LG Energy Solution and the Korea Electrical Safety Corporation have joined forces to prevent fires in energy storage systems (ESS), enhance safety management systems, and build a domestic LFP battery ecosystem.

LG Energy Solution announced on the 7th that it had signed a memorandum of understanding (MOU) with the Korea Electrical Safety Corporation to strengthen ESS safety and foster a domestic LFP ecosystem.

Through this agreement, the two parties plan to cooperate in preventing ESS fires and advancing safety management systems, and to jointly establish a new safety management framework for ESS sites where LFP batteries are applied.

In particular, the companies will actively reflect ESS operation data and on-site experience to promote safety management standards and institutional improvements tailored to the characteristics of LFP batteries. The aim is to address criticism that domestic ESS safety standards are centered on ternary batteries and lack criteria specifically designed for LFP.

According to market research firm SNE Research and others, more than 90% of global ESS installations are based on LFP batteries. LFP batteries have high cost competitiveness and a lower fire risk, and have become mainstream in the global ESS market, but in Korea they have been assessed as lacking sufficient related safety standards and management systems.

LG Energy Solution is the only Korean company with a large-scale mass production system for LFP batteries, and has been accelerating the establishment of a domestic LFP industrial ecosystem, including previously announcing plans to promote domestic production of LFP batteries at its Ochang Energy Plant in North Chungcheong Province.

The two parties expect that this agreement will have a positive impact on enhancing the reliability and expanding the market for LFP-based ESS in Korea.

LG Energy Solution President Kim Dong-myung said, “Based on this agreement, we will apply the highest level of safety standards to ESS sites using LG Energy Solution batteries and do our utmost to build safety systems and an ecosystem for ESS-use LFP batteries in Korea.”

Korea Electrical Safety Corporation President Nam Hwa-young said, “For the ESS industry, which is a core element of energy security, to achieve sustainable growth, safety must be guaranteed above all,” adding, “Through cooperation with LG Energy Solution, we will create a safe energy ecosystem that the public can trust and utilize.”

Popular News