South Korean battery makers' combined research and development investment this year has climbed over 12 percent on-year despite a slowdown in global demand for electrified vehicles, industry data showed Sunday.

According to latest quarterly reports of LG Energy Solution Ltd., Samsung SDI Co. and SK On Co., their combined R&D investment during the January-September period amounted to 1.78 trillion won ($1.38 billion), up 12.5 percent from 1.58 trillion won for the same period of last year.

Of the three companies, Samsung SDI was the biggest R&D investor, with cumulative expenses up 6.7 percent to 836.4 billion won during the first nine months of 2023.

LG Energy Solution spent 730 billion won on R&D this year, marking a 15.2 percent increase compared to the same period last year. SK On's spending jumped 29.6 percent on-year to 220.7 billion won.

Local battery companies are focusing on strengthening R&D efforts, with a particular emphasis on developing high-capacity, high-safety and long-lasting batteries, as well as enhancing the development of price-competitive lithium iron phosphate and cobalt-free batteries. (Yonhap)

(责任编辑：여행)

• ·[Hello Hangeul] Love for Hangeul grows in corner of Sweden
• ·Year after deadly crowd crush, victims, families yet to leave it behind
• ·'Seventeenth Heaven' logs record
• ·[Herald Interview] Ian Bostridge enjoys incorporating great works of literature into music
• ·Extended getbol, Busan wartime capital sites make UNESCO's tentative list
• ·S. Korea expresses gratitude to Japan for assisting return of Koreans from war
• ·BTS’ Jungkook features The Kid Laroi’s new single 'Too Much’
• ·EcoPro seeks big leap as global battery materials maker