The government does not believe that the status of South Korean battery makers will be impacted by a new European Union(EU) law aimed at making batteries more sustainable.
The Ministry of Trade, Industry and Energy said on Thursday that the legislation, which affects the design, production and waste management of all types of batteries sold in the EU, has no discriminatory clause against a particular country or firm.
The new rules include a carbon footprint scale to measure emission levels throughout the life cycle of a battery, a minimum requirement for recycled cobalt, lithium, nickel, and lead, and an electronic record of battery production and usage.
Seoul plans to begin efforts to reduce emissions by generating related statistics prior to the enforcement of carbon footprint rules under the law, while also setting up and developing battery recycling supply chains to meet the mandate on recycled raw materials.
The ministry expects the domestic battery sector to have enough time to prepare supply chains to meet the global eco-friendly standard, as enforcement ordinances under the law will be enacted between 2024 and 2028.
Officials said they will continue to closely consult with local businesses to ensure that the new law has no adverse impact on their operations in the EU.