The Energy Storage System (ESS) market is experiencing explosive growth. ESS battery demand is projected to increase 56% from 230GWh in 2024 to 359GWh in 2026. CBRE predicts that global annual energy storage installations will exceed 100GW in 2026. The expansion of renewable energy and grid stabilization needs are driving ESS market growth.
Korea is one of the global top 3 powers in secondary batteries. LG Energy Solution, SK On, and Samsung SDI occupy about 25% of the global market share. The materials, components, and equipment supply chains of these companies span nationwide, with Gyeongbuk also serving as an important supply base.
Gyeongbuk's secondary battery connections lie in materials and components. Pohang has technological foundations for processing battery materials like lithium and nickel, not just steel. Chemical and precision processing companies in Gyeongju and Ulsan possess capabilities to participate in manufacturing core secondary battery materials like electrolytes, separators, and binders.
The government is also actively fostering the secondary battery industry. R&D tax credits and facility investment tax credits for secondary battery materials and components companies have been expanded, with additional incentives provided for non-metropolitan investments. Gyeongbuk Province is also working to attract battery-related companies.
To enter the secondary battery supply chain, ISO 9001 quality management system certification is basic, and IATF 16949 (automotive) or IEC 62619 (ESS) certification is required. Production environments capable of humidity and temperature control, though not necessarily clean rooms, are often required.
What Gyeongbuk manufacturers should do now is evaluate the conversion potential of existing manufacturing capabilities. Technologies like metal processing, chemical treatment, and precision assembly are directly applicable to secondary battery component manufacturing. If new production line construction is needed, it's efficient to simultaneously prepare factory expansion permits and government support program applications.
Expert Review
This article was reviewed by Sangyun Lee, Chairman of Yeongnam Startup Consulting.
Every real estate insight published on this site is reviewed before publication by Sangyun Lee, who has worked in real estate permitting in Gyeongju and Gyeongsangbuk-do for more than 20 years. Last reviewed on April 20, 2026.
Education
- Seoul National University Advanced Industrial Strategy Program (45th)
- Uiduk University Ph.D. in Business Administration
- Dongguk University M.A. in Public Administration (Local Autonomy)
- Konkuk University Graduate School of Real Estate
Public Appointments
- Advisory Member, National Unification Advisory Council · Office of the President, Republic of Korea
- Member, Gyeongsangbuk-do Regulatory Reform Council · Gyeongsangbuk-do Province
- Investment Attraction Advisor · Gyeongsangbuk-do Province
- Steering Committee Member, Gyeongbuk Policy Research Institute · Gyeongsangbuk-do Province
- Member, Ministry of Justice Beopsarang Committee · Ministry of Justice
- Member, Crime Prevention Committee · Ministry of Justice
- Member, Gyeongju Election Commission · Gyeongju City
Industry & Academic Roles
- Chairman, Gyeongju Gangdong Industrial Complex · Gyeongju City
- Chairman, Gyeongju Regional Development Council · Gyeongju City
- Adjunct Professor · Dongguk University
- President, SNU AIP 45th Alumni Association · Seoul National University
- President, Korea University Sports Federation · National
- President, Gyeongju Middle & High School Alumni Association · Gyeongju City
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