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South Korea's battery industry is struggling after the cancellation of significant vehicle battery supply contracts in the U.S., leading to a decline in market share in Europe and jeopardizing access to tax credits. Trade Minister Kim Jeong-gwan met with major firms LG Energy Solution, SK On, and Samsung SDI to address the challenges posed by reduced electric vehicle subsidies and increasing competition from Chinese companies. The government is being urged to provide incentives and support for restructuring to enhance competitiveness amid high electricity costs and limited raw material access.