Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
InterBattery Europe fails to attract exhibitors
An official of the Pohang City Government introduces the city to visitors during InterBattery 2023 at COEX in Seoul in this March file photo. Courtesy of Pohang City Government
By Park Jae-hyuk
By Park Jae-hyuk
InterBattery Europe 2023 failed to attract the number of exhibitors that it had expected, as major domestic battery firms declined to participate in the first rechargeable battery exhibition held overseas by Korean organizers, according to industry officials, Tuesday.
The event's organizers initially expected around 100 institutions to open more than 200 booths during the exhibition to be held from Wednesday to Friday in Munich, Germany.
However, only 73 exhibitors, including eight Chinese firms and an Indian company, decided to participate in the event. In particular, the number of Korean exhibitors ― not counting organizers or public institutions ― stands at just 50.
SK On, one of Korea's three leading electric vehicle battery manufacturers, and the nation's top three battery materials producers ― POSCO Future M, EcoProBM and L&F ― will all be absent from the event.
The four companies, all of which are executive members of the Korea Battery Industry Association, one of the organizers of the forthcoming event, had opened large exhibition pavilions during InterBattery 2023, which was held in Seoul in March.
“We disclosed our latest technologies during the Consumer Electronics Show in Las Vegas in January and InterBattery 2023 in Seoul in March, so we decided not to participate in the forthcoming event,” an SK On official said.
POSCO Future M said it is difficult for the company to participate in all kinds of exhibitions.
“As we participated in a battery show held in Europe between May 23 and May 25, we decided not to participate in the upcoming exhibition,” its official said.
LG Energy Solution and Samsung SDI, both of which are major players in the global battery market, will participate in InterBattery Europe, but the two companies have close ties with the association. LGES CEO Kwon Young-soo is its incumbent chairman, succeeding Samsung SDI Vice Chairman Jun Young-hyun.
LS Electric, another conglomerate joining the exhibition, will not only participate in InterBattery Europe, but also in the Electrical Energy Storage Europe 2023 event, which will be held in the same venue.
Amid the absence of major battery firms, Korean municipalities will participate in the exhibition instead.
North Gyeongsang, North Jeolla and North Chungcheong provinces, all of which have cities vying to be chosen by the central government next month to house an industrial complex specializing in the rechargeable battery industry, sent delegations to Germany to promote their cities to foreign businesspeople.
As a result, speculation is growing that InterBattery Europe could be the venue for political battles, instead of the venue for competition among businesses.