Announcement
07 Apr 2023
In April 2023, the Korean Ministry of Trade, Industry, and Energy (MOTIE) announced the “Post-IRA Public-Private Joint Strategy for Battery Industry Development,” a strategy in response to the United States Inflation Reduction Act (IRA). Under the strategy, support is provided for Korean battery manufacturers and material suppliers to enter overseas markets.
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
07 Apr 2023
Revocation date:
30 Apr 2028
Updated: 07 Apr 2023
Financial assistance in foreign market
In force
On 7 April 2023, the Korean Ministry of Trade, Industry, and Energy (MOTIE) announced the allocation of funding worth KRW 7 trillion (USD 5.3 billion) to support Korean battery firms' and material ...
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Implementation date
07 Apr 2023
Revocation date:
No revocation date
Updated: 07 Apr 2023
Financial assistance in foreign market
In force
On 7 April 2023, the Korean Ministry of Trade, Industry, and Energy (MOTIE) announced providing KRW 50 billion (USD 37.9 million) to support producers of lithium iron phosphate (LFP) batteries in e...
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