Korea's battery rebound yet to reach suppliers: KBIA chief

What happened: Korea Battery Industry Association chairman Eom Ki-cheon said global EV projects began restarting late last year, raising hopes of a gradual rebound across the battery supply chain, though the recovery has yet to fully reach battery materials suppliers. Key numbers: Why it matters: Major Korean battery makers LG Energy Solution, Samsung SDI and SK On are seeing improving profitability, helped by energy storage demand from AI data centers, but Eom warned that a proposed domestic production tax credit may offer limited relief to smaller suppliers without taxable profits.

Korea Battery Industry Association chairman Eom Ki-cheon said global EV projects began restarting late last year, raising hopes of a gradual rebound across the battery supply chain, though the recovery has yet to fully reach battery materials suppliers.

Major Korean battery makers LG Energy Solution, Samsung SDI and SK On are seeing improving profitability, helped by energy storage demand from AI data centers, but Eom warned that a proposed domestic production tax credit may offer limited relief to smaller suppliers without taxable profits.