Korean biz tycoons discuss battery, solar cooperation with US senator
SK Group Chairman Chey Tae-won, left, shakes hands with U.S. Senator Jon Ossoff (D-GA) during their meeting at SK's headquarters in central Seoul in this Nov. 9, 2021 file photo. Courtesy of SK Group
Business leaders of top Korean conglomerates, including SK and Hanwha, have met with visiting U.S. Sen. Jon Ossoff of Georgia and discussed investment and cooperation in areas that included secondary batteries, battery equipment and solar panels, according to industry sources and the senator's office Thursday.
SK Group Chairman Chey Tae-won met with Ossoff at the SK headquarters in Seoul the previous day and discussed SK's investment in Georgia.
The meeting also touched on the requirements for electric vehicle battery cells and battery materials to qualify for U.S. tax credits under the newly enacted Inflation Reduction Act (IRA).
SK's battery-making unit, SK On, runs two manufacturing facilities in Georgia mainly to supply Ford Motor.
SK On announced last November a partnership with Hyundai Motor Group, Korea's top automaker, for cooperation on battery supplies in Georgia, with speculation growing over the possibility of a joint venture in the southeastern U.S. state.
Ossoff also met with Hanwha Group Vice Chairman Kim Dong-kwan on Tuesday for discussions on business cooperation.
Hanwha Solutions, the solar panel unit of Hanwha, unveiled in January a $2.5 billion investment plan to build a massive solar panel production complex in Georgia.
Kim, the de facto heir to the seventh-largest Korean conglomerate, is a co-head of Hanwha Solutions.
Ossoff, who started a four-day visit to Seoul on Tuesday, also met with Samsung Electronics Chief Financial Officer Park Hark-kyu. Ossoff was expected to have similar meetings with the top executives of Hyundai Motor Group and LG. (Yonhap)