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Industry

Battery industry shifts to foundry model with Western design and Asian manufacturing

The battery industry is moving toward a division of labour similar to semiconductors, with Western companies focusing on next-generation chemistry design and intellectual property while Asian manufacturers handle mass production, industry officials say. The shift reflects limits on building and running gigafactories, weaker manufacturing competitiveness in Europe and the United States, and U.S. rules requiring the exclusion of certain China-linked supply chains. A wider range of battery chemistries and growing small-lot demand are also accelerating outsourcing.

Industry

Semiconductor, battery direct refund scheme in focus ahead of July tax reform plan

A proposed direct refund scheme that would pay out semiconductor and battery investment tax credits in cash has emerged as a key issue ahead of the government’s late-July tax reform plan. South Korea largely relies on corporate tax credits that only apply when companies owe tax, limiting benefits for firms in early loss-making years. Industry groups say this can delay investment and call for U.S.-style refunds. Fiscal authorities are reviewing possible revenue losses.

Industry

LG Energy Solution posts Q2 operating profit of 113.3 billion won, down 77 percent year on year

LG Energy Solution said on Tuesday it posted second-quarter revenue of 7.56 trillion won and operating profit of 113.3 billion won. Revenue rose 24.8 percent from a year earlier, while operating profit fell 77 percent. The operating profit includes the effect of U.S. Inflation Reduction Act production subsidies. The company received 241.0 billion won in tax credits in the quarter; excluding them, it would have posted an operating loss of 127.7 billion won.