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April 15, 2024
BMW purchases over $4.7b Korea-made parts in 2023
... even exceeded the Korean branch’s sales revenue, which was around 6.10 trillion won last year. Major contributors to this supply chain include domestic suppliers like Samsung SDI, Samsung Display, LG Group, Hankook Tire and Sebang Global Battery, which are among the more than 30 dome...
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April 11, 2024
Samsung retains No. 1 spot in US home appliance market
...rket share based on sales in the US home appliance market in 2023, followed by its crosstown rival LG Electronics with 18.8 percent, GE Appliances and Whirlpool, which secured 17.6 percent and 15.1 pe...nd they would consider when purchasing home appliances, while 29 percent of local co...
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April 11, 2024
Korean battery firms await grim Q1 earnings amid EV slowdown
Korea's top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- are buckling up for the impact of their first-quarter earnings, which are certainly looking dispirited amid the withering demand for electric vehicles across the globe. According to LG Energy Solut...
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April 05, 2024
LG Electronics expects Q1 profit to drop 11% despite robust sales
LG Electronics said Friday it expected its first-quarter operating earnings to decline more than 10 percent on-year despite the company strong overall sales of its home appliances. LG estimated that its operating profit for the January-March period came in at 1.33 trillion won ...
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April 05, 2024
LG Electronics reports 11% decline in Q1 operating profit on rising costs
LG Electronics said Friday its operating profit for the first quarter of this year fell more than 10 percent from a year earlier due to rising costs and intensifying competition. Its first-quarter o...estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap Ne...
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April 04, 2024
LG Energy Solution breaks ground on $5.5b Arizona battery complex
By Moon Joon-hyun ( mjh@heraldcorp.com ) The Korea Herald
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April 04, 2024
LGES begins construction of battery plant in Arizona
LG Energy Solution (LGES), South Korea's leading battery maker, said Thursday it has begun the construction of its $5.5 billion battery plant in Arizona, with an aim to start operations in 2026. LGE...ch will be used to power millions of EVs," Brian Oh, head of the mobility & IT battery ...
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April 02, 2024
[From the Scene] LG Twin Towers refurbished to better connect with employees
As employees have been experiencing inconveniences when going to see a doctor during their working hours, the LG official said, it is getting ready to open an in-house affiliated clinic in July on the second floor of the West building, alongside pharmacies and banks. By Jie Ye-eun ( yee...
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April 02, 2024
LG Energy Solution rolls out 1st battery cell at Tennessee plant
LG Energy Solution said Tuesday that it has delivered the first battery cells produced at Ultium Cells’ manufacturing plant in Tennessee to its client. The battery products made at the Tennessee sit...The Tennessee plant is the second battery production site of Ultium Cells, a joint ven...
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April 02, 2024
LGES-GM JV begins production at Tennessee battery plant
LG Energy Solution Ltd. (LGES), South Korea's leading battery maker, said Tuesday its joint venture with General Motors Co. began production at their second battery plant in the United States. The first round of battery cells produced at the plant have been delivered to GM for installati...
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March 28, 2024
LG CNS, Indonesia’s Sinar Mas to form joint venture for DX push
South Korean IT solutions provider LG CNS said Thursday it has agreed to establish a joint venture with one of the largest conglomerates in Indonesia to strengthen digital transformation innovation i...further expand our Indonesian DX business area through strategic cooperation with Sinar...
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March 27, 2024
LG vows W100tr Korea investment
LG Group unveiled a plan Wednesday to invest 100 trillion won ($74.3 billion) in South Korea by 2028 as it seeks to secure technological competitiveness and expand new growth engines. The announceme... differentiated customer value and strengthening the fundamental competitiveness of the...
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March 27, 2024
Investment banking veteran takes helm at NH Securities
...der NongHyup Financial Group for the past six years. He embarks on a two-year term that will end in March 2026. Born in 1967, Yoon graduated from Hankuk University of Foreign Studies. Since joining LG Investment & Securities, the predecessor of NH Investment & Securities, in 1993, he h...
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March 27, 2024
LG Group to funnel W100tr into future tech, growth drivers by 2028
LG Group said Wednesday it will invest 100 trillion won ($74.4 billion) in South Korea by 2028 to sharpen future technologies and seek new growth drivers. Unveiled at the group's annual shareholders...rm under any circumstances by strengthening the intrinsic competitiveness of the entire...
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March 26, 2024
Korean banks up ante in Poland amid heightened ties
...ting Sunday. They held discussions with local financial regulators and Korean enterprises operating in Poland. Around 370 Korean companies, including Hanwha Aerospace, Korea Aerospace Industries and LG Energy Solutions, have operations in Poland. During Kim's visit, the Korea Federatio...
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March 26, 2024
LG CNS, Vietnam’s FPT team up for DX innovation
South Korean IT solutions provider LG CNS said Tuesday it has teamed up with Vietnam’s largest IT firm to carry out the group’s digital transformation project there. LG CNS recently signed a memoran...cts. To this end, they decided to form a joint task force and strengthen bu...
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March 26, 2024
LG CEO vows to elevate shareholder benefits
LG Electronics Chief Executive Officer Cho Joo-wan vowed "winning" changes and growth to overcome continuing uncertainties in the business environment at the regular shareholders meeting on Tuesday. ... Elaborating on the company's metaverse and augmented reality business, Cho also highl...
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March 26, 2024
LG Electronics to increase dividend payout ratio
South Korea's major appliances company LG Electronics said Tuesday it will pay out more dividends to its shareholders in a move to increase shareholder value. At an annual shareholders' meeting in Seoul, CEO Cho Joo-wan announced a new shareholder return policy for the next three years, ...
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March 25, 2024
How TV remote button shortcuts for streamers have led to major profit for Samsung, LG
... with Netflix and Disney+ logos to fancier features and operating systems, Samsung Electronics and LG Electronics, the world’s top two TV makers, are pouring resources into content, not just hardware ...tal of about 2,500 streaming channels in 24 countries. In Korea, the service offers...
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March 25, 2024
LX chief calls 2024 'turning point'
...we prepare for the next three years of LX’s leap,” Koo said during this year’s annual shareholders meeting held at the company’s headquarters in Seoul. Koo’s comments come as LX Group spun off from LG Group in 2021 with key businesses, including trading, chip design and interior m...