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14 Dec
07:57

South Korea to invest KRW 38 trillion to strengthen EV battery industry

South Korea’s government plans to provide over KRW 38 trillion ($29 billion) as policy financing to strengthen the country’s EV battery supply chain in the five years from 2024, Kallanish reports. According to the South Korean Ministry of Economy and Finance (MoEF), the main idea of the scheme is to diversify the EV battery supply chain to reduce reliance, especially in terms of key materials, on other countries, including its big competitor China. Thi…
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