SEOUL, South Korea – The recent deadly factory blaze in South Korea has raised concerns about battery safety in the country, which is a major global supplier of lithium-ion cells used in electric vehicles and energy storage systems. The fire, accompanied by explosions at a lithium battery plant south of Seoul, resulted in the tragic loss of 23 workers and left eight injured. While the plant manufactured primary lithium cells for single use, the incident has cast a shadow over the industry, which has faced issues with fires in the past.
In response to the tragedy, the Korean government is taking action by assembling a task force with civilian experts to implement crucial improvements to fire safety measures. This move comes after a series of incidents that have damaged the industry’s reputation and raised concerns about the safety of lithium batteries in general.
Industry experts warn that the incident could impact broader sentiment towards the electric vehicle battery industry in South Korea. CEOs like Bang Sungyong emphasize the need for technological advancements to ensure safer batteries, even if the batteries involved in the fire were not the rechargeable ones used in electric vehicles. Companies like LG Energy Solution Ltd., SK On Co. and Samsung SDI Co., leading global manufacturers of power cells, have faced challenges in deploying energy storage systems due to past incidents.
As the world shifts towards cleaner energy sources, the demand for batteries has surged, leading to an increase in battery producers globally. Unfortunately, this growth has also seen a rise in battery-related fires, highlighting the critical need for safety measures within the industry. The recent explosion in Korea underscores the importance of prioritizing safety as the industry expands, according to industry experts like Robin Zeng.
The fire broke out at a lithium battery plant in Hwaseong, south of Seoul, on Monday, resulting in significant losses for companies like S Connect Ltd., which saw a drop in shares following the incident. The majority of the victims were migrant workers from China, shedding light on potential labor issues within the industry. This tragic event serves as a reminder of the importance of stringent safety protocols and regulations in the battery manufacturing sector.