Are South Korean companies investing in energy storage systems?

Less than a decade ago, South Korean companies held over half of the global energy storage system (ESS) market with the rushed promise of helping secure a more sustainable energy future. However, a string of ESS-related fires and a lack of infrastructure had dampened investments in this market.

What happened at a battery installation in South Korea?

The aftermath of a fire at a battery installation in South Korea’s Chungcheongbuk province. A string of fires has brought the nation’s energy storage market to a standstill. Image: North Chungcheong Province Fire Service Headquarters

How will the Korean energy storage fire affect safety?

The Korean energy storage fire will undoubtedly catalyze the development of more comprehensive safety regulations. This could manifest as enhanced certification processes for energy storage systems, including more rigorous testing protocols before approval.

How many battery fires happened in South Korea?

A series of 28 consecutive battery fires that occurred in South Korea between 2017 and 2019 led the nation's energy storage market to complete paralysis. The country's Ministry of Trade, Industry and Energy (MOTIE) reached a handful of broad conclusions in its investigative report into the accidents.

What causes a Korean energy storage fire?

Understanding the Root Causes The Korean energy storage fire has its roots in various interrelated factors, with battery management systems (BMS) being at the forefront. A malfunctioning BMS can lead to overheating, which subsequently precipitates thermal runaway —a critical situation that can culminate in fire or explosion.