Kim Je-young (left), Chief Technology Officer of LG Energy Solution, and Ban Jeong-sik, Director of Regional Innovation at the Korea SMEs and Startups Agency, pose for a photo after signing a memorandum of understanding (MOU) to strengthen the K-battery ecosystem at LG Energy Solution’s Technology Research Institute in Yuseong-gu, Daejeon, on the 24th. Photo courtesy of LG Energy Solution
LG Energy Solution (373220.KS) is joining forces with the Korea SMEs and Startups Agency (KOSME) to strengthen the competitiveness of Korea’s battery industry ecosystem.
LG Energy Solution said Tuesday it signed a “memorandum of understanding to strengthen the K-battery ecosystem” with KOSME at its LG Energy Solution Daejeon Institute of Technology in Yuseong-gu, Daejeon.
The agreement is a follow-up to the “K-Battery Open Innovation” program the two organizations jointly launched in May. It aims to strengthen competitiveness across the battery industry ecosystem and expand cooperation between large corporations and small and medium-sized enterprises (SMEs).
Through the agreement, the two organizations agreed to cooperate on identifying and nurturing promising battery industry SMEs and startups, jointly operating the open innovation program, supporting partner companies’ competitiveness, and finding joint projects to invigorate the battery industry ecosystem.
“The sustainable growth of the battery industry begins with a healthy industrial ecosystem in which large corporations and SMEs and startups grow together,” said Kim Je-young, Chief Technology Officer (CTO) and Executive Vice President of LG Energy Solution. “Building on this agreement, we will further expand cooperation with promising domestic companies and accelerate their growth to contribute to strengthening the competitiveness of the K-battery industry.”