LG group on Friday has kicked off promotional discounts across its affiliated companies in commemoration of its professional baseball team winning its first championship in 29 years, cutting the price in various forms related to the magic number 29. LG Twins, an affiliate of the LG Group, won Game 5 of the Korean Series against KT Wiz on Monday to clinch its first title since 1994. LG Electronics, the flagship corporation of the group, will be giving 29 percent discounts starting 10 a.m., next T

South Korean stocks opened higher Monday as the country launched a temporary ban on stock short selling to crack down on illegal market practices by global investment banks. The benchmark Korea Composite Stock Price Index climbed 48.16 points, or 2.03 percent, to 2,416.50 in the first 15 minutes of trading. On Sunday, the Financial Services Commission announced the ban on stock short selling, effective starting Monday through the end of June 2024, citing concerns about growing market volatility

Revenue increases 7.5 percent, operating profit up 40.1 percent year on year, primarily due to stable increase of production volume at GM JV (Ultium Cells) plant in Ohio, as well as product mix improvement The company to focus on reinforcing product competitiveness across all segments To proactively respond to customer demands, the Arizona battery facility to produce 46-Series cylindrical batteries instead of the originally planned 2170 cells SEOUL, South Korea, Oct. 25, 2023 /PRNewswi

South Korean stocks opened almost flat Wednesday as investors awaited the release of major corporate earnings reports. The benchmark Korea Composite Stock Price Index lost 0.69 points, or 0.03 percent, to 2,382.82 in the first 15 minutes of trading. Overnight, Wall Street ended higher as investors' expectations grew ahead of the release of tech bluechips' earnings reports. The Dow Jones Industrial Average gained 0.62 percent, the tech-heavy Nasdaq composite rose 0.93 percent and the S&

Prolific actor Lee Sun-kyun, who has recently come under police investigation for suspected drug use, is dropping out from his latest project, “No Way Out,” a mystery thriller series that began shooting this month. According to the entertainment industry, the production company notified its actors and staff that shooting would be postponed for two weeks to reorganize the cast. Following the police announcement on Friday concerning the investigation into Lee, staff of “No Way Ou

South Korean stocks got off to a strong start Tuesday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 19.23 points, or 0.79 percent, to 2,455.47 in the first 15 minutes of trading. U.S. stocks closed higher as investors bet on big tech, with the Dow Jones Industrial Average advancing 0.93 percent and the Nasdaq Composite rising 1.2 percent. In Seoul, tech and battery shares led the bullish opening. Top-cap Samsung Electronics added 0.74 percent and i

Foreign investors have dumped South Korean stocks for 15 consecutive trading days, the longest streak logged since 2020, according to the bourse operator Sunday. Foreigners offloaded a net 2.5 trillion won ($1.8 billion) on the benchmark Korea Composite Stock Price Index from Sept. 18 to last Friday, according to the Korea Exchange. Previously, the longest sell-off streak in the Kospi market recorded by foreigners was 30 consecutive trading days from March 5 to April 16 in 2020. During the 15-da

Seoul shares opened higher Tuesday, tracking gains on Wall Street, after Federal Reserve officials made dovish comments on rates, with investors assessing uncertainties over the Israel-Palestine conflict. The benchmark Korea Composite Stock Price Index rose 33.18 points, or 1.38 percent, to 2,441.91 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.6 percent to 33,604,65, and the tech-heavy NASDAQ Composite gained 0.4 percent to 13,484.24. Traders have expect

South Korean stocks started higher Friday as US economic data cemented bets the Federal Reserve will keep its key interest rate unchanged next week. The benchmark Korea Composite Stock Price Index rose 6.78 points, or 0.26 percent, to 2,579.67 in the first 15 minutes of trading. All three US stock indexes rallied Thursday (US time) as strong economic data, including retail sales and producer prices, fueled expectations over a pause in the Fed's rate hike march. Also, the US consumer price i

Seoul shares opened lower Friday, tracking tech losses on Wall Street, amid concerns over China's ban on Apple Inc.'s use. The benchmark Korea Composite Stock Price Index fell 0.07 point to 2,548.19 in the first 15 minutes of trading. China plans to expand its ban on the use of iPhones in government agencies and state-owned companies. The move is expected to deal a blow to global big tech companies that heavily rely on China, analysts said. In Seoul, tech and auto stocks were the lead

LG Uplus Corp., South Korea's No. 3 mobile carrier, said Tuesday its second-quarter net profit rose nearly 32 percent from a year earlier, driven by its robust wireless business. Its net income amounted to 213.3 billion won ($163.3 million) in the April-June period, up 31.7 percent from the year-ago period. Operating profit for the April-June period was 288 billion won, up 15.9 percent from a year ago, the company said in a regulatory filing. Revenue rose 1.3 percent to 3.42 trillion won. T

LGES posts quarterly revenue of KRW 8.774 trillion, operating profit of KRW 461 billion in the second quarter of 2023 The company records strong first half-year performance by strengthening competitiveness amid growing EV demands in the U.S. market LGES aims for over mid-30 percent annual revenue growth despite market uncertainties, with solid product competitiveness and diverse customer portfolio SEOUL, South Korea, July 27, 2023 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373

The new battery cell JV will be located in Bryan County, Savannah, Georgia where Hyundai Motor Group Metaplant America is currently being built Total investment amount of over USD 4.3 billion; LGES and HMG to take a 50 percent stake respectively JV's battery production aimed to start at the end of 2025 with an annual production capacity of 30 GWh, capable of supporting the production of 300,000 EVs Building the second battery manufacturing JV, LGES and Hyundai Motor Group aim

- Will expand sales portion in battery materials, sustainability business and innovative new drugs - Aims to accelerate in reaching net zero by 2050 by proactively building an integrated low-carbon management system SEOUL, South Korea, May 16, 2023 /PRNewswire/ -- LG Chem today announced its business strategy to leap up to become a top global battery materials company and its plans for its three new growth engines by 2030. LG Chem CEO Shin Hak-cheol said in a keynote speech at the Bof

LEXINGTON, Mass., May 3, 2023 /PRNewswire/ -- L&F Co., Ltd. (L&F) of Korea and CAMX Power LLC (CAMX) of Lexington, Massachusetts, USA announce that following LG Energy Solution Ltd. and Samsung SDI of Korea, L&F has obtained a license for the very first time as a Korea based cathode materials company under the intellectual property of CAMX relating to the GEMX® platform of nickel based high-energy high-power cathode materials for use in lithium-ion batteries especially for elec