President Moon Jae-in says South Korea will aim to be number one in the global battery market by 2030. 

Moon made the remark during a meeting to discuss “K-Battery” development strategies on Thursday. 

He said batteries are rapidly emerging as the heart of the future industry. Moon added they are positioned to exceed the global memory semiconductor market by 2025 and grow into a market worth 350 billion dollars by 2030. 

Noting batteries are also integral to achieve the goal of carbon neutrality, the president said the development of battery-related technologies will be a key engine in South Korea’s bid to turn itself into a leading economy. 

To achieve the goal, he proposed several strategies, including offering substantial incentives to draw investment, securing next-generation technologies and making inroads into new battery markets.