DAEJEON < invest Korea

According to Yonhap News,

Small and medium-sized battery companies based in Daejeon have secured footholds for participation in next-generation aircraft development projects and secondary battery equipment installation projects.

According to Daejeon Technopark (Daejeon TP) on May 12, Daejeon companies participating in the 'Interbattery Europe 2025' event, held in Munich, Germany on May 7-9, were invited to join key overseas projects and achieved a contract negotiation amount of USD 300.5 million (approximately KRW 42.7 billion).

This event, held concurrently with 'The Smarter E Europe,' the largest energy exhibition in Europe, is a leading energy industry exhibition in Europe. This year, 93 battery companies across 9 countries participated.

Three innovative technology companies from Daejeon, including Mintech (lithium-ion battery), UBATT (battery manufacturing), and Hubis (laser welding)—participated.

Mintech received a proposal to supply equipment worth USD 143 million (KRW 20 billion) for a North American battery equipment project from European supplier A. UBATT concluded discussions on participating in a next-generation aircraft development project bidding with global defense company B with signing a Non-Disclosure Agreement (NDA), securing a foothold for entry into the overseas defense market.

Daejeon TP has also agreed to promote Memorandums of Understanding (MOUs) with European organizations, such as the Battery Cluster (CBC) of the Chez Republic and the New Mobility Association (PSNM) of Poland, to support the entry of regional companies into the European market and foster collaboration with European companies.

The Director of Daejeon TP stated, "As Daejeon battery companies' global technological capabilities have been recognized both domestically and internationally, we plan to expand entry into the European market by identifying various programs to expand in countries such as Gernany, the Chez Republic, and Poland."

kjunho@yna.co.kr

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Source: Yonhap News, (May 12, 2025)