17 stories mentioning KRX:066570Updated 16h ago
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LG Electronics (KRX:066570) posted a 11% year-over-year increase in net income attributable to shareholders of the parent company for the second quarter to 668 billion won from 604.7 billion won.Sales increased 15% to 23.827 trillion won for the three months ended June 30 from 20.735 trillion won, according to a bourse filing on Thursday.
LG Electronics (KRX:066570) posted a record operating profit for the second quarter, soaring 147% year on year, as sales remained strong amid the popularity of artificial intelligence-related technologiesOperating income surged to 1.579 trillion Korean won from 639.4 billion won in the prior year.Net income attributable to shareholders rose 11% to 668 billion won from 604.7 billion won a year earlier.Revenue rose 15% year-on-year to 23.8 trillion won from 20.7 trillion won.B2B revenue, which accounted for 36% of the Seoul-based electronics company's entire revenue, rose 5% year on year to 6.5 trillion won. The subscription business' revenue also rose 5% from a year earlier to 660 billion won.The company said there is an acceleration in new business areas, especially those related to robotics and AI data center cooling solutions, particularly the eco solution, which recorded 2.73 trillion won in revenue due to an expansion in its air conditioner sales.Revenue under the home appliance segment reached 7.08 trillion won due to higher premium TV sales, while that of the media entertainment segment was 5.11 trillion won. The group's vehicle solution company posted revenue of 3.03 trillion won.LG Electronics declared an interim cash dividend of 500 won per common share for the period, which will be paid out on Aug. 28 to shareholders on the record by Aug. 13.
LG Electronics (KRX:066570) concluded a 100 billion won share buyback, repurchasing 588,589 common shares and 141,840 preferred shares, according to Korea Stock Exchange filings on Wednesday.Following the buyback, part of a shareholder value enhancement program to return 200 billion won to shareholders over two years, the company has terminated its treasury share trust agreement with NH Investment & Securities.The repurchased shares will be cancelled before the year-end.
LG Electronics (KRX:066570) has obtained an NVIDIA certification for its 600kW Coolant Distribution Unit (CDU) after passing technical evaluation criteria for AI Factory standardization.LG plans to secure NVIDIA certifications for its entire large-capacity CDU lineup (1MW, 2.5MW, and 4MW models) while expanding global data center cooling projects across North America and Asia, according to a statement on Monday.LG offers a Chip-to-Chiller portfolio spanning chillers, CDUs, and cold plates, with the certified unit achieving ±0.25°C temperature control precision and integrating virtual sensor technology for real-time monitoring.
South Korean shares closed lower on Wednesday after Iran's Parliament Speaker Mohammad Bagher Ghalibaf said Tehran's nuclear rights and red lines were non-negotiable and that it would not go ahead with negotiations with the U.S. until commitments under their agreement were fulfilled.Ghalibaf added that Iran's nuclear program remained within the framework of the Nuclear Non-Proliferation Treaty (NPT) and under the supervision of the International Atomic Energy Agency (IAEA).The benchmark Korea Composite Stock Price Index, or Kospi, fell by 2%, or 173.07 points, to close at 8,303.41. The Kosdaq, rose by 1.4%, or 13.17 points, to end at 929.35.On the corporate front, LG Electronics (KRX:066570) established a robotics business center, which will focus on future business based on physical AI, the electronics products maker said in a Wednesday release.The new facility aims to integrate core capabilities required for commercialization, from business development to supply chain and manufacturing operations, by using physical AI. The company plans to operate the newly established facility as an independent business unit with integrated business development, sales, and operations functions, the release said.Shares of LG Electronics fell nearly 5% at market close.In other news, HL D&I Halla (KRX:014790) secured a construction order for Section 1 of the Jecheon-Yeongwol Expressway from the Korea Expressway Corp., according to a Wednesday filing with the Korea Exchange.The contract, valued at 155.1 billion won, is valid till Apr. 18, 2032, the filing said.Shares of HL D&I Halla jumped over 8% at market close.
LG Electronics (KRX:066570) established a robotics business center, which will focus on future business based on physical AI, the electronics products maker said in a Tuesday release.The new facility aims to integrate core capabilities required for commercialization, from business development to supply chain and manufacturing operations, by using physical AI. The company plans to operate the newly established facility as an independent business unit with integrated business development, sales, and operations functions, the release said.Shares of LG Electronics fell nearly 5% in recent trade.
S&P Global Ratings has upgraded LG Electronics' (KRX:066570) long-term issuer and issue credit ratings to BBB+ from BBB, according to a recent release.The group will lessen its debt and boost its financial base through the growth in home appliances and solid gains from subsidiary LG Display, S&P said.The company will see better profitability over the next one to two years as LG Display transitions toward high-end OLED panels, the rating agency said.The company has a robust lineup among premium products in its home appliance solution division, diversified services within its subscription segment, and rising penetration in its higher-margin business to business (B2B) division, S&P said.LG Display will also further develop through an enhanced product mix, according to S&P.The outlook is stable, stemming from S&P's belief that the company's core business competitiveness will anchor credit strength, yield solid free cash flow, and lessen debt.Notable shifts in the company's debt-to-EBITDA ratio driven by its TV or home appliances businesses or market position across core segments could lead to future rating actions.
NainTech (KOSDAQ:267320) secured a display manufacturing equipment supply contract from LG Electronics (KRX:066570), according to a Tuesday filing with the Korea Exchange.The contract, valued at 25.4 billion won, is valid till Dec. 31, 2027.Shares of NainTech, which develops equipment and machinery for motor vehicles, plant automation, and gauges for inspection and automation machinery, rose more than 2% at market close, while those of LG Electronics added over 3%.
South Korean stocks climbed to a new high on Monday, buoyed by strong gains in semiconductor firms and AI-related shares. Shares of major market movers Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Electronics (KRX:066570) added over 10%, more than 1%, and nearly 30%, respectively, at market close.The Korea Composite Stock Price Index or Kospi rose 312.23 points, or 3.7%, to end at 8,788.38. The Kosdaq decreased by 24.77 points, or 2.3%, to close at 1,050.03.In economic news, South Korea recorded a trade surplus of $26.9 billion in May, a new all-time high, and marking the third straight month of more than $20 billion in trade surplus, the Ministry of Trade, Industry and Energy said in a Monday release.It came as exports increased 53.2% to $87.8 billion from the year-ago period, the sharpest pace of growth since 1984. Imports rose 20.8% to $60.8 billion.Semiconductor exports surged 169.4% to a record $37.16 billion, while non-semiconductor exports increased by 16%. Rising memory chip prices amid increased capital spending by major U.S. technology companies pushed chip exports higher.In corporate news, Hanmi Science (KRX:008930) signed a technology licensing agreement for Sonefpeglutide (HM15912), a short bowel syndrome drug, with Eli Lilly and Co., according to a Monday filing with the Korea Exchange.The technology licensing agreement is worth up to $1.26 billion, including a $75 million upfront payment and up to $1.185 billion in development, regulatory, and commercial milestones, along with royalties based on future sales.Shares of the company rose more than 4% at market close.
South Korean stocks opened at a new high on Monday, led by surging technology shares despite uncertainty around the negotiations between the US and Iran.The benchmark Korea Composite Stock Price Index, or Kospi, rose 0.1%, or 9.52 points, to open at 8,485.67. The Kosdaq decreased 0.2%, or 2.03 points, to open at 1,072.77.Major market movers Samsung Electronics (KRX:005930) and LG Electronics (KRX:066570) gained nearly 7% and over 25% in early morning trade, respectively.Oil prices jumped over 2% on Monday after Israel ordered troops to push deeper into Lebanon, fueling concerns over a broader conflict in the region and potential disturbances to global energy supplies. Brent crude rose 2.1% to $93.05 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 2.5% to $89.53 in early trading.
MediaTek (TPE:2454) unit HFI Innovation has acquired a package of patents from LG Electronics (KRX:066570) for NT$1.60 billion, according to a Friday Taiwan Exchange filing.The acquisition is intended for operational use, the chipmaker said.
LG Electronics (KRX:066570) introduced an ultra-low-power display on Thursday, called the LG ePaper Display, according to a same-day release.The product is expected to launch in the domestic market in June, following which it will be introduced across the overseas markets, the release said.The paper-like digital signage uses electronic ink technology to considerably lower power consumption while displaying menus, advertisements, and promotional content. The 32-inch display supports quad high definition (QHD) resolution, features enhanced color reproduction via LG's proprietary algorithm, and offers wide viewing angles, it said.Shares of LG Electronics fell 4% at market close.
South Korean shares closed sharply higher on Wednesday, with the primary index shooting up to close at a record high.The rally was led by strong gains in semiconductor stocks and investor optimism for a possible peace agreement between the US and Iran after US President Donald Trump halted the military operation Project Freedom in the Strait of Hormuz.The Korea Composite Stock Price Index or Kospi increased 447.57 points, or 6.5%, to end at 7,384.56. The Kosdaq fell by 3.57 points, or 0.3%, to close at 1,210.17.Chipmakers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added over 14% and nearly 11%, respectively, at market close.The Korea Exchange activated a five-minute buy-side sidecar on the country's primary stock market on Wednesday morning as investors rushed to purchase securities on hopes that the U.S.-Iran conflict may end in the near future.The Korea Exchange announced the order at 9:06 am after the KOSPI200 Futures added 66.05 points, or 6.28%, to trade at 1,116.55.In economic news, South Korea's inflation climbed 2.6% year on year in April, accelerating from a 2.2% rise in March amid the ongoing conflict in the Middle East, data from the country's Ministry of Data and Statistics showed on Wednesday.The headline print was in accordance with the median estimate of 2.6% in a Bloomberg survey.The increase was driven by higher costs across all categories, with transport gaining the highest at 9.7%.Meanwhile, core inflation, which measures prices of goods excluding food and energy, remained steady at 2.2% in April.In corporate news, Samsung Electronics hit a market valuation of $1 trillion on Wednesday, supported by the strong demand for AI chips, Bloomberg News reported on the same day.The South Korean chipmaker became the second Asian firm after Taiwan Semiconductor Manufacturing (TPE:2330) to hit the $1 trillion mark.Overseas investors appear to be driving the recent rally in the stock, supported by a deal between Interactive Brokers and Samsung Securities (KRX:016360) that allows U.S. investors to directly buy South Korean stocks.The firm's semiconductor wing had posted a record profit in the first quarter, surpassing expectations by a wide margin on strong AI data center demand, with analysts expecting the momentum to continue in the quarters ahead as contract prices keep moving higher amid a scarce supply.In other news, LG Electronics (KRX:066570) secured the top 1% rating in credit rating agency S&P Global's Corporate Sustainability Assessment for the third straight year, the electronics products maker said in a Wednesday release.The company secured the highest score of 77 points in the Home Appliances & Leisure Goods industry group, which covers leisure equipment and products and consumer electronics.Shares of LG Electronics jumped over 8% at market close.
LG Electronics (KRX:066570) secured the top 1% rating in credit rating agency S&P Global's Corporate Sustainability Assessment for the third straight year, the electronics products maker said in a Wednesday release.The company secured the highest score of 77 points in the Home Appliances & Leisure Goods industry group, which covers leisure equipment and products and consumer electronics, the release said.Shares of LG Electronics jumped over 8% in recent trade.
LG Electronics (KRX:066570) launched the StanbyME 2 Max in South Korea, which imposes 4K resolution on a 32-inch display, the electronics products maker said in a Monday release.The new model is about 40% bigger than its predecessor and comes with better picture quality and 11.1.2 channel surround sound. The product is powered by the upgraded α8 AI processor and can incorporate Dolby Vision and Dolby Atmos, the release said.The StanbyME 2 Max also features AI Super Upscaling for enhanced low-resolution content.Shares of LG Electronics rose nearly 1% in recent trade.
LG Electronics (KRX:066570) is using high-efficiency heat pumps to expand its voluntary carbon emissions trading business, the electronics products maker said in a Tuesday release.The process will be used to lower carbon emissions during the product usage phase, the release said.Shares of LG Electronics rose over 4% in recent trade.
