[SMM Analysis] Korea’s NEV Market Recovery Remains Mixed as ESS Emerges as a Key Growth Channel for Battery Makers
Korea’s NEV market is recovering from late-2025 weakness, but the rebound remains HEV-led rather than BEV-driven. BEV share has improved, yet the recovery still lacks consistency. For Korean battery makers, domestic EV sales and export data alone are no longer sufficient indicators of demand recovery. ESS, supported by domestic policy demand and North American utility-scale projects, is emerging as a clearer growth channel.