The ongoing power struggle at Korea Zinc, the world's largest zinc smelter, looks to be taking an unexpected turn, as the CEO of Trafigura, one of Korea Zinc's key partners and strategic investors, prepares to visit Seoul next month. According to local investment industry sources on Friday, Trafigura CEO Jeremy Weir, accompanied by his successor Richard Holtum -- who will assume the CEO role in January 2025 -- will meet with Korea Zinc Chairman Choi Yun-beom during the visit. Korea Zinc has conf

LG Chem said Thursday that it plans to commercialize an eco-friendly ingredient derived from plant-based oils for cosmetic products, becoming the first to do so. The South Korean chemicals giant is set to develop functional cosmetics using 100 percent bio-based 3-hydroxypropionic acid, a compound produced through the microbial fermentation of plant materials. This marks the first time 3HP will be applied as a cosmetics ingredient. While 3HP is considered as an innovative bio-material with vast p

LG Energy Solution to supply battery modules from its Poland facility for Ford's commercial vans in the UK and EU markets SEOUL, South Korea, Oct. 15, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced it signed supply agreements with Ford Motor Company ("Ford") to power the electrified models of Ford commercial vans in Europe.  Under the contracts, LG Energy Solution is forecasted to supply a total of 109 GWh of batteries to Ford for its electric c

Company to expand into 'circular energy business,' going beyond battery manufacturing LG Energy Solution plans to stand at the center of the entire circular energy ecosystem, unlocking limitless business opportunities The company aims to lead market as a comprehensive energy solution provider, leveraging its accumulated technological prowess and capabilities Four key mid-to-long-term strategies announced, aiming to more than double the revenue by 2028 Building a bala

Local retail investors experienced significant losses from Korean shares in the third quarter while foreign investors fared relatively well amid the Kospi’s bearish trend in the period, market data showed on Thursday. According to the Korea Exchange, the most purchased stock by South Korean retail investors from July to September was Samsung Electronics, the world’s largest memory chipmaker, with net purchases totaling 7.82 trillion won ($5.9 billion). Following Samsung, SK hynix, th

Seoul shares closed lower for the third consecutive day Wednesday as investors sat on the sidelines amid the escalating tension in the Middle East following Iran's massive missile attack against Israel. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 1.22 percent, or 31.58 points, to 2,561.69. Trading volume was moderate at 341.9 million shares worth 9.38 trillion won ($7.1 billion), with losers far outnumbering winners at 705 to 177. F

SEOUL, South Korea, Oct. 1, 2024 /PRNewswire/ -- LG Chem announced today that its Platform Technology R&D team has developed a temperature-responsive Safety Reinforced Layer (SRL), a material designed to suppress thermal runaway. In collaboration with Professor Lee Minah's team from the Department of Battery Engineering at POSTECH, the material was analyzed, while safety verification was conducted in partnership with LG Energy Solution. The research findings were published online i

LG Group Chairman Koo Kwang-mo convened a strategy meeting Wednesday to discuss mid- to long-term management directions with some 40 top executives at LG companies. The meeting, held at LG Inwhawon in Icheon, Gyeonggi Province, began with a discussion on strategies to navigate and respond to the rapidly changing business environment. LG Electronics CEO Cho Joo-wan introduced key examples of the tech giant’s customer-centric management system, which has been a core focus over the past three

Seoul shares ended more than 1 percent lower Wednesday to end their six-day winning streak as investors were disappointed with a new stock index to be launched next week. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.34 percent, or 35.36 points, to 2,569.32. Trading volume was moderate at 441.8 million shares worth 11.4 trillion won (US$8.6 billion), with losers outnumbering winners 516 to 355. Retail investors and institutions bought a

Company to accelerate expansion into battery management total solution field with debut of dedicated brand, 'B.around' Slogan for the brand, "Be Around Your Side," represents a reinforced commitment to staying close to customers, constantly monitoring various battery conditions to guarantee safer, more convenient user experiences New brand to offer comprehensive BMS solutions ranging from advanced softwares to SDV platform-optimized services SEOUL, South Korea, Sept. 25,

Seoul shares closed higher Tuesday to extend their winning streak to a sixth day, driven by hopes for further US rate cuts and China's stimulus plan. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 1.14 percent, or 29.67 points, to 2,631.68. Trading volume was slim at 345.9 million shares worth 10.1 trillion won ($7.6 billion), with gainers surpassing decliners 605 to 264. Institutions bought 561.6 billion won worth of local shares to off

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street amid hopes for more US rate cuts. The benchmark Korea Composite Stock Price Index rose 0.58 percent, or 15.18 points, to 2,617.19 in the first 15 minutes of trading. Overnight, major US indexes gained ground as several Federal Reserve policymakers voiced support for additional rate cuts in the future. Last week, the Fed cut its lending rate by half a percentage point to a range of 4.75 percent to 5 percent and pledged fu

Seoul shares opened lower Thursday tracking losses on Wall Street after the Federal Reserve cut interest rates by a half percentage point, the first rate cut in more than four years. The benchmark Korea Composite Stock Price Index fell 0.35 percent, or 8.90 points, to 2,565.51 in the first 15 minutes of trading. The Fed cut its overnight lending rate to a range of 4.75 percent to 5 percent in an aggressive start to a monetary-easing cycle in the world's biggest economy. The US central bank

Seoul shares opened higher Thursday, tracking tech-led gains on Wall Street, as investors expect the Federal Reserve's rate cut after the release of US inflation data. The benchmark Korea Composite Stock Price Index (Kospi) rose 1.2 percent, or 30.17 points, to 2,543.54 in the first 15 minutes of trading. In August, the US core consumer price index, excluding volatile food and energy costs, rose 0.3 percent from July. The inflation data dashed hopes for a big cut by the Fed next week but ma

Seoul shares ended lower Monday to extend their losing streak to a fifth day amid concerns that the US Federal Reserve may not cut its rate by a large margin. The Korean won traded sharply lower against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.35 points, or 0.33 percent, to close at 2,535.93. Trading volume was moderate at 262.46 million shares worth 7.3 trillion won ($5.4 billion), with gainers outnumbering losers 502 to 371. Foreigners sold a net 540 billion won wo