Minister And Duck-geun of the Ministry of Trade, Industry and Energy said, "We will work to boost electric vehicle demand, such as through tax reductions for electric vehicle purchases and the expansion of charging infrastructure, to overcome the 'chasm' (temporary demand slowdown)."
Minister And noted at the opening ceremony of the battery industry’s leading exhibition, "InterBattery 2025," held on the 5th at COEX in Gangnam, Seoul, that this year marks the 13th edition of InterBattery, with a record number of 688 domestic and international battery corporations participating in 2,330 booths.
Minister And stated, "We plan to continue supporting the diversification of battery demand beyond electric vehicles, including increasing the energy storage system (ESS) market size to up to 15 times the current domestic ESS production capacity by 2038."
He emphasized, "I returned after visiting the U.S. last week, where I requested the maintenance of a stable investment environment for our corporations," adding, "Even at this moment, a joint public-private delegation is actively communicating with the U.S. side, conducting outreach in U.S. battery investment regions."
Minister And added, "To stabilize the supply chain, we will actively review various policy measures, such as finances, tax systems, and funds, to promote domestic production of key battery minerals and materials, including anode materials."
InterBattery runs from today until the 7th. During the event period, several side events are scheduled, including the Battery Conference, Korea-Germany Battery Seminar, Battery Corporations Recruitment Briefing, U.S. EV Forum, and Global Battery Minerals Seminar.
Notably, this year, participation by global battery manufacturers and overseas corporations has increased. The number of overseas participants rose from 115 last year to 172 this year, accounting for 25% of total participants. Corporations from China, such as BYD and EVE, as well as from the U.S., Sweden, and the Netherlands are participating.