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February 15, 2024
Hyundai Motor fast-tracks US EV plant to 2024
...an initial production capacity of 300,000 EVs annually, scalable to 500,000 units depending on demand. Adjacent to the vehicle assembly plant, a $4.3 billion joint venture with Korean battery maker LG Energy Solution will focus on battery production with an annual production capacity o...
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February 13, 2024
Foreign investors rush to ‘undervalued’ stocks
...(327 billion won). Instead, local investors rushed to buy shares of Naver (229 billion won), Samsung Electro-Mechanics (92 billion won), Hyundai AutoEver (76 billion won), Hybe (71 billion won) and LG Innotek (67 billion won). Meanwhile, the government has vowed full efforts to boost ...
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February 08, 2024
GM chair meets battery partners in 1st Seoul visit
... Motors CEO Mary Barra visited South Korea to meet the automaker’s Korean battery manufacturers -- LG Energy Solution and Samsung SDI -- to strengthen their partnerships further and discuss the global...nsition amid slowing EV growth. According to industry sources, the GM chair on Wed...
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February 08, 2024
Stage X defies skepticism, vows to launch service in H1 next year
...he government has tried to create one since 2010, eventually succeeding on its eighth attempt. In the previous auction in 2018, the country's three major mobile carriers -- SK Telecom, KT Corp. and LG Uplus -- won the same spectrum in the low 200 billion-won range, but they lost the li...
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February 06, 2024
KCC chief reiterates call to abolish handset subsidy ban
... Improvement Act came into effect in October 2014 to keep fierce competition to woo customers with hefty subsidies in check, but it only helped three local telecom giants -- SK Telecom, KT Corp. and LG Uplus -- reduce their marketing costs. Therefore, the government decided to scrap the...
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February 05, 2024
[KH Explains] US Election: calm before the storm for Korean auto, battery makers
...partners. Taking the US-first legislation in stride, Korean companies, namely Hyundai Motor Group, LG Energy Solution, Samsung SDI and SK On, have committed billions of dollars to build manufacturing ...any election pledges end up as empty words.” An official working in the battery se...
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February 02, 2024
Posco’s six chairman candidates unveiled
...s chief strategy officer, where he managed steel, eco-friendly infrastructure and financial operations. The finalists from outside of Posco include: Kwon Young-soo, former vice chairman and CEO of LG Energy Solution, who is recognized for his ability to identify and nurture new busine...
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January 30, 2024
[KH Explains] Private equity firms hunt for health care buyouts
...MBK has invested since 2021. Taking advantage of the growing private equity appetite for health care buyouts, larger companies are selling off their business units at lucrative prices. In October, LG Chem sold its diagnostics business to Glenwood, an alternative investment, in a 150 b...
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January 30, 2024
LG supports AI art program at Guggenheim Museum
LG Group said Monday it supported an art program showcasing three artificial intelligence-integrated artworks of Brooklyn-based artist Stephanie Dinkins at the Solomon R. Guggenheim Museum in New Yor... officials. LG also said the latest exhibition and Dinkins’ new works of ar...
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January 29, 2024
LG Energy Solution hits record earnings on upbeat US sales
Despite the slowdown of electric vehicle sales, LG Energy Solution broke the record in earnings last year, largely driven by a boost in sales in the all-important US market. In its earnings report r...ore than 30 percent. Due to the ongoing slump in metal prices that leads to lower batt...
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January 26, 2024
LG Energy Solution invests in US lithium-metal battery firm
LG Energy Solution on Thursday announced a strategic equity investment in Sion Power, an Arizona-based battery technology developer, in a bid to take the lead in next-generation lithium-metal battery... to reinforce our position as a leader in advancing next-generation battery technologie...
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January 26, 2024
LG Electronics reports another sales record
LG Electronics reported another year of record sales in 2023, driven by upbeat sales of home appliances and automotive parts and solutions, the Korean tech giant said in its earnings conference Thurs...chieved record-breaking sales figures. Despite the global economic downturn and decrea...
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January 26, 2024
[From the Scene] New Macan signals true beginning of Porsche EV
...ickel, 10 percent cobalt and 10 percent manganese, boasting high energy density, favorable rate capability and relatively low product cost. The Taycan has used battery cells manufactured by Korea's LG Energy Solution. Since the original Macan’s launch in 2014, Porsche has sold some 8...
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January 25, 2024
LG Display raises OLED sales target
LG Display said Wednesday it would focus investment on OLED displays this year, seeking to continue growth momentum after it posted the first profit in seven quarters in the September-December period...r. … We have raised our internal OLED panel shipment goal for this year by 20 percent ...
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January 24, 2024
SK becomes No. 2 in market cap
...Group’s market cap surged to 171.87 trillion won ($128.8 billion) as of Friday’s close, surpassing LG Group’s 167.77 trillion won on the nation’s main bourse Kospi. The figures included the value of p...on for years, SK and LG have competed for second. SK fell back to the ...
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January 24, 2024
Korean banks ready to step up their game in India
...e ventured out. Korean tech giant Samsung Electronics and top automaker Hyundai Motor operate factories in the southeastern coastal city of Chennai, known as "Detroit of India." Korean tech behemoth LG Electronics operates a plant in Pune as well. Another major lender Woori Bank also p...
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January 23, 2024
One in 10 Korean nationals work in large companies
...e, up by 847 in 2022 and by over 2,200 in each of the previous four years. Among the other large corporate juggernauts in Korea, Kia's total number of employees as of June 2023 was at 35,438; while LG Electronics had 34,198; SK hynix had 32,217; Korean Air had 17,839; LG Chem...
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January 23, 2024
Korean EV, battery makers seek leniency on IRA rules
...r the company to follow the policy target set by the US government, despite its all-out efforts, if it mandates immediate change regardless of the current state of the industry. Like Hyundai Motor, LG Energy Solution suggested low-value battery minerals such as cobalt, zirconium, tungs...
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January 21, 2024
LG Innotek to suspend production at Pyeongtaek motor plant
LG Innotek, the electronic component manufacturing unit of LG Group, will suspend the production of its vehicle motor plant in Pyeongtaek, Gyeonggi Province, later this year to relocate facilities to other sites at home and abroad, according to industry sources Friday. With the...
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January 18, 2024
HD Hyundai CEO talks global decarbonization efforts at Davos
...emissions. It also marks Chung's second appearance at the forum, which he attended for the first time in 2023. Chairpersons from other Korean conglomerates, including Samsung, SK, Hyundai Motor and LG, are not attending the event this year. A highlight of the visit was Chung's bilater...