The largest single EV battery manufacturing facility in Europe recognized for running on 100% renewable energy The company's entire global operations to pursue RE100, in addition to reusing and recycling batteries, to counter climate change SEOUL, South Korea, May 4, 2022 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) today announced that its manufacturing facility in Wroclaw, Poland, has won the Electromobility (E-Mobility) Leader 2021 Award for its contributions to z

Police have referred about 30 employees of the battery maker SK Innovation Co. to the prosecution on charges of stealing electric vehicle technology secrets from rival firm LG Energy Solution Ltd., officials said Thursday. They were among about 100 former LG employees, who moved to SK between 2017 and 2019 and sparked a trade secrets dispute between the two companies. LG claimed SK scouted its employees to gain trade secrets on EV batteries after coming late to the market. LG took the case to th

South Korean stocks opened lower Friday amid still ongoing tensions surrounding Ukraine and rising inflation risks. The benchmark Korea Composite Stock Price Index fell 21.6 points, or 0.78 percent, to trade at 2,736.05 points as of 9:15 a.m. Stocks dropped as Russia's attack on the Ukrainian city of Mariupol fueled pessimism about the two country's peace talks. Most large caps traded lower in Seoul. Market bellwether Samsung Electronics lost 0.72 percent, and No. 2 chipmaker SK hynix declined 0

New LG Energy Solution factory for cylindrical batteries to be built with KRW 1.7 trillion investment Construction to begin in the second quarter of 2022, with mass production to start in 2024 with production capacity of 11GWh SEOUL, South Korea, March 24, 2022 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) today announced that the company is investing KRW 1.7 trillion for the construction of a new cylindrical battery factory in Queen Creek, Arizona. The newly announced plant wi

INCHEON -- When the SSG Landers signed former major league infielder Kevin Cron in December, they probably didn't think he'd be hitting below the Mendoza Line about halfway through the preseason. With the start of the regular season less than two weeks away, Cron is batting 3-for-19 (.158) with a home run and three RBIs in seven games in his first spring in the Korea Baseball Organization (KBO). The preseason will wrap up next Tuesday, with the regular season starting on April 2. Cron

Foreign ownership of South Korean stocks fell to a six-year low, bourse data showed Sunday, as overseas investors preferred safer assets in the wake of the Ukraine crisis and ahead of a widely expected US rate hike. As of Friday, foreign investors held 666 trillion won (U$538 billion) worth of local stocks on the main KOSPI, accounting for 31.86 percent of the entire 2,091 trillion-won market capitalization, according to the data compiled by the Korea Exchange (KRX). The foreign ownership shrank

LEXINGTON, Mass., March 7, 2022 /PRNewswire/ -- LG Energy Solution Ltd. (LGES; KRX: 373220) and CAMX Power LLC (CAMX) announce that LGES has obtained a license 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 electric vehicles (EVs). The GEMX platform is based on fundamental inventions of CAMX for which key patents have been granted globally i

BARCELONA, Spain -- The South Korean Minister of Science and ICT Lim Hye-sook said the government signed a memorandum of understanding with GSMA, host of the Mobile World Congress 2022, to support mutual interests in the metaverse and its ecosystem development. Under the agreement, the ministry will share information in regard to the progress of the metaverse ecosystem in Korea with GSMA. In return, GSMA is set to present Korea to its members and developers around the world so that Korean busin

BARCELONA, Spain -- LG U+ will export virtual reality content to Zain Group, a mobile carrier in the Middle East with more than 50 million users, in its effort to take initiative in the burgeoning global XR market. During a press conference held at the Mobile World Congress 2022 in Barcelona on Wednesday, local time, LG U+ CEO Hwang Hyun-sik said the South Korean telco will aim to sell content to Zain Group, Oman’s No. 1 mobile carrier Omantel and Malaysia’s No. 3 player Celcom. &l

South Korean stocks advanced for a third consecutive session Wednesday amid continued military tensions in Ukraine and hopes a full-scale war may be avoided. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) edged up 4.34 points, or 0.16 percent, to close at 2,703.52 points. Trading volume was moderate at about 519 million shares worth some 10.8 trillion won ($8.9 billion), with gainers outnumbering losers 645 to 228. Foreigners offloaded a net

South Korean stocks opened lower Wednesday amid continued Ukraine tensions. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 4.98 points, or 0.18 percent, to 2,694.2 points in the first 15 minutes of trading. The key stock index traded bearish as investors remained cautious amid the Ukraine tensions. Overnight, the tech-heavy Nasdaq composite lost 1.59 percent and the Dow Jones Industrial Average declined 1.76 percent, largely on concerns that the war in Ukraine may push up the

One of the world‘s largest tech events, Mobile World Congress, is returning to Barcelona, and South Korea’s telecommunications firms this week are poised to showcase their future technologies for the next decade to come. Extending their network and connected intelligence technology with respective industrial partners, SK Telecom is set to boast underlying technology to enable flying taxis, while KT brings disinfection robots and LG Uplus presents Korean media contents that run on e

South Korean stocks opened steeply lower Thursday, tracking overnight plunges on Wall Street that stemmed from rising tensions in Ukraine. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 28.85 points, or 1.06 percent, to 2,690.08 points as of 9:15 a.m. Overnight, the tech-heavy Nasdaq composite tumbled 2.57 percent and the Dow Jones Industrial Average declined 1.38 percent as Ukraine declared a state of emergency and Washington said a Russian invasion of Ukraine remains imminen

LG Energy Solution acquires 100% share of NEC Energy Solutions, a non-automotive lithium-ion battery and system integration business Purchase strengthens LGES's ability to deliver fully integrated energy storage systems including installation, maintenance and operations support to enhance product performance SEOUL, South Korea, Feb. 17, 2022 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) announced Tuesday that it has completed the acquisition of NEC Energy Solutions, a

Foreign investors continued to purchase more shares than they sold in South Korea's stock markets for the third straight month in January, central bank data showed Thursday. Foreigners picked up a net $1.81 billion worth of local stocks last month, according to the data provided by the Bank of Korea. The amount, however, was halved from their net purchases in December of $3.69 billion, the data showed. Foreigners' net stock purchases here came despite the increased risk-averse tendency amid expe