[finance daily reporter Jeong kyeong chun] While China holds an overwhelming lead in patent applications related to lithium iron phosphate (LFP) batteries, Korea is laying the foundation for a technological leap forward through qualitative competitiveness in patents and new research directions, according to an analysis.
According to SNE Research’s ‘LFP Patent Report’, as of 2022, China recorded 4,695 LFP patent applications, accounting for 63% of all applications, showing an overwhelming lead in the global market. The US (11%) and Europe (9%) followed, and Korea ranked high with 10%.
However, when looking at data other than the simple number of patent applications, the analysis shows that Korean companies are more competitive. In particular, in terms of the number of core patents evaluated based on the number of citations and patent families (a collection of patents based on the same invention: the international scope and expandability of the patent), LG Chem of Korea was found to be in the lead with 16 patents. This means that LG Chem possesses a number of high-quality patents that actually have an impact on technological development, beyond simple quantitative patent competition.
From the 2000s to the early 2010s, Korea has been steadily researching LFP batteries. However, as the NCM (nickel, cobalt, manganese) high-nickel cathode material technology capable of long-distance driving began to receive attention in the mid-2010s, the domestic research direction shifted to NCM. Accordingly, LFP-related research experienced a period of stagnation for a while.
According to the report, recent advancements in CTP (Cell to Pack) technology are revitalizing LFP battery research. CTP technology can compensate for the low energy density of LFP batteries while reducing manufacturing costs by connecting battery cells in pack units instead of modularizing them. Based on these technological advancements, Korean companies are focusing on LFP research again, and related patent applications have also increased rapidly since 2020.
Although Korean companies are late, LG Energy Solution began producing LFP batteries in China in late 2023, and Samsung SDI has also begun developing LFP batteries for ESS, aiming for mass production in 2026. SK On is the first of the three battery companies to unveil a prototype of an LFP battery for electric vehicles in March 2023, and aims for mass production in 2026-2027.
Although China is leading in terms of the number of patents in the global LFP market, Korea is expected to play an important role in the future market by strengthening its competitiveness in terms of the quality of technology. The patent report evaluated that “Korean companies such as LG Chem are likely to change the market landscape based on highly cited patents and core technologies.” LFP batteries, which combine stability and economy, are playing an important role in electric vehicles and renewable energy storage systems, and Korea is seeing an opportunity to leap forward by gaining a technological edge in the global market based on its core patent competitiveness.
