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Nov 26, 2016

BATTERIES Cos. BLOCKED * South Korea - To enter in chinese market

* Seoul - Chinese Government virtually blocking Korean batteries from entering chinese market

--- The Chinese government issued an industrial regulatory plan that will expand the minimum size of battery manufacturers’ facilities in China 40-fold. Korean battery companies such as LG Chem, Samsung SDI, and SK Innovation seem to be virtually unable to get approval for several years... The Korean battery industry sees the Chinese government's action as its intention to block Korean companies’ entry into the Chinese battery market. Some say that it is retaliation against the Korean government's decision to deploy the Terminal High Altitude Area Defense (THAAD) System in connection with a recent move by the Chinese government to ban the Korean Cultural Wave. Some analysts say that the Chinese government rules out foreign companies more because of a lack of subsidies for eco-friendly batteries... 
(Photo: The Chinese government will expand the minimum size of battery manufacturers’ facilities in China 40-fold, virtually blocking Korean battery companies to enter into the Chinese market)   --   Seoul, S. Korea - Korea Premier Business Portal, by Michael Herh - 24 November 2016

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