Post-Use Battery Industry Expected to Expand to KRW 236 Trillion by 2040
Introduction of successful and commercialized battery business cases and policy trends after use

With the number of electric vehicle batteries reaching the end of their lifespan expected to increase explosively from 2025, the Industrial Education Research Institute (hereinafter referred to as the Industrial Education Research Institute) is sharing insights on the direction through a seminar on used battery technology.

The Korea Electric Power Corporation (KEPCO) announced on the 5th that it will hold the '2024 Electric Vehicle Post-Use Battery Technology, Market Issues and Prospects and Business Strategy Seminar' both online and offline on the 26th.

The used battery industry is expected to expand to approximately KRW 236 trillion by 2040, as it is considered a future new industry that can contribute to stabilizing the supply chain of key battery minerals.

The Korea Electric Power Corporation (KEPCO) said, “With the large-scale used battery market expected to grow significantly between 2025 and 2027, major countries including China, the U.S., and Europe, as well as domestic companies, are actively reorganizing their systems and investing in the industry.” It added, “This seminar will be an event to forecast the overall trends and research and technology development directions for electric vehicle used batteries in 2024, as well as future industry trends, and to share success stories and commercialization cases.”

In this seminar, the Korea Electric Vehicle Industry Association, Korea Institute of Energy Research, Jeju Techno Park, etc. will be presenting as speakers and will discuss the distribution and solutions of used electric vehicle batteries and policy directions for a complete circulation system.It will cover key topics of related industries, such as the current status and development direction of research and technology development on remanufacturing/reuse/recycling of used electric vehicle batteries in 2024.

Additionally, you can hear about Savitchem's recycling technology development and business strategy, and about domestic policies and trends related to the circular economy from the Resource Circulation and Social Economy Research Institute.

The topics of the seminar that day are: △Distribution of used batteries from electric vehicles and challenges to be solved △Policy direction for a complete cycle system (Closed Loop) from domestic electric vehicle battery production-use-recovery-production by 2024 △Current status and development direction of research and technology development for remanufacturing/reuse/recycling of used electric vehicle batteries by 2024 △Direction for promoting the ecosystem of the used electric vehicle battery industry by 2024 △Current status of Saebitchem's actual used battery business △Trends and expected effects of eco-friendly dry new process technology development for recycling positive electrode materials from used electric vehicle batteries, etc.

For more detailed information, please visit the Industrial Education Research Institute website.