South Korean stocks fell slightly Thursday to end their three-day winning streak as major shares ended in mixed territory. The local currency fell against the US dollar for the first time in six sessions. The benchmark Korea Composite Stock Price Index lost 1.66 points, or 0.07 percent, to close at 2,480.63. The main index had been rising since Monday. Trade volume was moderate at 440.4 million shares worth 8.1 trillion won ($5.8 billion), with decliners beating gainers 477 to 392. Foreigners du

LG Chem has forged a deal with US energy giant ExxonMobil to secure up to 100,000 metric tons of lithium, a key material for cathodes used in electric vehicle batteries. According to the company, LG Chem Vice Chairman and CEO Shin Hak-cheol and ExxonMobil Senior Vice President Dan Holton signed a memorandum of understanding on Wednesday in Seoul. The deal price was not revealed immediately. Under the agreement, ExxonMobil will supply lithium extracted from its Arkansas brine fields to LG Chem&r

SEOUL, South Korea, Nov. 18, 2024 /PRNewswire/ -- Korea Zinc (KRX:010130), the world's leading non-ferrous metal smelting company, announced today that its precursor technology, a key material for secondary batteries, has been designated as "national core technology" and "national high-tech strategic technology" by the Korean government.  The precursor technology, jointly owned by Korea Zinc and its subsidiary KEMCO, has been recognized for its si

LG Energy Solution's cylindrical batteries to power Bear Robotics' service and logistics robots starting from next year In addition to exclusive battery supply agreement, companies will collaborate on technology Partnership with Bear Robotics demonstrates LG Energy Solution's commitment to expanding into new business areas, and its reputation for outstanding product safety SEOUL, South Korea, Nov. 18, 2024 /PRNewswire/ -- LG Energy Solution today announced that it has signed a Mem

LG Chem is ramping up efforts to strengthen ties with partner companies through a series of new initiatives to promote sustainable development across its supply chain, the firm said Sunday. The South Korean chemicals giant outlined five key strategies under its “Shared Growth Solutions” framework: promoting fair trade, providing financial support, advancing environmental, social and governance practices, enhancing partner capabilities and improving communication. As part of the plan,

LG Energy Solution has reportedly forged a deal with Elon Musk’s SpaceX to supply its cylindrical lithium-ion batteries, further strengthening its partnership with Tesla and advancing its footprint to the global aerospace sector. According to industry sources on Monday, the Korean battery-maker has started developing batteries for the power supply units of SpaceX’s next-generation Starship launch vehicle, the world's first reusable rocket, as soon as next year. This marks SpaceX

Supply agreement will last over five years and total 67GWh. 4695 cells, offering a long range and high safety, will be produced in the U.S. Batteries will power Rivian's R2 model for the North American market. SEOUL, South Korea, Nov. 8, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced that LG Energy Solution Arizona, a fully owned subsidiary of LG Energy Solution, has signed a supply agreement with Rivian, a U.S.-based automotive manufacturer. Under the agreemen

With Donald Trump winning the US presidential election, the “Trump trade” flowed into the South Korean stock market, with shares of defense and shipbuilding firms surging. The value of the local currency against the US dollar dropped to a two-year low. Shares of defense companies jumped, with investors anticipating robust earnings on the potential for escalated geopolitical risks. Furthermore, Korea could face renewed pressure to pay more in its defense cost-sharing arrangement with

The South Korean won dipped to a two-year low against the US dollar Wednesday on increased bets on Republican nominee Donald Trump's victory in the US presidential election. Korean stocks ended lower for the second consecutive day. The local currency was trading at 1,396.2 won against the greenback at 3:30 p.m., down 17.6 won from the previous session, the lowest since November 7, 2022, when the rate closed at 1,401.20. Investors rushed to buy US dollars as Trump's victory heralds an i

LG Chem, South Korea’s leading chemicals company, is ramping up its automotive adhesives business as the rising market for electronic components in vehicles is expected to fuel demand. On Wednesday, LG Chem announced it had secured a deal to supply its heat-dissipating adhesives to a US-based electric vehicle company. The client’s name was not immediately disclosed due to confidentiality reasons. The heat-dissipating adhesive is used to bond battery cells within modules and packs. Wi

LG Energy Solution posts KRW 6.8778 trillion in consolidated revenue and KRW 448.3 billion in operating profit The company secures large-scale supply agreements leveraging new form factors and chemistries The company to effectively address EV/ESS market needs, with the long-term focus on operational efficiency, R&D, and business portfolio expansion SEOUL, South Korea, Oct. 28, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced its third quarter earnings, alo

Seoul shares opened higher Friday following tech gains on Wall Street, although investors remained concerned about a potential slower pace of the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index rose 25.4 points, or 0.98 percent, to 2,606.43 in the first 15 minutes of trading. Overnight, US stocks ended mixed. The Dow Jones Industrial Average fell 0.33 percent to 42,374.36, while the tech-heavy Nasdaq Composite rose 0.76 percent to 18,415.49. In Seoul, tech stock

Seoul shares closed higher Monday to snap their three-day slide as investors scooped oversold stocks after US gains. The Korean won fell to the lowest in over two months against the US dollar. The benchmark Korea Composite Stock Price Index rose 11.1 points, or 0.43 percent, to close at 2,604.92. Trade volume was moderate at 235.86 million shares worth 7.6 trillion won ($5.5 billion), with gainers outpacing losers 434 to 427. Institutions and foreigners bought a combined 284 billion won, exceedi

LG Group Chairman Koo Kwang-mo will reportedly receive business reports from major affiliates sequentially over the next month, starting with the electronic affiliates on Monday to establish next year’s business plans, according to industry sources, Monday. LG holds strategic meetings in the first half of each year to discuss future strategies. Business meetings in the second half focus on business performance and plans for the following year, with an emphasis on enhancing customer value a

Seoul shares opened higher Monday, tracking gains on Wall Street last week. The benchmark Korea Composite Stock Price Index (Kospi) rose 5.19 points, or 0.2 percent, to 2,599.01 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average gained 0.09 percent to 43,275.91, and the tech-heavy Nasdaq Composite was up 0.63 percent to 18,489.55. In Seoul, large-cap stocks were mixed. Market bellwether Samsung Electronics Co. fell 0.8 percent, leading auto parts maker Hyundai Mobis