The Ministry of Trade, Industry and Energy on Jan. 12 said Korea's top three battery makers dominated the European Union market last year. (Yonhap News)

By Kim Hyelin and Yoon Sojung

Three Korean battery makers – LG Energy Solution, SK On and Samsung SDI – dominated the European Union's (EU) battery market last year.

The Ministry of Trade, Industry and Energy on Jan. 12 said the trio had a combined 71.4% of the EU battery market, where electric vehicles (EVs) are widely used.

The ministry explained that this was thanks to future-looking investment in the EU by Korean companies since 2017.

Korean companies own 64.2% of battery production facilities in the EU.

To maintain their competitiveness in this sector, such businesses aim to expand the output of their EU-based facilities from 99.7 gigawatts per hour to 204.1 by 2025.

Korea's Big 3 in batteries have made overwhelming new investment in the U.S., where the EV market is in its infant stage.

The U.S. Department of Energy late last month said that by 2025, 11 of 13 large-scale battery plants in America will have been built by the three companies.

If the department's announced plan proceeds without a hitch, the Korea Battery Industry Association said the three by 2025 will control 70% of battery production in the U.S., up from 10.3% now.

Korean companies last year had the highest share of the global battery market with 52% except in China, where domestic players dominate.

kimhyelin211@korea.kr