LG, Samsung, SK boast longer, safer battery technologies at InterBattery
Models pose with LG Energy Solution's batteries during the InterBattery exhibition at COEX in southern Seoul, Thursday. Courtesy of LG Energy Solution
By Baek Byung-yeul
LG Energy Solution, Samsung SDI, SK On and other Korean battery companies gathered, Thursday, to show off their latest battery technologies for electric vehicles (EVs) and energy storage systems at the InterBattery exhibition.
Given the big three battery firms ― LG, Samsung and SK ― account for over 30 percent of the global battery cell market, not only Korean battery companies but also overseas companies participated in the exhibition to get their own piece of the promising battery technology industry.
InterBattery is Korea's only exhibition dealing with the rechargeable battery industry. Hosted by the Ministry of Trade, Industry and Energy, the annual event features 270 battery-related companies from here and abroad for three days from Thursday to Saturday at COEX in southern Seoul.
On the sideline of the event, xEV Trend Korea, an exhibition showcasing various EVs, also takes place right next to the InterBattery venue, featuring Hyundai Motor, Kia and other EV makers.
LG Energy Solution exhibited a variety of battery-equipped products such as EVs, energy storage devices, electric bicycles and electric tools under the theme of “consumers' future daily life created by batteries.”
The company also displayed next-generation batteries such as a lightweight lithium-sulfur battery with high energy density and a solid-state battery.
BMW's electric SUV is displayed at Samsung SDI's booth during the InterBattery exhibition at COEX in southern Seoul, Thursday. Korea Times photo by Baek Byung-yeul
Samsung SDI focused on promoting the company's future battery technologies, unveiling its battery brand PRiMX to the public for the first time. In particular, the company gained attention by displaying its Gen 5 batteries equipped in BMW's EVs and a technology development roadmap for its next-generation Gen 6 battery as well as cobalt-free battery technology.
SK On introduced battery technologies that can greatly reduce the risk of fire. It showcased its S-Pack safety technology that blocks heat to prevent a fire that breaks out in a battery cell from spreading to the entire battery pack.
Visitors to SK On's booth watch Ferrari's plug-in hybrid car that uses the former's battery during the InterBattery exhibition at COEX in southern Seoul, Thursday. Korea Times photo by Baek Byung-yeul
What attracted visitors to SK On's booth was Ferrari's plug-in hybrid vehicle equipped with the company's battery cells. It exhibited EVs from various partners such as Ferrari and Mercedes-Benz to emphasize its wide range of cooperative relationships.
An official from a local battery company said the exhibition shows the high growth potential of the Korean battery industry to expand into the global market.
“Basically Korean companies don't do business only looking at the Korean market. They target markets all around the world. In particular, since Europe and the U.S. markets have high growth potential, this exhibition is a good opportunity to tout how well Korean companies are doing in overseas markets,” the official said on condition of anonymity.
Industry Minister Moon Sung-wook, second from right, poses with SK On CEO Jee Dong-seob, left, Samsung SDI Vice Chairman Jun Young-hyun, second from left, and Samsung SDI CEO Choi Yoon-ho at COEX in southern Seoul, Thursday. Yonhap
Heads of the big three battery companies accompanied Industry Minister Moon Sung-wook and visited each company's booth. They also requested the government's support to create an ecosystem for the battery industry.
"I think it is important for the government to pay attention to foster the battery ecosystem well," SK On CEO Jee Dong-seob said. "The stability of the supply of raw materials along with the development of the battery ecosystem is important."
LG Energy Solution President Lee Bang-soo elaborated on how his company has worked to secure a stable supply of battery raw materials, saying the price surge in raw materials caused by Russia's invasion of Ukraine is an issue that companies cannot handle by themselves.
“We are focusing on securing a stable supply and price competitiveness through long-term supply contracts with major raw material companies, minority equity investments and establishment of joint ventures,” he said.
The industry minister told reporters, “The government is trying to secure the overseas supply chains that the industry needs.” He added that “the government will listen to the industry today and see if there is anything else we need.”
Material, equipment makers also set to leap forward
Joining the major battery cell makers were battery cell equipment and material companies that also took part in the exhibition promoting their technologies.
Onejoon, which provides heat treatment equipment for the production of battery materials, was one of the domestic battery material and equipment companies to join the event.
“Not only prominent battery cell makers, but also there are many battery material and equipment makers in Korea. We work with battery material companies such as POSCO Chemical and the business outlook is very good as EV batteries grow significantly every year in the European and U.S. markets,” a spokesman of Onejoon said.