Lithium-ion battery export value South Korea 2012-2023

In 2023, around 7.3 billion U.S. dollars' worth of lithium-ion (Li-ion) batteries were exported from South Korea. Leading Li-ion battery makers in South Korea are LG Energy Solution, Samsung SDI, and SK On. The global Li-ion battery market is expected to grow steadily with the popularity of electric vehicles.

International trade of Li-ion batteries from South Korea

Li-ion batteries are another product contributing to South Korea's manufacturing-focused economy. Since 2012, the country has steadily exported more batteries than it has imported, resulting in a consistent trade surplus over the years. Li-ion batteries produced in South Korea are shipped to various countries in Asia and across the globe. The biggest market was the United States by a significant margin.

Batteries are becoming an important product

The rechargeable nature of Li-ion batteries has made them a core component of many modern electronic devices, such as smartphones. It is also just as crucial for electricity-based transport, such as electric vehicles or electric scooters. The rise of eMobility in recent years has played a part in the increasing demand for Li-ion batteries around the world.