SEOUL/WASHINGTON, Oct. 26 (Korea Bizwire) — A U.S. trade panel on Monday postponed its final decision on a high-stakes trade secret case involving two South Korean electric vehicle battery markers — LG Chem Ltd. and SK Innovation Co. — to early December. The delay marks the second of its kind after the U.S. International Trade [...]
SEOUL, Oct. 21 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday its third-quarter net profit more than quadrupled from a year earlier, helped by robust sales of petrochemical and battery products. For the three months ending in September, its net profit soared to 570.39 billion won (US$503 million) from 137.19 [...]
SEOUL, Oct. 20 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, has succeeded in developing a new single-source biodegradable material for the first time in the world. The company announced on Monday that it succeeded in in-house development of the new material by using corn-based glucose and waste glycerol that features a [...]
SEOUL, Oct. 19 (Korea Bizwire) — LG Chem Ltd. and SK Innovation Co. — South Korea’s top two electric vehicle battery makers — appear unlikely to produce a breakthrough in their high-stakes trade secret case over EV batteries ahead of next week’s final ruling in the United States, industry officials said Monday. A key issue [...]
SEOUL, Oct. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Monday its operating profit hit a quarterly record high in the third quarter amid robust sales at the petrochemical and electric vehicle (EV) battery units. In its earnings guidance, the South Korean electric vehicle battery maker estimated its operating profit [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, topped global electric vehicle (EV) battery sales from January to August, a local market research firm said Monday. LG Chem accounted for a 25 percent share of the global EV battery market, in which a total of 64.7 gigawatt-hours (GWh) of [...]
SEOUL, Sept. 27 (Korea Bizwire) — The U.S. International Trade Commission (ITC) has voiced support for LG Chem Ltd.’s call for sanctions on its rival SK Innovation Co. in connection with a legal dispute over battery patents, LG Chem said Sunday. In response to LG Chem’s request for the issuance of an order sanctioning SK [...]
SEOUL, Sept. 18 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Friday that the initial public offering (IPO) of its planned spin-off battery business unit could take about a year as it seeks ways to strengthen its leading position in the market. LG Chem on Thursday decided to spin off its [...]
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 [...]