South Korean battery makers' combined research and development investment this year has climbed over 12 percent on-year despite a slowdown in global demand for electrified vehicles, industry data showed Sunday.

According to latest quarterly reports of LG Energy Solution Ltd., Samsung SDI Co. and SK On Co., their combined R&D investment during the January-September period amounted to 1.78 trillion won ($1.38 billion), up 12.5 percent from 1.58 trillion won for the same period of last year.

Of the three companies, Samsung SDI was the biggest R&D investor, with cumulative expenses up 6.7 percent to 836.4 billion won during the first nine months of 2023.

LG Energy Solution spent 730 billion won on R&D this year, marking a 15.2 percent increase compared to the same period last year. SK On's spending jumped 29.6 percent on-year to 220.7 billion won.

Local battery companies are focusing on strengthening R&D efforts, with a particular emphasis on developing high-capacity, high-safety and long-lasting batteries, as well as enhancing the development of price-competitive lithium iron phosphate and cobalt-free batteries. (Yonhap)

• ·Hotel chief fined for safety violation in Itaewon tragedy trial
• ·[Herald Review] ‘Zzz’ lulls audience to sleep through onstage performance
• ·SK chief calls on board members to help CEOs make balanced decisions
• ·Sombre palaces, tombs swathed in fall colors
• ·Trilateral cooperation unaffected by US election outcomes: Goldberg
• ·Halloween weekend sees 65 police calls
• ·Sombre palaces, tombs swathed in fall colors
• ·北 오죽 돈 없으면…유럽서도 방 뺀다, 주스페인 대사관 폐쇄
• ·Volvo EX30 debuts in Korea
• ·[Korea Beyond Korea] From history and K
• ·협치 첫 단추 ‘현수막 난립방지법’ 소위 통과
• ·‘홍범도·양평고속도로’ 야당 쓴소리에 윤 대통령 주로 경청
• ·Korea to showcase advanced climate technologies at COP28 Dubai
• ·SK chief calls on board members to help CEOs make balanced decisions
• ·[Today’s K
• ·In early 2029, Earth will likely breach key warming threshold: scientists