The Small and Medium Business Administration announced on June 24 that it has signed a memorandum of understanding (MOU) with LG Energy Solution to strengthen the K-battery ecosystem. The signing ceremony took place the previous day at LG Energy Solution's Daejeon Technology Center.
This MOU follows a collaborative initiative launched last month focused on non-partner companies as part of the 'K-Battery Open Innovation' program. The partnership expands support to include partner companies, establishing a 'public-private cooperation model for large and small business coexistence,' according to the Small and Medium Business Administration.
Under the agreement, a value chain stabilization track will be implemented to ensure supply chain stability for existing partners. The administration will support stable financing based on its policy funds and connect with carbon neutrality support programs (MRV) to respond to the European Union's Carbon Border Adjustment Mechanism (CBAM).
The K-Battery Open Innovation initiative will also provide joint technology verification (PoC) and follow-up investment opportunities for innovative technologies developed by startups.
Kim Je-young, Chief Technology Officer of LG Energy Solution, stated, "This agreement will allow us to expand collaboration with promising domestic companies and accelerate growth, contributing to the competitiveness of the K-battery industry."
Ban Jeong-sik, Director of Regional Innovation at the Small and Medium Business Administration, remarked, "We will spare no effort to support this as a model of successful public-private collaboration, providing large companies with opportunities to secure future innovative technologies and offering small and medium enterprises a ladder to leap onto the global stage."
* This article has been translated by AI.
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