SEOUL, Feb. 16 (Korea Bizwire) — The U.S International Trade Commission (ITC) has made a preliminary ruling in favor of LG Chem Ltd. over its local rival SK Innovation Co. in their electric vehicle (EV) battery trade secret litigation, officials here said Sunday. “This preliminary ruling means that the ITC accepted LG Chem’s claims and [...]
SEOUL, Feb. 3 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals firm, said Monday that it swung to a loss in the fourth quarter from a year earlier due to one-off costs related to energy storage systems (ESS). The net loss stood at 56.8 billion won (US$47.5 million) in the three months that [...]
SEOUL, Dec. 6 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Friday it will establish a 50:50 joint venture with General Motors to build a battery cell assembly plant in the world’s most important automobile market amid a global push for zero emissions. LG Chem and GM said they will invest [...]
SEOUL, Dec. 5 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday it will invest US$916 million in its U.S. affiliate for a plan to set up an electric vehicle (EV) battery manufacturing joint venture with General Motors in the United States. Earlier in the day, Reuters reported that the two [...]
SEOUL, Nov. 7 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, on Thursday said it has set up a new petrochemical tech center to boost its competitiveness in the sector. LG Chem said its petrochemical tech center in Osan, some 50 kilometers south of Seoul, has been completed after investing 110 billion [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean battery makers such as No. 1 player LG Chem Ltd. are likely to deliver weaker-than-expected earnings for the third quarter due to weak performance in their chemicals and battery business sectors, industry sources said Sunday. LG Chem, the country’s top chemical firm, is expected to have logged [...]
SEOUL, Oct. 7 (Korea Bizwire) — Shares of South Korea’s largest chemical firm, LG Chem, hit a 52-week low during Monday trading on the Seoul bourse following a grim third-quarter earnings outlook and concerns over its energy storage system (ESS), analysts here said Monday. LG Chem plunged 3.21 percent to touch a new 52-week low [...]
SEOUL, Sept. 27 (Korea Bizwire) – LG Chem Ltd. said Friday it has filed additional lawsuits against local rival SK Innovation Co. in the United States over electric vehicle (EV) battery patents, upping the stakes of their month-long legal row. LG Chem said it filed a pair of lawsuits with the U.S. International Trade Commission [...]
SEOUL, Sept. 16 (Korea Bizwire) — The chief executives of LG Chem Ltd. and SK Innovation Co. — two South Korean electric vehicle (EV) battery makers — met Monday to make a breakthrough in their legal battles over EV battery patents but apparently failed to find common ground. LG Chem CEO Shin Hak-cheol met with [...]
SEOUL, Sept. 8 (Korea Bizwire) — Chief executives of LG Chem Ltd. and SK Innovation Co. — two South Korean electric vehicle battery makers — are expected to meet later this month to make a breakthrough in their legal standoff over EV battery patents, industry sources said Saturday. LG Chem CEO Shin Hak-cheol and SK [...]