South Korea’s battery industry imports almost all of its lithium hydroxide, which is used to make battery cathodes, from China. Last year, South Korea’s battery industry spent $3.23 billion (about 4.3 trillion won) to import lithium hydroxide from China.
Meanwhile, the Korean company “Terra Science” announced that it has discovered the first lithium salt lake in Korea and requested seawater analysis from a specialized laboratory and an authorized organization in the field of geology, and the analysis results showed that the lithium content was 100 times higher than that of ordinary seawater.
The land on Aphaedo Island of Sinan-gun secured by Terra Science is the first lithium-rich salt lake in South Korea. In late May, the company hired a lithium salt lake expert, Bong-chan Ban, and is in the process of recruiting employees.
In addition, Terra Science has established a subsidiary, “Sinan Lithium”, and is preparing for mass production of lithium in Aphaedo Island.
Experts in the field emphasized that the Korean government’s supportive policies are necessary for companies that are actually doing business and contributing to lithium self-sufficiency and the battery industry.