The Ministry of Trade, Industry, and Energy convened a meeting on November 16 with key players in the battery industry, including the Battery Association, Samsung SDI, LG Energy Solution, and SK On, to discuss major trade issues.
The United States released provisional guidelines in March for tax credits under the "Inflation Reduction Act," including criteria for environmentally friendly car batteries. The final guidelines are expected to be announced later this year, with plans to continue discussions between the government and U.S. authorities to address remaining issues and ensure smooth tax credit receipt for our companies.
The EU is working on regulations for the Battery Act introduced in August, and the Korean government is assessing the readiness of local companies for new environmental rules related to battery carbon footprint and mandatory use of recycled materials.
China announced export control measures on graphite last month, prompting the South Korean government to initiate emergency meetings, joint public-private supply response meetings, and battery industry discussions to review response strategies.
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