JEJU-DO < invest Korea

According to Yonhap News,

Jeju Special Self-Governing Province said on May 12 that the municipal authorities have been chosen as the best possible candidate to form a test assessment and accreditation facility to simulate the second-life of used EV batteries, designed by the Ministry of Trade, Industry and Energy. Further specifically, the project aims to facilitate a testing and inspection system to help businesses developing battery recycling technology assess their applications’ performance over the next three years from 2022 to 2024 with KRW 8.6 billion budgets allocated.

In fact, the industry practice allows batter producers to store the dead batteries in an authorized place to dispose of, until the relevant legislative framework stipulating law enforcement on battery recycling or reuse is enacted. Currently, the EV boom is leaving battery makers and drivers with a big waste, containing hazardous chemicals such as lithium or nickel that are hard to be buried on the ground.

Facing such challenge, the province has rolled up their sleeves to provide a one-stop solution that covers the entire life cycle of used batteries from collection, storage and recycling and to come up with battery reuse ideas keeping in line with the Jeju Green New Deal policies. The provincial government said the municipality is set to speed up the battery recycling process by laying out a support plan to help product testing and inspection so as to make a wide variety of technologies be commercially valid in the market.

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Source: Yonhap News (May 12, 2021)