In this rapidly developing sector, South Korea has gained an advantage over China and Japan due to early and rapid investments in Eastern Europe. However, South Korean EV battery manufacturers still must race for dominance, competing not only with China and Japan but also Europe. As the European Union plans to support development of its own EV battery sector and regulate it with eco-friendly policies, South Korea must pay close attention to its new possible rival. On the other hand, this global race to dominate EV production is an opportunity for South Korea to further develop its economy and create a new generation of batteries in accordance with EU regulations. Please download the CAA Brief here.
