“Used batteries are no longer waste. “It is time to kill two birds with one stone: resource security and industrial competitiveness through a recycling strategy.”

The Korea Economic Association (KECA) recently emphasized the need for a Korean strategy to utilize waste batteries as an ‘urban mining resource’ through the ‘New Industry Proposal Series ⑦ - Waste Batteries’ report published by KECA.

As the number of domestic electric vehicle waste batteries that will be discharged in earnest starting in 2030 is expected to exceed 100,000, internalizing resources and strengthening industrial competitiveness through battery recycling are emerging as national strategic tasks.

Electric vehicle batteries have an average lifespan of 8 to 15 years.

Accordingly, it is expected that the amount of waste batteries emitted by electric vehicles commercialized since 2013 will increase rapidly starting around 2030.

The Korea Economic Research Institute estimates that more than 100,000 waste batteries will be produced in Korea by 2030.

In the global market, the amount of waste batteries discharged is expected to reach 170,000 units in 2023 and 42.27 million units in 2040.

The recycling market size is expected to grow at an average annual rate of 17% from $10.8 billion in 2023 to $208.9 billion in 2040.


Korea is in a situation where its financial and institutional support is inadequate compared to major countries.

The total budget for the recycling system construction project promoted by the Korea Environment Corporation in 2024 is only 1.5 billion won, and it is being evaluated as limited in supporting early market entry by the private sector.

Accordingly, the Korea Economic Research Institute presented three major policy tasks: △Expanding public purchases of reused and recycled batteries, △Establishing a dedicated HS code, and △Reorganizing systems related to used batteries.

Expanding public procurement support requires certification of recycled battery products and increasing the mandatory purchase ratio for public institutions to secure stable sales channels for companies.

Regarding the reorganization of the customs clearance system through the establishment of a new HS code, waste batteries and recycled materials (BM) are currently integrated into the general electronic waste code, making it difficult to manage exports and imports. Therefore, it is possible to lead international standards by establishing a dedicated code and simplifying import procedures.

In relation to the promotion of the bill to foster the used battery industry, an integrated information management system and a public transaction system are expected to be introduced through bills pending in the National Assembly. However, it is urgent to secure consistency in standards, such as the issue of waste classification of BM for ESS.

Lithium, cobalt, nickel, and graphite used in electric vehicle batteries are mostly dependent on overseas production and refining. This is a factor that deepens supply and demand uncertainty due to the US-China hegemony competition and geopolitical risks.

Lee Sang-ho, head of the Economic and Industrial Headquarters of the Korea Economic Council, said, “Recycling waste batteries is not just a simple environmental policy; it is a strategic means to achieve the establishment of a battery circulation ecosystem, securing resource security, and discovering new growth engines.” He emphasized, “The government must secure the competitive edge of the domestic battery industry through bolder financial and institutional responses.”