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Industry

U.S. midterm election nears as Korean battery makers face crossroads over AMPC tax credit defence line

With the Nov. 3 U.S. midterm election approaching, Korean battery makers face renewed political bargaining over tax credits. EV purchase subsidies have already been abolished, while the advanced manufacturing production credit, or AMPC, has been defended at a 25 percent credit through 2032. Companies with large North American bases are reshaping operations to withstand policy shifts, including moving from joint ventures to wholly owned plants and shifting production toward energy storage systems.

Industry

Semiconductor export boom swells Korea budget, setting up September parliamentary clash

South Korea’s government budget for 2027 is set to rise sharply as a semiconductor export boom lifts tax revenue, raising the stakes for a September parliamentary session over how to allocate funds. The plan boosts spending to 820.9 trillion won and lifts revenue to 880.8 trillion won, led by a jump in national tax receipts. Funding for semiconductor and AI initiatives rises, including a new semiconductor special account, while debates centre on tax credits, infrastructure support and an exception to the 52-hour workweek cap.

Industry

Global regulation outpaces plant buildout, speeding up Korean anode materials shift

Korean anode materials makers are accelerating plans to localise synthetic graphite as a U.S. route for Chinese graphite shifts from high tariffs to tax credit eligibility requirements. With capacity expansions and long-term supply contracts largely concentrated in 2027, domestic cell makers have limited options to replace Chinese materials before then. Import prices have fallen, but U.S. 45X rules on prohibited foreign entities tighten from 2026.