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Korean Industrial Insight No. 5 of AI, Semiconductors, Batteries and Electric vehicles |
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2024-10-02 |
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Ⅰ. AI INDUSTRY TRENDS
1. 8th Samsung Security Tech Forum Held
- A safe future with generative intelligence
Samsung Electronics held the 8th Samsung Security Tech Forum (SSTF). This annual event, which marks its eighth this year, brings together academia and industry professionals to share the latest technologies and trends in the field of security. The theme of this year’s forum was "Security with GenAI: Safeguarding the Future with Generative Intelligence.”
In his welcoming speech, Cheun Kyungwhoon, CTO Samsung Electronics DX & Head of Samsung Research, stated, "AI will not only enhance our convenience but also bring about innovative changes in the field of security." He emphasized that "Samsung's vision and commitment lie in integrating AI with security technologies to create a safer future."
Kim Tae-soo, managing director of Samsung Research Security & Privacy Team, shared his insights on “Challenges and Opportunities in Creating a Safer World in the Era of Generative AI” during a keynote speech. He also presented the development process and achievements of the AI security system showcased at the AI Cyber Challenge (AIxCC) recently hosted by the U.S. government.
Renowned scholars in security technology, including ▲Brendan Dolan-Gavitt, professor of computer engineering at New York University, USA ▲ Yoon In-soo, professor of electrical and electronic engineering at KAIST ▲ Park Sang-don, professor of computer engineering at POSTECH, gave an invited lecture.
Professor Brendan Dolan-Gavitt stressed in his presentation that while AI is effective in vulnerability detection, it also introduces new risk factors. Professor Yoon explained the importance of being aware of hacking threats to create a safer world and discussed the changes that AI will bring to the future of cybersecurity. Professor Park shared lessons learned from efforts to build trustworthy AI.
This year’s technical sessions invited authors of papers presented at leading global conferences in the security field to showcase their research findings. Additionally, Samsung Research introduced its ongoing research in the security field, including the detection of Artificial Inflation of Traffic (AIT) and sensitive data protection technologies. A panel discussion featuring researchers who participated in AIxCC also took place.
An experience zone was set up, allowing attendees to engage with security technologies that utilize AI. Attendees participated in various hands-on security experience events, such as utilizing generative AI tools to identify software vulnerabilities or attempt hacking.
2. SK Telecom Recognized for ‘On-Device AI’ Technology in Global Telecommunications Market
- Awarded in the outstanding AI use case at the 2024 Leading Light Awards
- Optimizes connectivity and reduces power consumption with On-Device AI
SK Telecom announced that it has received recognition for its advanced AI technology at the prestigious ‘Leading Lights Awards 2024,’ a global telecommunications industry event.
The Leading Lights Awards, presented annually by the renowned telecommunications media outlet ‘Light Reading,’ honors the best telecom operators and services in various sectors.
SK Telecom was named a winner of Outstanding Use Case: AI/Machine Learning, based on its research and development achievements in reducing smartphone power consumption using on-device AI technology. This category is awarded to telecom operators or manufacturers that utilize AI in innovative ways to enhance network and device performance, as well as improve service quality within the telecommunications sector.
SK Telecom has developed a technology that utilizes on-device AI to predict data generation within a specified timeframe. Based on the prediction results, the technology optimally controls the connection status between devices and base stations.
SK Telecom has implemented a lightweight AI model into smartphone modems to ensure stable real-time operation on smartphones. The company has verified that it can achieve a significant level of accuracy in predicting data generation, which in turn helps reduce smartphone power consumption.
According to SK Telecom, the on-device AI technology for reducing smartphone power consumption is significant as it addresses the growing power consumption issues in the AI era. When combined with manufacturers’ efforts to increase battery capacity and improve component energy efficiency, this technology can lead to substantial improvements in battery life.
3. AI Technology Identifies Lon-Laying Hens
- With 95% cage selection accuracy
Artificial intelligence (AI) technology has been developed to identify hens that do not lay eggs or lay fewer eggs. This is expected to help reduce feed costs and improve overall farm management.
The Rural Development Administration (RDA) has announced the development of a technology that uses AI to automatically recognize eggs moving on a belt conveyor of egg gatherers. This technology analyzes the number of eggs collected from each cage, distinguishing non-laying hens (0% laying rate) and low-producing hens (less than 50% laying rate).
Typically, around 3% of a flock are hens that do not lay eggs or lay fewer eggs. According to the RDA, these abnormal hens result in an annual feed cost loss of approximately KRW 38.9 billion based on the total number of laying hens. While experts can distinguish abnormal hens by manually checking areas such as the hen’s pelvic areas, this process is time-consuming and costly.
The National Institute of Livestock and Poultry School and a joint research team have trained the AI model to recognize eggs in various henhouse environments, in order to increase the accuracy of identifying cages with abnormal hens. As a result, the technology was successfully implemented to be unaffected by factors such as the color, material, and speed of the egg collector, as well as the color and direction of the eggs.
Additionally, a web-based information collection (monitoring) system has been developed that allows easy access to view cages with abnormal hens and the average number of eggs laid per cage on computers or tablets. Evaluation results from farms indicated that the accuracy of cage selection reached an impressive 95%.
Moon Byeong-yeon, the representative of Lee Sung Farm participating in the field demonstration, expressed anticipation, stating, “The introduction of this system will help us easily identify problematic hens, which will help reduce feed costs and improve farm management.”
The head of RDA’s National Institute of Animal Science stated, “We will promote commercialization through the joint research companies that were involved in the technology development and transfer the AI model and related patents to companies interested in utilizing this technology.” He added, “We will do our best to assist farmers.” He further mentioned, “We will also make public the AI training data acquired during the research and development process to contribute to help spread smart farm technologies.”
Ⅱ. SEMICONDUCTOR INDUSTRY TRENDS
1. Samsung Electronics’ Semiconductor Technology Worth 4.3 Trillion Won Leaked to China. Former Executive Sent to Prosecutors.
- Technology developed with approximately KRW 4.3 trillion in investment leaked overseas
- CHJS CEO Choi and Director Oh arrested and sent to jail
- Investigation includes illegal personnel dispatch for technology leakage
A former executive who embezzled key semiconductor technology developed by Samsung Electronics, which costed trillions of won, to establish a joint venture in China has been referred to prosecutors while in custody. Authorities estimate the economic value of the leaked technology to be around 4.3 trillion won.
On October 10, the Seoul Metropolitan Police Agency’s Industrial Technology Security Investigation Unit announced that they had arrested Mr. Choi (66), the CEO of Chinese semiconductor manufacturer CHJS, and Mr. Oh (60), the director of process design, on charges of violating the Industrial Safety and Health Act, as well as the Unfair Competition Prevention and Trade Secret Protection Act, and also of breach of trust in the course of their duties.
According to the Seoul Metropolitan Police Agency, Mr. Choi and another individual established the semiconductor manufacturer CHJS in collaboration with a local Chinese government around September 2020. They are accused of leaking and misusing key technologies related to Samsung Electronics’ 20-nanometer DRAM memory semiconductor process by transferring a significant number of domestic semiconductor professionals.
The leaked national core technologies include PRP (Parallel Redundancy Protocol), which outlines the sequence of semiconductor processes and key conditions for each process, as well as the MTS (make-to-stock), which details the target specifications for elements such as yield, reliability, and quality.
The police began investigation in February last year, after receiving a tip-off. They conducted preliminary investigations (internal investigation), securing testimonies and technical documents from related parties in China. Subsequently, they continued their investigation executing search warrants at the suspects’ residences and offices.
Mr. Choi has been identified as an authority in the domestic semiconductor industry, having served as an executive at a leading semiconductor company in South Korea. He established a semiconductor company in Singapore in 2015 and primarily engaged in semiconductor consulting until 2018.
It has been confirmed that after failing to pursue the construction of an overseas semiconductor factory, he established CHJS in September 2020 with investment from the local Chinese government.
The police believe that Mr. Choi committed these crimes while operating a semiconductor consulting business overseas after leaving his previous position. In connection with this case, the police are also investigating other employees who moved to CHJS.
The investigation is also looking into whether there was any illegal transfer of personnel aimed at leaking core domestic technologies during the process of key personnel moving abroad. Approximately 30 individuals have been charged in relation to this workforce transfer.
According to the police, the development cost for Samsung Electronics’ 18-nanometer process is estimated at around 2.3 trillion won, while the development cost of the 20-nanometer process is approximately 2 trillion won, bringing the total economic value of leaked technology to about 4.3 trillion won.
Given the economic impact, it is difficult to assess the actual cost of damage. The police are also keeping the possibility of further technology leakage while continuing their investigation.
Samsung Electronics put at least 1,000 researchers in the development of 20-nanometer DRAM. However, CHJS improperly acquired decades of Samsung’s expertise without undergoing such research and development processes, reaching the level of trial wafer production.
Semiconductor manufacturers with experience in developing previous generations of DRAM typically require at least 4 to 5 years to develop a new generation of DRAM. Considering this, the speed at which CHJS has achieved is exceptionally fast.
CHJS successfully developed a 20-nanometer DRAM around June last year and was in the process of increasing yields for mass production. However, due to this ongoing investigation, the operations have been halted. There are currently no reported actual profits from the leaked technology.
A police official stated, “We plan to conduct a thorough investigation into additional domestic personnel involved in the technology leakage and the related allegations of personnel transfers.”
2. SK Secures Initial Funding Through Government Semiconductor Low-Interest Loan Program.
SK Hynix has secured funding for the first time through the government’s semiconductor low-interest loan program.
Recently, 22 semiconductor companies, including SK Hynix, applied for loans related to the “Special Program for Semiconductor Facility Investment Support” at KDB Industrial Bank. This marks the first time SK Hynix obtained funding through this program, with the estimated funding amount reaching several hundred billion won.
A financial industry official stated, “SK Hynix requested the necessary funds from the bank considering its demand for facility investments. Having secured funding through KDB annually, they have decided to utilize this program as its loan conditions are more favorable than the previous products.”
The Special Program for Semiconductor Facility Investment Support was launched in July as part of the government’s comprehensive support plan for the semiconductor ecosystem. This program aims to provide 2 trillion won in funding to the private sector through low-interest loans. Conglomerates will benefit from a preferential interest rate of 0.8 to 1 percentage point, while small and medium-sized corporations can benefit from rates of 1.2 to 1.5 percentage points, offering some of the lowest rates available in the market.
With SK Hynix leading the way, an increasing number of semiconductor companies are seeking policy funding, resulting in a rapid increase in the execution of related loans. According to the KDB, the utilization rate of the special program’s limit was recorded at 55% (1.1 trillion won) as of September 9. This indicates strong demand from companies, as more than half of the limit has been used within just over two months since the program’s launch.
Meanwhile, KDB Chairman Kang Seok-hoon held a meeting with representatives of major semiconductor companies to further discuss measures for enhancing semiconductor competitiveness. Semiconductor-related companies, such as Telechips, pkc Chemical&Biotech, YC Corp, FINE Semitech, Hana Micron, Techwing Inc, Dongjin Semichem, Nextchip Co, and LB Semicon, participated in the meeting. Chairman Kang stated, “Artificial Intelligence (AI) is expected to have a tremendous impact on our economy, industry, and society. The success of AI depends on semiconductors. We will play a leading role as a policy bank by providing active financial support to semiconductor companies.”
3. Samsung Electronics and Hyundai Motor Expand Collaboration in Semiconductors and Batteries
The collaboration between Lee Jae-yong, Chairman of Samsung Electronics, and Chung Eui-sun, Chairman of Hyundai Motor Group, is drawing attention as it expands from hardware, including semiconductors and batteries, to software in the field of future mobility.
The “MOU for Technology Partnership and Mutual Cooperation” signed by both companies is a continuation of the “Home-to-Car and Car-to-Home” service partnership established earlier this year.
In January, the companies entered into an agreement for the “Home-to-Car and Car-to-Home” service, integrating SmartThings platform with Hyundai and Kia’s connected car service platform to develop next-generation smart home-mobility services and integrated home energy management services. This new agreement includes additional technologies such as the global location tracking solution “SmartThings Find.”
The industry views this partnership significant as Samsung Electronics made a partnership with Hyundai Motor Group in its strategic business-to-business (B2B) artificial intelligence (AI) initiatives.
Earlier this month, Samsung Electronics unveiled its “AI B2B” solution based on “SmartThings Pro” at IFA 2024 held in Berlin, Germany. Wile SmartThings targets B2C (business-to-customer) market, SmartThings Pro is a dedicated integrated connectivity platform designed specifically for B2B sector, including residential and commercial buildings.
At IFA 2024, Samsung Electronics introduced AI B2B solutions, such as “AI Apartment,” “AI Office.” “AI Store,” “AI Stay,” achieving tangible results in less than a month.
As part of this collaboration, Samsung Electronics will take on a key role in Hyundai Motor’s SDV initiative, which aims to shift the concept of mobility from “movement” to “spacial experience.” The SDV is often perceived as a “smartphone on wheels,” with Hyundai Motor Group declaring “2025 SDV Transformation” last year, aiming for full vehicle application by 2026.
Hyundai Motor’s President Song Chang-hyeon, who attended the signing ceremony, also emphasized the importance of software by presenting the concept of decoupling, which refers to the separate development of software and hardware during the HMG Conference last November. Given that the two companies have decided to collaborate in the infotainment sector, expectations are high for their strong partnership in future vehicle development.
Market research firm Fortune Business Insights estimates that the vehicle management software market will grow from $27.55 billion (36.7 trillion won) this year to $116.56 billion (155 trillion won) by 2032. With an expected annual growth rate of 19.8%, intense competition and strategic partnerships between global automakers and information technology (IT) companies are anticipated.
Hyundai Motor Group plans to share vehicle data application programming interfaces (APIs) and software development kits (SDK) through a next-generation infotainment system based on an open ecosystem, allowing not only Samsung Electronics but also various business partners to participate. As part of this initiative, the company will hold the “2025 Developer Conference" in the first half of next year. They plan to unveil SDK that will enable outside developers to actively participate in the development of "killer apps," along with the establishment plans of an application market specifically for SDVs.
The strong alliance between the two companies is noteworthy not only for securing competitiveness in the future vehicle market but also for representing a collaboration between two key exporters in South Korea. Although their connection had effectively been severed since Samsung Electronics entered the car market in 1995, a pivotal meeting between Chairman Lee and Chairman Chung in May 2020 reopened the path for cooperation.
Following this, Samsung Electronics agreed to supply Hyundai with the premium infotainment (IVI) processor "Exynos Auto V920," targeting delivery next year. Additionally, Samsung Electro-Mechanics has been selected as a primary partner for Hyundai Motor and Kia. Samsung SDI has also agreed to supply batteries for 500,000 electric vehicles destined for the European market over a seven-year period starting in 2026.
The industry anticipates that the collaboration between the two companies is likely to extend beyond automotive electronics and software to include semiconductors and batteries. In terms of semiconductors, Hyundai Motor Group acquired the semiconductor division of Hyundai Autron in 2021 and has since focused on developing semiconductors optimized for vehicle software. Partnering with Samsung Electronics could not only create synergies but also ensure a stable supply chain.
Ⅲ. BATTERY INDUSTRY TREND
1. Korea’s Fair Trade Commission Conducts On-site Investigation of Mercedes-Benz
The Fair Trade Commission is investigating Mercedes-Benz Korea for allegedly failing to properly inform consumers that low-cost batteries sourced from China were installed in high-priced electric vehicles.
According to sources in the automotive industry, the Commission's dedicated investigation team dispatched inspectors to the Mercedes-Benz Korea headquarters in Jung-gu, Seoul, on the 10th to conduct an on-site investigation.
The Fair Trade Commission is reportedly examining whether Mercedes-Benz violated advertising regulations in relation to a fire that occurred in the underground parking lot of an apartment complex in Cheongna, Incheon. The electric sedan EQE, which caught fire while parked in the apartment complex, is said to have been equipped with batteries from the Chinese company CATL only in the 300 trim, while other models were equipped with batteries from the Chinese firm Farasis. However, it is alleged that Mercedes-Benz either failed to properly disclose this information or misled consumers into believing that all models were equipped with CATL batteries.
Earlier, in 2022, Mercedes-Benz was found to have installed illegal software in its diesel vehicles to manipulate emissions levels, while falsely promoting the vehicles' emission reduction performance to consumers. As a result, the Fair Trade Commission imposed a fine of 20.2 billion won on the company.
Meanwhile, this is the fourth case assigned to the FTC’s newly established dedicated investigation team since its creation in February. The Fair Trade Commission created this team to expedite investigations into matters of significant public interest. The team has previously investigated cases related to obstructing cancellations of over-the-top (OTT) media services and music streaming services, as well as manipulation of game item probabilities.
2. Q2 K-Battery Market Share at 26.1%. Down 4.2% from Q1
- SNE Research Analysis: Market share of Chinese CATL and BYD increase with growing LFP adoption
In the second quarter of this year, the market share of South Korea's three major battery manufacturers in the global electric vehicle (EV) battery market decreased compared to the previous quarter. According to market research firm SNE Research on the 10th, the total market size for EV batteries in Q2 was recorded at $26.29 billion in revenue, with a total shipment volume of 231 GWh.
In terms of revenue-based market share, LG Energy Solution saw a decline to 14.7% from 16% in the previous quarter but maintained its position as the second-largest player. Samsung SDI held the fourth position with a share of 7.1%, while SK On remained in fifth place with a share of 4.3%.
The combined market share of the three companies fell from 30.3% in Q1 to 26.1% in Q2, a decrease of 4.2%.
In contrast, Chinese companies continued their growth trajectory by leveraging a strong domestic market while accelerating their overseas expansion.
CATL increased its market share from 29.8% to 31.6%, securing the top position, while BYD maintained its third place, raising its share from 11.1% to 11.9%.
In terms of shipment-based market share, Chinese companies CATL and BYD secured the first and second positions with shares of 35.9% and 16.5%, respectively. The combined market share of the two companies recorded 52.4%.
For South Korean firms, LG Energy Solution ranked third with a 12.1% share, Samsung SDI fourth with 4.3%, and SK On eighth with 3.5%. The combined market share of the three South Korean companies accounted for 19.9%, marking a decline from 25.3% in Q1.
SNE Research noted, "The increasing adoption of lithium iron phosphate (LFP) by major automotive manufacturers, along with a stable supply chain and economy of scale, is contributing to the growing market share of Chinese battery companies." They further projected that "the market share of Chinese firms leading the LFP market sector will continue to grow."
3. LG Energy Solution Unveils New Brand BMTS: "Total Battery Solutions from A to Z"
- Real-time monitoring of battery status in any condition
- Providing comprehensive battery solutions
LG Energy Solution has officially launched its Battery Management Total Solution (BMTS) business, introducing the new brand ‘B.around.’
On the 25th, the company explained that BMTS is their unique and differentiated solution in the market that goes beyond traditional Battery Management Systems (BMS). It integrates a range of enhanced features, including safety diagnostics and degradation/lifespan predictions powered by cloud and AI technologies. It also provides solutions tailored for Software-Defined Vehicle (SDV) platforms, highlighting LG Energy Solution's distinctive capabilities in the market.
The name “B.around” symbolically reflects LG Energy Solution's exceptional technological competitiveness and commitment to customer value. It emphasizes the company's dedication to providing a safe and efficient battery experience by ensuring real-time monitoring of battery status in all situations.
Moreover, the brand’s slogan ‘Be around your side’ signifies the intention to remain closely connected with customers and end-users, offering optimal battery solutions that deliver differentiated customer value.
As interest in the safe use of electric vehicles grows, BMS have gained significant attention. BMS monitors key data such as battery current, voltage, and temperature, to ensure optimal battery performance while also detecting potential issues in advance.
BMTS is superior to BMS, as it offers more advanced solutions by incorporating software utilizing cloud and AI technologies for enhanced safety and battery degradation/lifespan diagnostics.
The BMTS brand B.around product line is primarily divided into three categories: ▲ BMS software solutions (safety diagnostics and degradation/lifespan predictions) ▲ BMS hardware solutions ▲ solutions for Software-Defined Vehicle (SDV) platforms.
The core function of the software solution is to pre-diagnose potential fault types and monitor the degradation status of the battery, ensuring it remains healthy for an extended period.
An advanced BMS hardware solution is also provided, delivering differentiated customer value. Furthermore, solutions optimized for SDV platforms are provided. LG Energy Solution is actively developing System-on-Chip (SoC) based technologies through collaborations with semiconductor companies such as Qualcomm.
The company stated, “We are innovatively improving existing BMS technologies based on over 20 years of accumulated BMS design capabilities, more than 8,000 patents related to BMS, and extensive empirical data analysis.”
LG Energy Solution’s BMTS technologies were developed using empirical data obtained by disassembling and analyzing more than 130,000 battery cells and 1,000 battery modules. It has already been applied to over 100,000 electric vehicles, achieving a safety diagnostics detection rate of over 90%, with a degradation diagnosis error rate at an industry-leading level of around 1%.
Based on its proven battery management capabilities, the company plans to sell products from the B.around brand to carmakers.
Ⅵ. ELECTRIC VEHICLE INDUSTRY TRENDS
1. Hyundai and Kia EVs Named Wards 10 Best Engines
The powertrain system integrated into Hyundai Motor Group's dedicated electric vehicle platform has been recognized in the "10 Best Engines & Propulsion Systems" list by the American automotive publication.
Hyundai Motor Group said today that the powertrain system mounted on its dedicated electric vehicle platform, E-GMP, has been named one of the 10 Best Engines & Propulsion Systems by the US automotive media outlet Wards Auto.
The powertrain systems selected this time are those of Hyundai Motor's IONIQ 5 N and Kia's EV9 GT-Line.
This recognition marks Hyundai Motor Group's third consecutive year of receiving this award, following wins in 2022 and last year.
The company explained that the powertrain systems of the IONIQ 5 N and EV9 were praised for their excellent driving performance, range on a single charge, and advanced driving-related technologies.
Since 1995, Wards Auto has annually selected the 10 Best Engines, which is often referred to as the Oscars of automotive powertrain technology. Wards Auto renamed the award to “10 Best Engines & Propulsion Systems” in 2019.
2. Hyundai Motor Launches the 2025 Ioniq 5 N at 77 Million Won
Hyundai Motor has launched the updated model of its high-performance electric vehicle, the 2025 Ioniq 5 N, with a starting price of KRW 77 million.
The new Ioniq 5 N enhances its marketability by incorporating high-performance specifications tailored for electric vehicles, reflecting customer feedback, and adding new features to provide improved overall user experience.
Hyundai has refined the "N Drift Optimizer," which was previously featured in Ioniq 5 N, to facilitate smoother drifting performance. The vehicle's signal monitoring logic has been improved to better assess drift conditions based on vehicle dynamics and road surface changes. Additionally, the control stages have been subdivided into 10 levels, allowing drivers to select a drift assistance level that aligns with their skill level.
In particular, the 10-level (Pro Mode) minimizes vehicle dynamics control (VDC) and allows for linear adjustment of drive torque, providing an environment where skilled drivers can drift with greater freedom.
Hyundai has also introduced the "Downshift Memory" and "Downhill Assist" features to the Ioniq 5 N's virtual transmission system, "N e-Shift."
The Downshift Memory function allows the vehicle to remember the downshift command when the driver engages the shift before decelerating to the permissible engine RPM, executing the shift only when that RPM is reached. Similarly, the Downhill Assist feature helps maintain stable driving by preventing the vehicle from rapidly descending slopes during downshifting, akin to the engine braking in internal combustion engine vehicles.
The N e-Shift function is now available in all driving modes, including Eco, in addition to the existing Normal, Sport, and N modes, allowing drivers to experience enjoyment across all driving conditions. Moreover, when utilizing the "N Launch Control" feature, the system has been adjusted to ensure that the launch control preparation sound is always activated, even when the virtual sound system "N Active Sound Plus (NAS+)" is turned off.
In addition, Hyundai has equipped the Ioniq 5 N with several advanced features, including △an Intelligent Front Lighting System (IFS) that adjusts high beams to prevent blinding oncoming drivers, △a Walk-Away Lock feature, an automatic door lock system that automatically secures the doors when the smart key is detected at a certain distance from the vehicle, △interior V2L , △a vibrating warning steering wheel, and △safety windows for the second row.
The Ioniq 5 N is offered in a single trim, with a base price of 77 million won after eco-friendly vehicle tax benefits. Hyundai explains that the actual purchase price may be further reduced depending on government and local subsidies.
3. Consumer Complaints for EV Surge over Eightfold in Four Years
According to Representative Lee Jung-moon of the Democratic Party on the 20th, consumer complaints regarding electric vehicles have increased more than eightfold over the past four years.
He disclosed that, based on data received from the Korea Consumer Agency, the number of electric vehicle-related inquiries registered with the Fair Trade Commission's integrated call center, “1372 Consumer Counseling Center,” reached a total of 709 cases last year. This is an approximate 8.64-fold increase compared to 82 cases in 2019.
As of August, a total of 549 consumer complaints have been recorded this year, indicating that the increase in complaints compared to five years ago is expected to be even more significant by the end of the year.
Analyzing consumer complaints from 2019 to August this year by category, quality-related issues accounted for the highest number at 856 cases, followed by after-sales service (A/S) complaints at 597 cases and contract violations at 375 cases.
The number of compensation claim cases has also increased significantly, rising from 5 in 2019 to 55 in 2023. This year alone, there have been 15 cases reported.
Reports of safety-related incidents involving electric vehicles decreased from 101 cases in 2020 to 52 cases in 2021 and further to 25 cases in 2022. However, it surged again to 144 cases last year and 226 cases as of August this year.
Representative Lee stated, "Consumer anxiety has grown following the electric vehicle fire incident in Incheon, yet regulatory measures to hold parties accountable remain insufficient. We must make every effort to establish safety measures for electric vehicles."
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Before Chuseok, the ‘Saebit Market Counterfeit Product Investigation Council’ conducted a 4th joint crackdown, confiscating about 1,500 counterfeit items.(News Letter No. 538)
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Korean Industrial Insight No. 7 of AI, Semiconductors, Batteries and Electric vehicles in Chinese
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