On November 26, Yeo Han-gu, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy, attended a meeting hosted by the Korea Battery Industry Association regarding battery companies’ entry into the EU market. The meeting was held to assess the current state of our battery industry’s exports to the EU and to discuss solutions to the challenges faced in entering the market.
The EU constitutes approximately 15% (1.25 billion USD in 2024) of our country’s secondary battery exports, marking it as a significant market. Major domestic battery companies have expanded their market presence by establishing production bases in European countries such as Poland and Hungary.
However, new regulations such as the forthcoming EU Battery Regulation and other environmental and supply chain regulations are expected to be applied sequentially. There are concerns within the industry that these stricter regulations could become cumbersome amidst the slowing demand for electric vehicles and uncertainties regarding raw material supply chains. Companies have particularly pointed out that the lack of clarity on the EU regulations’ detailed application criteria and timeline diminishes business predictability.
In response, Yeo stated, “The advanced materials industry, including secondary batteries and cathode materials, has played a crucial role in the growth of our exports to the EU in recent years.” He emphasized that the Ministry is committed to continuously communicating with the industry to resolve the issues facing battery companies trying to enter the EU market, by strengthening discussions with the EU and member states to improve trade and investment environments.
This meeting was organized with the aim of seeking proactive solutions to the changes in EU regulations and to solidify the cooperation framework between the government and the industry.