INTIEAKorea · Additional Support Measures to Encourage Exports: BatteriesPolicyIn force

Additional Support Measures to Encourage Exports: Batteries

In September 2023, the Korean government's Emergency Economic Ministers Committee (led by the Ministry of Economy and Finance) announced Additional Support Measures to Encourage Exports, a portfolio of policy measures aimed at boosting export competitiveness through a…

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Country / jurisdiction: Korea · Year: 2023 · Status: In force · Level: National · Type: Voluntary

In September 2023, the Korean government's Emergency Economic Ministers Committee (led by the Ministry of Economy and Finance) announced Additional Support Measures to Encourage Exports, a portfolio of policy measures aimed at boosting export competitiveness through a combination of deregulatory measures, financing support, and government grants.

Measures include both general support that apply to a wide range of industries; and specific funding measures aimed at key strategic industries (including energy, semiconductor, and battery manufacturing industries).

Specific funding measures for batteries include:

R&D funding for lithium iron phosphate battery and sodium battery technology (KRW 2.6 billion; 2024 -)

Establishment of a "battery park" for R&D and demonstration purposes (KRW 34 billion; 2022-2026)

Official source: https://www.korea.kr/briefing/pressReleaseView.do?newsId=156588220

Source

https://www.iea.org/policies/19056

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