SEOUL: South Korea's Ministry of Trade, Industry and Energy disclosed on Tuesday that it has raised concerns with China regarding its recent export restrictions on graphite.
According to Yonhap News Agency, International Trade Relations Director General Kim Jong-cheol communicated these concerns during the Pan-Yellow Sea Rim Economy and Technology Exchange Conference in China's northeastern city of Dalian earlier this week.
China announced earlier this month that it will require export permits for graphite shipments starting in December. This is a move that could potentially disrupt the global battery industry's supply chain and adversely impact South Korean companies. Kim emphasized the importance of maintaining a close partnership between the two countries in the battery supply chain, highlighting that the recent restrictions have sparked concerns within the sector.
He also noted that a stable supply chain is mutually beneficial given that the battery industries in both countries are closely intertwined. South Korea could be significantly affected by these export curbs, as companies like LG Energy Solution Ltd. and SK On Co. have battery production lines operating in China.