SEOUL, June 16 (Korea Bizwire) — South Korean battery maker SK On Co. and steel giant POSCO jointly announced on Wednesday that they had signed a memorandum of understanding to promote comprehensive cooperation in their burgeoning secondary battery business. The two parties plan to unite forces to explore joint projects throughout the entire value chain [...]
SEOUL, Oct. 30 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Friday its shareholders approved the company’s proposal for the spin-off of its battery business. Shares in LG Chem fell 6.14 percent to 611,000 won, underperforming the broader KOSPI’s 2.56 percent decline. The move will pave the way for LG Chem [...]
SEOUL, Sept. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday that it has decided to spin off its battery business in a move to further boost its leading position in the sector amid growing demand for electric vehicle (EV) batteries. The new entity — tentatively called LG Energy Solutions [...]
SEOUL, Sept. 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, will hold a board meeting this week to discuss a spinoff of its battery business, people familiar with the matter said Wednesday. LG Chem could finalize its decision on the issue in an emergency board meeting on Thursday, they said. The [...]