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Industry

Standard Energy introduces VIB ESS technology to EU delegation

Standard Energy said European commercial and embassy officials in South Korea visited its Daejeon site on Sept. 9 as part of an innovation partnership event hosted by the Innopolis Foundation. About 20 participants from the EU delegation and the French and German embassies toured a VIB ESS demonstration site at KAIST Munji Campus and the company’s automated production line. The visit focused on VIB’s safety features, high output and commercialization progress.

Industry

U.S. tightens security lock on ESS; Korean battery makers with North American plants eye order rally

The U.S. government has designated battery energy storage systems as equipment tied to national security, raising expectations that Korean battery makers with U.S. production bases will win more North American ESS orders in the second half. LG Energy Solution expects new ESS orders of 70 GWh in the second half, while SK On has secured a deal to supply 9 GWh over five years. Samsung SDI is converting EV production lines to ESS.

Industry

Government to set up future response fund based on 162.3 trillion won in extra tax revenue, double megaproject budget

South Korea’s government plans to create and set aside a 162.3 trillion won future response fund in its 2027 budget, allocating 45.4 trillion won to four areas: youth, growth engines, regions and education and talent. Spending for “three megaprojects plus AI” covering semiconductors, physical AI and AI data centres rises 97.2 percent to 21.3 trillion won. Total 2027 spending is set at 820.9 trillion won, up 12.8 percent.