LG Chem reported the highest quarterly profit in the company’s 74-year history in the first quarter of 2021 on the back of advances in petrochemicals and electric vehicle batteries.
LG Chem on Wednesday announced it has expanded production capacity of carbon nanotubes by more than three-fold to 1,700 tons a year to meet the rapidly growing market for electric vehicle batteries.
LG Energy Solution and SK Innovation have agreed to settle a trade secret dispute that has jeopardized SK’s entire battery operation in the United States, confirmed a spokesperson for SK.
SK Innovation could not have independently developed its lithium-ion batteries for electric vehicles (EVs) without misappropriated trade secrets from LG Energy Solution, the U.S. International Trade Commission (ITC) stated in its judgement Thursday.
SK Innovation sent a request to the White House to overturn a ruling that could prohibit the importation of the company’s battery products to the United States for 10 years.
To keep our planet green, LG Chem is putting sustainability at the heart of its business strategy. Last year, LG Chem declared to realize “carbon-neutral growth” through 2050 for the very first time in the Korean chemical industry...
A screen display at Yonhap Infomax headquarters in Jongno District, central Seoul, shows the trajectories of the stock prices of SK Innovation, top, and LG Chem, on Monday.
LG Chem announced in corporate filing Monday that it will issue 1.2 trillion won ($1.1 billion) of bonds to fund its carbon neutral strategy and new growth drivers such as battery materials.
The U.S. International Trade Commission (ITC) on Wednesday ruled in favor of LG Energy Solution against SK Innovation in a battery trade secret dispute, banning SK from importing batteries and components for 10 years.
According to a regulatory filing, Wednesday, LG Chem reported 30 trillion won in annual revenue, a 9.9-percent increase on year, and 2.35 trillion won in operating profit, which represents a 185.1-percent jump from 2019.