LG CHEM’S NET PROFIT INCREASED TO $1.2 BILLION IN Q1

Highlights –

• LG Chem’s net profit increased to $1.2 billion in Q1.
• In Q1 the company’s operating profit jumped 584 percent on-year to 1.4 trillion won.
• LG Energy Solution Ltd. reported 4.2 trillion won in sales and 341.2 b...

LG ENERGY & GM TO BUILD EV BATTERY FACTORY IN THE U.S

Highlights –

• LG Energy & GM to build EV battery factory in the U.S.
• LG Energy Solution will spend 1.06 trillion won for building the factory.
• The total investment for the new EV factory is expected to be worth 2.7 trillion won.

LG ENERGY & SK INNOVATION’S STOCKS GAINED AFTER EV BATTERY SETTLEMENT

Highlights –

• LG Energy & SK Innovation’s stocks gained after EV battery settlement.
• SK Innovation agreed to pay $1.78 billion to LG Energy under the settlement.
• LG Chem stocks gained 0.62 percent to 817,000 won on Monday tra...

S. KOREAN STOCKS ENDED UP OVER INCREASE IN VALUATION

Highlights –

• S. Korean stocks ended up over increase in valuation.
• KOSPI ended up 3.71 points or 0.12 points.
• KOSDAQ market ended at the highest in nearly 21 years.
• Samsung Electronics stocks lost 0.48 percent up 83,200 won...

SK TO SETTLE OVER EV BATTERY DISPUTE WITH LG BY PAYING $1.78 BILLION

Highlights –

• SK to settle over EV battery dispute with LG by paying $1.78 billion.
• The U.S. ITC sided with LG in a trade secret case and had issued a 10-year import ban on SK.
• The settlement now averts the import ban that was initiall...

S. KOREA’S 3 EV BATTERY MAKERS SAW GLOBAL MARKET SHARES FALL

Highlights –

• S. Korea’s 3 EV battery makers saw global market shares fall.
• LG Energy Solution Ltd. global market share slipped to 19.2 percent.
• SK Innovation Co. global market share fell to 5 percent.
• Samsung SDI Co.&...

SK INNOVATION ACCUSED OF STEALING TRADE SECRETS OF LG’S EV BATTERIES

Highlights –

• SK innovation accused of stealing trade secrets of LG’s EV batteries.
• The U.S ITC said that SK Innovation destroyed evidence on the same.
• The U.S commission had ruled in favor of LG Energy Solution in a trade secret...

POSCO CHEMICAL SOLD SHARES TO RAISE $1.1 BILLION FOR RECHARGEABLE BATTERY BUSINESS

Highlights –

• POSCO Chemical sold shares to raise $1.1 billion for rechargeable battery business.
• POSCO Chemical Co. sold 16.47 million shares at 77,300 won.
• The new shares are said to be listed on the Seoul bourse on Feb. 3.

KAKAO PAGE IPO MARKET DEADLINE TO BE PUSHED BACK FURTHER

• The IPO entry timing of Kakao Page, an online content affiliate of mobile IT parent company Kakao, is expected to be pushed down further to sometime around late 2021 or even pushed to 2022.
• The entertainment company, which delivers online cartoons, web novels, films and books, ...

TESLA MULLING OVER STAKE IN LG TO MOBILIZE BATTERY SUPPLY FOR EV’S

• Tesla is looking to gain a chunk of LG Energy Solution, soon to be separated by LG Chem, to procure a stable supply of batteries as told by reliable sources.
• Tesla is thinking proactively to acquire a stake in LG Energy Solution.

Specifically, Tesla is said to...

LG CHEM BATTERY PROJECT TO COIN OFFSHOOT LG ENERGY SOLUTION

• LG Chem said Thursday it had approved the split-up off its globally leading battery business to establish a wholly owned battery subsidiary and ramp up investments through a public listing in the future.
• In a board meeting convened Thursday, LG Chem decided to split-up the batt...