Um Ki-cheon, president of POSCO FUTURE M and head of the Korea Battery Industry Association (KIBA), said the Industrial Acceleration Act (IAA) that the European Union (EU) recently released to boost manufacturing within the bloc will be an opportunity for Korea's battery industry.
Meeting with reporters on the 11th at COEX in Seoul ahead of the opening of "InterBattery 2026," Um said, "The Industrial Acceleration Act recently released by the EU is, in my view, an opportunity that has come to 'K-batteries.'"
The Industrial Acceleration Act that the European Commission released on the 4th includes measures such as strengthening Europe-origin requirements to make it harder for Chinese-made electric vehicles to enter the market. Domestic companies believe they can respond proactively by using production lines they have established locally.
Citing the strengths of Korean-made batteries, Um said, "Korean batteries are not just about price competitiveness; their advantages are technology, quality, reliability, and the capability to co-develop," adding, "These elements have built the premium of Korea's battery industry."
Um took office on the 11th of last month as the ninth head of the Korea Battery Industry Association (KIBA). In his inaugural speech, he presented a vision to expand the battery industry—once centered on electric vehicles—across future industries including energy storage systems (ESS), robots, drones, and defense.
Um stressed that government support policies are needed to strengthen the battery industry's competitiveness. "Major competitor countries, including China, are actively supporting production subsidies," he said, adding, "Korea also needs policy support such as production subsidies." He continued, "The government and the industry must find solutions together so that corporations in the battery ecosystem do not move overseas and can continue operating domestically."
Regarding POSCO FUTURE M's materials strategy, he also mentioned plans to enter the LFP (lithium iron phosphate) cathode materials market. "Although the operating rates of some battery corporations have fallen due to a slowdown in the growth of the North American electric vehicle market, ESS demand is rising rapidly along with the expansion of artificial intelligence (AI) data centers," he said. "Including POSCO FUTURE M, the three materials companies plan to begin mass production of LFP cathode materials within this year," he explained.
He also shared news on developing materials for solid-state batteries, considered next-generation battery technology. "Solid-state batteries will be a next-generation technology through which Korean batteries can overtake China," he said, adding, "The government and corporations should jointly push strategic development."