LG Chem, South Korea’s leading chemicals company, is ramping up its automotive adhesives business as the rising market for electronic components in vehicles is expected to fuel demand. On Wednesday, LG Chem announced it had secured a deal to supply its heat-dissipating adhesives to a US-based electric vehicle company. The client’s name was not immediately disclosed due to confidentiality reasons. The heat-dissipating adhesive is used to bond battery cells within modules and packs. Wi

LG Energy Solution posts KRW 6.8778 trillion in consolidated revenue and KRW 448.3 billion in operating profit The company secures large-scale supply agreements leveraging new form factors and chemistries The company to effectively address EV/ESS market needs, with the long-term focus on operational efficiency, R&D, and business portfolio expansion SEOUL, South Korea, Oct. 28, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced its third quarter earnings, alo

Seoul shares opened higher Friday following tech gains on Wall Street, although investors remained concerned about a potential slower pace of the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 25.4 points, or 0.98 percent, to 2,606.43 in the first 15 minutes of trading. Overnight, US stocks ended mixed. The Dow Jones Industrial Average fell 0.33 percent to 42,374.36, while the tech-heavy Nasdaq Composite rose 0.76 percent to 18,415.49. In Seoul, tech stock

Seoul shares closed higher Monday to snap their three-day slide as investors scooped oversold stocks after US gains. The Korean won fell to the lowest in over two months against the US dollar. The benchmark Korea Composite Stock Price Index rose 11.1 points, or 0.43 percent, to close at 2,604.92. Trade volume was moderate at 235.86 million shares worth 7.6 trillion won ($5.5 billion), with gainers outpacing losers 434 to 427. Institutions and foreigners bought a combined 284 billion won, exceedi

LG Group Chairman Koo Kwang-mo will reportedly receive business reports from major affiliates sequentially over the next month, starting with the electronic affiliates on Monday to establish next year’s business plans, according to industry sources, Monday. LG holds strategic meetings in the first half of each year to discuss future strategies. Business meetings in the second half focus on business performance and plans for the following year, with an emphasis on enhancing customer value a

Seoul shares opened higher Monday, tracking gains on Wall Street last week. The benchmark Korea Composite Stock Price Index (Kospi) rose 5.19 points, or 0.2 percent, to 2,599.01 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average gained 0.09 percent to 43,275.91, and the tech-heavy Nasdaq Composite was up 0.63 percent to 18,489.55. In Seoul, large-cap stocks were mixed. Market bellwether Samsung Electronics Co. fell 0.8 percent, leading auto parts maker Hyundai Mobis

The ongoing power struggle at Korea Zinc, the world's largest zinc smelter, looks to be taking an unexpected turn, as the CEO of Trafigura, one of Korea Zinc's key partners and strategic investors, prepares to visit Seoul next month. According to local investment industry sources on Friday, Trafigura CEO Jeremy Weir, accompanied by his successor Richard Holtum -- who will assume the CEO role in January 2025 -- will meet with Korea Zinc Chairman Choi Yun-beom during the visit. Korea Zinc has conf

LG Chem said Thursday that it plans to commercialize an eco-friendly ingredient derived from plant-based oils for cosmetic products, becoming the first to do so. The South Korean chemicals giant is set to develop functional cosmetics using 100 percent bio-based 3-hydroxypropionic acid, a compound produced through the microbial fermentation of plant materials. This marks the first time 3HP will be applied as a cosmetics ingredient. While 3HP is considered as an innovative bio-material with vast p

LG Energy Solution to supply battery modules from its Poland facility for Ford's commercial vans in the UK and EU markets SEOUL, South Korea, Oct. 15, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced it signed supply agreements with Ford Motor Company ("Ford") to power the electrified models of Ford commercial vans in Europe.  Under the contracts, LG Energy Solution is forecasted to supply a total of 109 GWh of batteries to Ford for its electric c

Company to expand into 'circular energy business,' going beyond battery manufacturing LG Energy Solution plans to stand at the center of the entire circular energy ecosystem, unlocking limitless business opportunities The company aims to lead market as a comprehensive energy solution provider, leveraging its accumulated technological prowess and capabilities Four key mid-to-long-term strategies announced, aiming to more than double the revenue by 2028 Building a bala

Local retail investors experienced significant losses from Korean shares in the third quarter while foreign investors fared relatively well amid the Kospi’s bearish trend in the period, market data showed on Thursday. According to the Korea Exchange, the most purchased stock by South Korean retail investors from July to September was Samsung Electronics, the world’s largest memory chipmaker, with net purchases totaling 7.82 trillion won ($5.9 billion). Following Samsung, SK hynix, th

Seoul shares closed lower for the third consecutive day Wednesday as investors sat on the sidelines amid the escalating tension in the Middle East following Iran's massive missile attack against Israel. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 1.22 percent, or 31.58 points, to 2,561.69. Trading volume was moderate at 341.9 million shares worth 9.38 trillion won ($7.1 billion), with losers far outnumbering winners at 705 to 177. F

SEOUL, South Korea, Oct. 1, 2024 /PRNewswire/ -- LG Chem announced today that its Platform Technology R&D team has developed a temperature-responsive Safety Reinforced Layer (SRL), a material designed to suppress thermal runaway. In collaboration with Professor Lee Minah's team from the Department of Battery Engineering at POSTECH, the material was analyzed, while safety verification was conducted in partnership with LG Energy Solution. The research findings were published online i

LG Group Chairman Koo Kwang-mo convened a strategy meeting Wednesday to discuss mid- to long-term management directions with some 40 top executives at LG companies. The meeting, held at LG Inwhawon in Icheon, Gyeonggi Province, began with a discussion on strategies to navigate and respond to the rapidly changing business environment. LG Electronics CEO Cho Joo-wan introduced key examples of the tech giant’s customer-centric management system, which has been a core focus over the past three

Seoul shares ended more than 1 percent lower Wednesday to end their six-day winning streak as investors were disappointed with a new stock index to be launched next week. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.34 percent, or 35.36 points, to 2,569.32. Trading volume was moderate at 441.8 million shares worth 11.4 trillion won (US$8.6 billion), with losers outnumbering winners 516 to 355. Retail investors and institutions bought a