continue to pressure sentiment. 'Despite strong policy momentum and supportive catalysts unique to the Korean market, broader fundamentals and external risks — such as weak earnings prospects, trade tensions and geopolitical instability — should not be overlooked,' said Han Ji-young, strategist at Kiwoom Securities. 'A breakout above 3,100 this year is possible, but navigating volatility will be crucial at those levels.'
Korea Herald
2 days ago
- Korea Herald
EV battery recycling heats up in Korea despite market slump
Industry eyes rebound by 2030 as used batteries pile up, global recycling mandates kick in Korea's industry giants are stepping up their involvement in the electric vehicle battery recycling sector, signaling expectations that the currently subdued industry will evolve into a critical component of the battery value chain. LG Energy Solution, Korea's largest battery maker, recently formed joint ventures in Europe and the US — with France's Derichebourg and Toyota Tsusho Co., respectively — marking its first direct steps into battery recycling operations in both regions. SK Ecoplant, a construction engineering unit of SK Group, is expanding its European facility in the Netherlands to add 25,000 metric tons of annual black mass processing capacity, with completion scheduled for 2025. Posco-GS Eco Materials, a 51:49 joint venture between Posco Holdings and GS Energy, acquired full control of its battery recycler, Posco HY Clean Metal, by purchasing the 35 percent stake held by China's Huayou Cobalt in April. 'It is late compared to other countries' battery industries, as even Chinese companies such as CATL have their own recycling business,' said Park Cheol-wan, a car engineering professor at Seojeong University. 'Yet it is the right path for Korean companies, as securing a stable supply chain for minerals will become increasingly significant.' These moves come as the battery recycling sector continues to suffer a deep slump, driven by sluggish EV demand and sharp declines in the prices of key battery minerals such as nickel, lithium and manganese. International lithium carbonate prices, which were above 450 Chinese yuan ($63) per kilogram in January 2023, have fallen to around 50 yuan. Nickel prices also dropped significantly, from over $31,000 per ton to around $20,000. As a result, SungEel HiTech, one of only two battery recycling companies listed on Korea's tech-focused Kosdaq, has experienced declines in profitability and free cash flow for two consecutive years. A joint battery recycling project between SungEel HiTech and SK Innovation, announced in 2022, has been indefinitely delayed, while SK Ecoplant's planned facilities in Gyeongju, North Gyeongsang Province, and Kentucky have also shown no signs of progress for years. The industry, however, anticipates a significant increase in the number of used EV batteries as they reach the end of their life cycle, which is estimated to be around 10 years. This follows the surge in global EV sales in the 2010s, which surpassed one million units in 2015. With the continued growth of EV adoption, the battery recycling market — valued at $8 billion in 2022 — is projected to expand to as much as $53.57 billion by 2030, according to SNE Research. Experts say that entering the battery recycling business is increasingly becoming essential for staying competitive in the battery industry, as global policy trends push for recycled minerals to be a core component of battery supply chains. The European Union requires all EV batteries placed within the region to meet minimum recycled metal content thresholds by 2031: 16 percent for cobalt, 85 percent for lead, 6 percent for lithium and 6 percent for nickel. These requirements will increase by 2036. Meanwhile, EVs with some key battery components or minerals sourced from foreign entities of concern are excluded from US tax credits under the Inflation Reduction Act, pressuring battery makers to secure materials domestically, often through recycling. 'It is more a matter of broader business strategy than the profitability of recycling itself, whether companies choose to outsource recycled materials or secure them in-house,' Park added. '(With policy changes in place,) it may become faster to secure used batteries rather than invest in new mines, exploration, refining and metal procurement. To ensure a stable supply of critical minerals, battery makers will be competing as if at war.'
Korea Herald
3 days ago
- Korea Herald
MSCI sees limited progress in Korea's market accessibility
Lagging FX liberalization, scarce English disclosures dampen Korea's prospects for developed market status Korea's investment barriers for foreign investors remain in place despite recent foreign exchange market reforms, Morgan Stanley Capital International said Friday, casting doubt on the country's prospects for an upgrade in MSCI's index system. In its 2025 Global Market Accessibility Review, released ahead of next week's annual market reclassification announcement, MSCI acknowledged that Korea has implemented 'a series of foreign exchange market reforms,' including allowing global financial institutions to participate in the onshore interbank forex market and extending trading hours to 2:00 a.m. to better align with global time zones. 'Despite these reforms, the registration process continues to face operational hurdles. Moreover, the limited usage of omnibus accounts and over-the-counter transactions has constrained the impact of related regulatory initiatives,' MSCI said. The Korean stock market received a minus rating, indicating improvement is required, in six of the 18 assessment categories, down from seven last year. The decline reflects an upgrade in short-selling accessibility, which was raised to plus following the March 2025 resumption of short-selling activity. 'The ban on short selling was lifted for all Korean-listed securities. MSCI will continue to monitor developments to assess the stability of the regulations over time,' the index provider said. Despite progress, MSCI noted that key hurdles remain in areas such as foreign exchange liberalization, investor registration and account setup, clearing and settlement systems, and the availability of investment products. The firm also pointed out persistent shortcomings in corporate disclosure practices. 'Company-related information is not always readily available in English,' it said, referencing the ongoing phased rollout of mandatory English-language disclosures initiated in 2023. Korea remains classified in the MSCI Emerging Markets Index. To be upgraded to Developed Market status, a country must first be placed on MSCI's watch list for at least one year. Market optimism had grown that Korea might be added to the watch list this year, fueled by a more than 20 percent rally in the Kospi, driven by a retail buying surge and the new administration's push for shareholder-friendly reforms. But MSCI's latest review has tempered those expectations. Goldman Sachs projected that if Korea is added to the watch list, it could be upgraded to Developed Market status by 2026, potentially attracting around $30 billion in capital inflows. 'Inclusion on the watch list seems to be challenging this time,' said Seo Sang-young, a researcher at Mirae Asset Securities. 'What matters more than early inclusion is ensuring the Korean market is prepared and attractive through strong corporate fundamentals and improved accessibility to draw greater capital inflows from global investors.'
