(SK On) SEOUL – After years of a high-pricing, premium strategy, South Korea’s top three battery makers — LG Energy Solution, Samsung SDI and SK On — are increasingly turning their eyes to low-priced batteries in an apparent move to prevent ceding more market share to their fast-growing Chinese rivals in the soaring global electric vehicle market.
Following years of isolationism and economic under-achievement, North Korea languishes near the bottom of the world’s telecom maturity index alongside Afghanistan and Turkmenistan (who also happen to be struggling under repressive political regimes).
“High-manganese batteries have higher energy density than LFP batteries but are less costly and more stable than NCM batteries,” said a Samsung official.
Foreign investors have been permitted to partner with the North Korea Post & Telecommunications Corporation (NKPTC) to progress mobile voice, text, and broadband services, albeit on a strictly limited scale and with tight restrictions over what can be accessed.
North Korea has been slightly more effective in building an IT sector and a nascent digital economy on the back of a concerted effort to grow a sizeable, well-trained IT workforce. But even here, its capabilities have been directed more towards nefarious activities such as cybercrime and hacking into Western countries’ computer systems.
Currently, LFP batteries are priced about 20 to 30 percent cheaper than NCM batteries. Yoon, on the other hand, said it may be too late to catch up with Chinese rivals. “China has already widened the gap with Korea, fueled by its advanced technology as well as control over the raw materials and low labor costs,” he said.
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