L&F Halts Anode JV Plan with Mitsubishi Chemical

The Ministry of Land, Infrastructure and Transport announced on May 11 that the 8th Mobility Innovation Committee approved 16 agenda items, including demonstrations for an “EV battery subscription service” and “vehicle operation in Gwangju’s autonomous driving demonstration city.” South Korean consumers will be able to purchase only the vehicle body of an electric vehicle and lease the expensive battery separately. In addition, 200 autonomous vehicles to be deployed in Gwangju’s autonomous driving demonstration city will be eligible to apply for temporary operation permits without undergoing the self-certification process.

According to the government on May 10, KOTRA will hold the Korea-China Secondary Battery Export Consultation and Online Business Meeting in Shenzhen, China, from May 13 to June 19. The event is linked to the China International Battery Fair (CIBF 2026), which will be held in Shenzhen.

WCP announced on May 11 that it posted consolidated revenue of KRW 42.8 billion, an operating loss of KRW 20.5 billion and a net loss of KRW 48.4 billion for the first quarter of this year. Revenue increased 26.5% year on year, while the operating loss narrowed by 32.6%. However, the net loss widened by 45.4%. Compared with the previous quarter, revenue rose 57.9%, while the operating loss narrowed by 49% and the net loss decreased by 11.4%.