Tokyo: SK On Co., the battery manufacturing arm of South Korea's SK Group, announced plans to open an office in Japan later this month to strategically target opportunities in the energy storage system (ESS) sector. This decision is part of the company's efforts to identify new growth avenues amidst a prolonged slowdown in electric vehicle (EV) demand.

According to Yonhap News Agency, SK On is in the process of setting up the office in Tokyo and is actively negotiating with several Japanese companies to explore potential collaborations in EV batteries and ESS. A company spokesperson, speaking by phone, emphasized that the new office will enhance the company's ability to respond swiftly and effectively to customer demand, aiming to secure new contracts and improve profitability.

The establishment of a presence in Japan is seen as a strategic move for SK On to bolster its international footprint and leverage local partnerships to advance its goals in the ESS market.