S.Korea, Indonesia to strengthen battery materials supply chain

South Korea and Indonesia plan to strengthen the collaboration to establish an electric vehicle (EV) battery ecosystem, capitalizing on Indonesia's status as the world's leading nickel producer.

The Korea Battery Industry Association (KBIA) announced on Thursday that it held a meeting to discuss co-working for the EV battery raw materials supply chain at Lotte Signiel Seoul, South Korea.

Attendees included Yang Byung-nae, Deputy Minister of Trade, Industry and Energy, and Septian Hario Seto, a deputy at the Coordinating Ministry for Maritime Affairs and Investment.

Deputy Minister Yang expressed hope for the Indonesian government's active support and attention, encouraging more investment from Korean automobile and battery companies in Indonesia.

This investment would leverage Indonesia's abundant key mineral resources, such as nickel, benefiting both countries.

South Korean companies expect cooperation with Indonesia to reduce reliance on Chinese raw materials.

Key players from the EV and battery sectors in South Korea, such as Hyundai Motor Co., LX International Corp., Korea Zinc Inc., and SK Ecoplant, participated in the meeting.

These companies have either already invested or are planning investments in Indonesia to secure a stable supply chain for EV battery raw materials. 

Write to Nan-Sae Bin at binthere@hankyung.com