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.
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