South Korea announces $15 billion investment in advanced battery technologies

FILE PHOTO: An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. Picture taken November 23, 2021. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies including solid-state batteries, the industry ministry said on Thursday.

"The joint investment will allow South Korea to start commercial production of solid state batteries ahead of others," the ministry said in a statement.