Kim Dong-myung, president and CEO of LG Energy Solution, said on the 11th, "We will work hard on three activities—orders, development, and production—by actively leveraging North American energy storage system (ESS) investment asset to deliver as much performance as possible."

Kim said this to reporters before attending the "2026 Korea Battery Industry Association (KIBA) board of directors meeting," held at JW Marriott Hotel Seoul in Seocho-gu, Seoul, on the same day.

Kim Dong-myung of LG Energy Solution speaks with reporters during the board meeting of the Korea Battery Industry Association (KIBA) at the JW Marriott Hotel in Seocho-gu, Seoul, on the 11th. /Courtesy of LG Energy Solution

Regarding ending joint venture (JV) arrangements with original equipment manufacturers (OEMs), Kim said, "There are no additional termination plans," but added, "We want to make the best decision after considering various factors, including market conditions."

On the 6th, LG Energy Solution said it would acquire Stellantis' equity in their Canadian joint venture, "NextStar Energy," and convert it into a wholly owned subsidiary. The move reflects weaker demand for electric-vehicle batteries.

As the company targets the global ESS market with lithium iron phosphate (LFP) batteries, it also said it would pursue localization of key materials that currently rely heavily on Chinese supply. Kim said, "There are many corporations seeking to produce domestic LFP materials, including L&F," adding, "We are especially working to qualify North American-origin materials."

Regarding the second round of bidding for the 1 trillion won ESS central contracting market led by the government in Korea, Kim said, "Compared with the first round, we significantly cut costs and raised the localization rate," adding, "Since we produce packs and L.I.N.C in Gumi and Gwangyang, we expect good results."

Meanwhile, the Battery Industry Association appointed Eom Gi-cheon, president and CEO of POSCO FUTURE M, as the ninth chair. Kim will step down from the chair post he held for three years.

Kim said, "The battery industry went through difficulties, buffeted by various circumstances, and while there were shortcomings, I believe there were contributions as well," adding that he felt "bittersweet."

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