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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...
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January 18, 2024
Korea’s arms exports to Poland hit W1.5t in 2023
...r the largest proportion of South Korea’s exports to Poland. In 2023, South Korea’s exports of secondary battery materials to Poland reached $2.2 billion, up 2.5 percent from a year ago. In Poland, LG Energy Solution has a battery cell factory, where the company uses the secondary ba...
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January 16, 2024
NPS ups stake in Samsung Electro-Mechanics, sells Kakao in Q4
...on won stake in 21 locally listed companies. Among the 21, its largest holdings were in Samsung Electronics (33.75 trillion won, 7.68 percent), followed by SK hynix (7.67 trillion won, 7.9 percent), LG Energy Solution (5.55 trillion won, 5.78 percent), Naver (3.52 trillion won, 9.34 per...
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January 16, 2024
[CES 2024] LG Innotek’s CES booth attracts more than 60,000 visitors this year
LG Innotek, the electronic component manufacturing unit under LG Group, said Monday that it had attracted more than 60,000 visitors to its exhibition booth during the CES 2024 tech show last week, a threefold increase from a year before. “At this year’s CES, LG Inno...
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January 16, 2024
LG Chem CEO named business council member of Davos forum
LG Chem Vice Chairman and CEO Shin Hak-cheol has been named a member of the International Business Council, part of the World Economic Forum’s annual meeting in Davos, Switzerland, the Korean chemica... stakeholders around the world, build new relationships of trust and prepare for the f...
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January 15, 2024
Samsung SDI outpaces Korean rivals in US tax credits
...using its batteries, including an Audi Q5 hybrid, had qualified for tax credits. In the meantime, LG Solution reportedly saw the steepest drop in EVs using its batteries, from last year’s 16 models t...on of its joint venture plants with GM in the US. “Bolt cars, equipped with batte...
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January 12, 2024
[CES 2024] Doosan chief highlights business synergy with AI
... an uncrewed and electric articulated tractor powered by AI. Park also observed the latest trends in autonomous driving and vehicle electronics as he visited relevant booths of Samsung Electronics, LG Electronics, Mercedes-Benz and Mobileye. “It’s the first large exhibition to check...
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January 12, 2024
[CES 2024] SK On chief hints IPO plan on track
...icial intelligence, a keyword for this year’s CES, Chey said the company is working on AI applications for the battery manufacturing process. He visited the exhibition booths of Hyundai Motor Group, LG, Samsung, Doosan Group, Panasonic and John Deere, a US-based heavy equipment company...