JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News) Korea's first electric vehicle (EV) scrap battery reuse center will be built in Jeju.

On July 3, Jeju Province announced it will hold a ground breaking ceremony for the center in Jeju City's Jeju Technopark Digital Convergence Center.

The construction project was selected by the Korea Institute for Advancement of Technology (KIAT) and will receive a total of KRW 18.93 billion (KRW 8.575 billion in national expenditure, KRW 9.85 billion in provincial expenditure and KRW 50 million in private funding).

The 3-story center will be built on a 2,458㎡ plot of land and will be home to evaluation and research facilities.

The Korea Battery Industry Association will establish and verify standards for reusable battery application and establish internal standards. The Korea Automotive Technology Institute will establish evaluation verification standards such as the aging measurement procedure for battery life prediction.

In the second half of this year, the province will also select private companies to take part in the substantiation of household and industrial energy storage equipment.

Jeju plans to finish building the center by December of this year, gather all the necessary personnel and equipment by December 2019 and officially operate the center in 2020.

Upon completion, the province will be able to secure infrastructure and technology related to EV batteries as well as a resource circulation system to reconstruct dead EV batteries according to their capacity and condition and reuse it as an energy storage device.

Jeju province, Jeju Technopark and others involved in the project will take part in the groundbreaking ceremony on July 5.

khc@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (July 03, 2018)