The Korea Battery Industry Association (KBIA) has postponed the designation of a “Battery Day” in light of the COVID-19 pandemic.
The lawsuits over technology leak between LG Chem and SK Innovation was also a cause of the enactment that was initially slated to happen within the year.
Display Day event is held every year on the first Monday of October. Semiconductor Day is held on Thursday of the fourth week of October every year. This was also the likely cause to setting a Battery Day near the end of year, people familiar with the matter said.
The postponement will disappoint many in the South Korean industry and academia as such days have acted to boost morale in their particular field.
Industry changing achievements are shared and given award by related associations on such days.
The Ministry of Trade, Industry and Energy has added battery in the strategic export category in which the progress is reported directly to the minister since January last year.
According to KITA, battery export has risen 12.8% on average every year since 2014. Export in 2019 marked US$4.683 billion.
Battery Day will now likely be designated in 2021. Next year will mark the tenth anniversary of KBIA. LG Chem, SK Innovation and Samsung SDI are expected to announce expansions of their factories next year as well to meet rise in demand.
China’s push in batteries, talent leak, localizing key material production and other current issues remain for the South Korean battery industry, a person familiar with the matter said, and such commemorative days is a must to react to these issues.