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| Canada's Minister of Innovation, Science and Industry Francois-Philippe Champagne, fifth from right, poses with executives of LG Energy Solution (LGES) and Stellantis at the site for the two companies' joint battery plant in Ontario in this March 2022 file photo. Courtesy of LGES |
Trudeau meets with chairmen of SK Group, POSCO Holdings
By Park Jae-hyuk
Canadian government officials visiting Korea this week have been focusing on strengthening partnerships with electric vehicle (EV) and battery firms here, drawing speculation on whether the mineral-rich North American country can resolve a conflict with LG Energy Solution (LGES), one of the world's leading EV battery manufacturers.
On Wednesday, Canadian Prime Minister Justin Trudeau had meetings with SK Group Chairman Chey Tae-won and the group's top battery-related businesses executives, as well as POSCO Holdings Chairman Choi Jeong-woo.
Trudeau met with executives of EV battery maker SK On and SKC, which produces copper foil for batteries. The POSCO Holdings chairman had talks with the prime minister on the business of POSCO Future M, which had decided to set up a joint battery materials plant in Quebec with General Motors.
"On Stellantis and LG, Canada has been successfully delivering great jobs for the middle class across the country through investments by partners from around the world. We will continue to do that," Trudeau told reporters after his summit with President Yoon Suk Yeol on Wednesday afternoon.
Francois-Philippe Champagne, Canada's minister of innovation, science and industry, who accompanied Trudeau on his trip to Korea, also told reporters late Tuesday that he would talk with LGES management at Wednesday's dinner hosted by Yoon, to convince the Korean company and Stellantis to resume the construction of their joint battery plant in Ontario.
The construction has been suspended as the Canadian government did not fulfill its promise of offering higher incentives while providing Volkswagen with handsome benefits.
"In the spirit of fairness ... we said we would level the playing field with the United States, that we would offer them a fair deal quite similar to what we have offered to Volkswagen," Champagne said, urging Ontario to pay its fair share. The Canadian province has remained reluctant to share the burden with the central government.
The Canadian minister added that he wants to reassure LGES CEO Kwon Young-soo of Canada's satisfaction with this investment.
"I know his face, I know who he is, so we just need to find him in the room, but trust me … I'm not very shy, so if he's in the room, I will talk to him," he said.
An LGES spokesman, however, said on Wednesday morning that the CEO would not attend the dinner. According to government sources, LGES Chief Risk Management Officer Lee Bang-soo was on the dinner list.
"The event will be attended by other executives," the spokesman said. "It remains unclear whether the issue will be discussed at the dinner, given that there will be executives of other companies."
During his visit to Seoul, Champagne also met with executives of Hyundai Motor and Solus Advanced Materials.
"Canada and Hyundai will keep working together to expand and collaborate," he tweeted. "Solus Advanced Materials is Canada's key partner and a leader in the next generation of the EV battery ecosystem."
He also visited Hanwha Group's headquarters to talk with Hanwha Aerospace executives about cooperation in aerospace and defense.
In addition, SK ecoplant and Canada's World Energy GH2 signed an agreement for the Korean builder's participation in the first phase of Project Nujio'qonik, a $4.5 billion (U.S.) intercontinental green hydrogen commercialization project.
The agreement came as the Canadian prime minister emphasized the two countries' cooperation in clean energy projects, in his speech at Korea's National Assembly earlier that day.
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