Treasury Buyback Fails to Cool Long-Term Yields 
Ares Names James Garforth Principal for Asia Direct Lending 
Gold Prices Steady as Oil Disruptions Boost Fed Rate Hike Bets 
Samsung, SK Hynix Reject KEPCO’s $18.7 Billion Power Funding Plan 
Enflame Shares Surge 200% in Shanghai AI Chip Debut 
Z.AI Shares Slide 7% After $5 Billion Fundraising 
Cathie Wood Backs AI Slowdown as Safety Concerns Grow 
Finland Raises 2026 Growth Forecast as Exports and Investment Surge 
Dollar Rises as Fed Hike Bets Weigh on Asian Currencies 
OpenAI Weighs AI Development Slowdown Over Safety Risks 
Houthis Escalate Saudi Attacks as Red Sea Oil Risks Grow 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
Volkswagen Job Cuts Put Lower Saxony Leader Under Political Pressure 
Boeing, SPEEA Reach Tentative Four-Year Labor Deal 
China Home Prices Fall Again as Property Slump Drags on Growth 
UK Businesses Urge Government to Cut Electricity Levies 
US Futures Fall as Fed Meeting, Oil Surge Rattle Markets 
Add as a preferred source on Google
South Korea's battery makers and related firms will receive up to a 50 percent tax discount for R&D spending and 20 percent tax cuts on facility investment under the Ministry of Trade, Industry, and Energy's K-battery blueprint.
The ministry aims to nearly triple battery exports from $7.5 billion in 2020 to $20 billion by 2030.
The nation's three battery makers, LG Energy Solution Ltd., Samsung SDI Co., and SK Innovation Co., vowed to invest a combined 40 trillion won over the next decade.
The trio accounted for a third of the global EV battery market last year.
However, calls for broader support for South Korea's battery trio have risen as the US, Europe, and China step up efforts to secure the manufacturing base, battery technology, and supply chains of the rapidly growing EV battery market.
The ministry will also collaborate with the battery makers and related agencies to develop next-generation batteries with enhanced safety, energy efficiency, and range.
While lithium-ion batteries currently dominate the EV battery market, the country will seek the commercialization of the solid-state battery, which is considered a safer and more energy-efficient option for EVs, by 2027.
The country plans to develop a lighter lithium-sulfur battery for drones and aircraft by 2025.
South Korea vowed to cooperate with the private sector in R&D projects to enhance lithium-ion batteries' capacity and safety by improving the chemistry mix and cell structure.
A "next-generation battery park" is set to rise in 2026 to facilitate local firms' research and test efforts.
Local companies would also receive assistance in securing key resources for batteries and exploring ways to reuse materials from spent batteries.
