LG Energy Solution and Small and Medium Business Administration Strengthen Domestic Battery Industry

LG Energy Solution officials pose with the signed agreement during the 'K-Battery Ecosystem Strengthening MOU' ceremony at the Daejeon Technology Research Institute. [Photo=LG Energy Solution]

LG Energy Solution is collaborating with the Small and Medium Business Administration (SMBA) to enhance the competitiveness of the domestic battery industry ecosystem.
On June 24, LG Energy Solution signed a memorandum of understanding (MOU) with the SMBA at its Daejeon Technology Research Institute in Yuseong-gu, Daejeon.
This agreement follows the 'K-Battery Open Innovation' program jointly launched by the two organizations in May. The aim is to strengthen the overall competitiveness of the battery industry ecosystem and expand cooperation between large and small businesses.
Through this MOU, the two organizations will focus on several initiatives, including identifying and nurturing prominent small and medium-sized enterprises in the battery sector, collaborating on the operation of the open innovation program, supporting the competitiveness of partner companies, and discovering joint projects to invigorate the battery industry ecosystem.
Additionally, LG Energy Solution plans to enhance corporate competitiveness by linking various growth support programs from the SMBA to its supply chain partners and will continue discussions on various collaboration strategies to establish a sustainable supply chain.
Kim Je-young, Chief Technology Officer of LG Energy Solution, stated, "Sustainable growth in the battery industry begins with a healthy ecosystem where large corporations and small and medium enterprises grow together. Through this agreement, we will further expand our collaboration with promising domestic companies and accelerate growth to enhance the competitiveness of the K-Battery industry."
Ban Jeong-sik, Director of Regional Innovation at the SMBA, emphasized, "The infrastructure and support systems of the SMBA, which has achieved the highest rating in public institution growth evaluations for four consecutive years, will create strong synergies with LG Energy Solution's global value chain. We will provide large companies with opportunities to secure future innovative technologies and offer small and medium enterprises a practical ladder to leap onto the global stage, ensuring this becomes a model of successful public-private collaboration."
Meanwhile, LG Energy Solution announced last month that it has surpassed approximately 59,000 registered global patents and over 100,000 applications, stating, "We will continue to accelerate future growth based on our core technologies and premium patents."

* This article has been translated by AI.