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KRX:373220

7 stories mentioning KRX:373220Updated 18h ago

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Asia

LG Energy Solution Swings to Loss in Q2, Revenue Jumps; Shares Rise 6%

LG Energy Solution (KRX:373220) swung to a net loss of 328.6 billion won in the second quarter from a net income of 90.6 billion won in the year-ago period, according to a regulatory filing on Thursday.Sales rose 25% to 7.56 trillion won in the June quarter from 6.06 trillion won a year earlier, which included a 241 billion won North America production incentive, and rose quarter-on-quarter, supported by higher energy storage system (ESS) shipments.Shares of LG Energy Solution added nearly 6% in recent trade.

KRX:373220
Asia

Tech Sell-Off Drags South Korean Equities Down, Triggering Circuit Breakers

South Korean stocks plunged on Tuesday as a sharp sell-off in semiconductor heavyweights dragged the benchmark KOSPI down over 10%, triggering market-wide circuit breakers. Shares of major market movers Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Energy Solution (KRX:373220) declined 13%, 15%, and 6%, respectively.The Korea Composite Stock Price Index, or Kospi, decreased by 732.09 points, or 10.8%, to end at 6,023.66. The Kosdaq also declined by 59.01 points, or 7.7%, to close at 705.85.In economic news, South Korea's consumer sentiment improved in July, with the Composite Consumer Sentiment Index rising 0.2 points to 106.8, according to data from the Bank of Korea on Tuesday.The reading compared with the 106.6 level recorded in the previous month. A reading above 100 indicates optimism, while a reading below suggests a deteriorating outlook.Inflation expectations for the upcoming 12 months fell 0.1 percentage point to 2.7%.In corporate news, Daewoo Engineering & Construction (KRX:047040) secured a contract worth 273 billion won from Korea Electric Power (KRX:015760) subsidiary Korea South-East Power for the design, procurement, and technical support for a heat and power plant.Under the contract, Daewoo Engineering & Construction will supply gas and steam turbine generators, heat recovery steam generators, and related equipment for the Songsan combined heat & power plant in Gyeonggi province's Hwaseong, according to a Tuesday filing with the Korea Exchange.The contract runs from July 27, 2026, to Nov. 30, 2029.Shares of Daewoo Engineering & Construction plunged 12% at market close, while those of Korea Electric Power fell 7%.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:015760KRX:047040KRX:373220
Asia

Ultium Cells Begins Production of LFP Battery Cells for ESS at Spring Hill

Ultium Cells, LG Energy Solution's (KRX:373220) joint venture with General Motors, began producing LG Energy Solution's JF2 lithium iron phosphate (LFP) battery cells for energy storage systems (ESS) at its Spring Hill facility, according to a Tuesday release.The LFP cells produced at the Spring Hill plant will be supplied to LG Energy Solution Vertech for U.S.-made ESS that meet domestic content requirements, the battery maker said.Shares of LG Energy Solution fell nearly 1% at market close.

KRX:373220
Asia

South Korean Shares Jump on Bargain-Hunting, Chip Stock Gains

South Korean shares closed sharply higher on Friday as investors took to bargain-hunting after Thursday's 8% plunge in the country's primary index. Major market bigwigs Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Energy Solution (KRX:373220) added 8%, 11%, and over 2%, respectively, at market close.The benchmark Korea Composite Stock Price Index, or Kospi, rose by 5.8%, or 440.25 points, to close at 8,088.34. The Kosdaq, also increased by 0.2%, or 1.69 points, to end at 868.41.In economic news, South Korea's economy is expected to accelerate to 2.6% in 2026 from 1% in 2025, supported by consumption, fiscal stimulus, and strong chip exports, the Organisation for Economic Co-operation and Development (OECD) said in a Thursday release.Inflation is projected to rise to 2.6% in 2026 from 2.1% in 2025, due to higher energy prices before easing to 2.2% in 2027.Strong chip exports supported South Korea's growth despite Middle East-related setbacks, while fiscal and monetary stimulus boosted consumption. The OECD said strengthening the fiscal framework, including further pension reform and rules-based expenditure, will help ensure long-term sustainability, according to the release.On the corporate front, Celltrion (KRX:068270) posted second-quarter sales of 1.3 trillion won, up 35% from 961.5 billion won a year earlier, according to a Friday filing with the Korea Exchange.The South Korean biopharmaceutical company's operating income jumped 77% year over year to 430 billion won from 242.5 billion won, the filing said.Shares of Celltrion rose nearly 4% at market close.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:068270KRX:373220
Asia

CK Solution Wins KRW24.9 Billion L-H Battery Ohio BP3-2 Mechanical Work Contract

South Korea-based specialized engineering firm CK Solution (KRX:480370) secured a contract for the L-H Battery Ohio BP3-2 mechanical work from L-H Battery Company, according to a Monday filing with the Korea Exchange.L-H Battery Company is a joint venture between LG Energy Solution (KRX:373220) and Honda Motor (TYO:7267).The contract is valued at 24.9 billion won, according to the filing.Shares of CK Solution rose more than 13% at market close, those of LG Energy Solution jumped 21%, while the shares of Honda Motor added nearly 2%.

KRX:373220KRX:480370TYO:7267
Asia

South Korean Shares Plunge on AI, Battery Losses; Samsung Loses 5%, SK Hynix 8%

South Korean shares closed lower on Friday after investors booked profits on AI and battery stocks following the previous day's strong gains. Market heavyweights Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Energy Solution (KRX:373220) shed over 5%, 8% and 6%, respectively, at the end of the trading day.The benchmark Korea Composite Stock Price Index, or Kospi, fell 5.8%, or 519.09 points, to close at 8,411.21. The Kosdaq also declined by 4.1%, or 36.44 points, to end at 851.37.In economic data, the average interest rate on new deposits in South Korea added one basis point to hit 2.93% in May from the previous month, while the average interest rate on outstanding amounts of deposits also added one basis point to 2.03% during the same period.The average interest rate on new loans in the country shed one basis point to hit 4.19% in May from the previous month, while the average interest rate on outstanding amounts of loans added one basis point to 4.31% during the same period, the Bank of Korea said Friday.On the corporate front, SK Telecom (KRX:017670) plans to invest 738.38 billion won in chipmaker SK Hynix's US-incorporated NAND unit SK Hynix NAND Product Solutions Corporation (SKHNPS) via a capital contribution commitment agreement to acquire 1,198 newly issued shares.The investment will give SK Telecom a 0.9% stake in SKHNPS, with the acquisition scheduled to close on June 25, 2030, according to a Friday filing with the Korea Exchange.Shares of SK Telecom fell nearly 1% at market close.

^KOSDAQKOSPIKRX:000660KRX:005930KRX:017670KRX:373220
Asia

LG Energy Solution, Honda, Hanoi City Sign Deal to Set Up Battery Swapping Stations for Electric Two-Wheelers

LG Energy Solution (KRX:373220), Japanese automaker Honda Motor (TYO:7267), and the City of Hanoi, Vietnam, signed a memorandum of understanding to establish public battery swapping stations for electric two-wheelers, according to a Wednesday release.Under the agreement, the three parties will establish electric two-wheeler battery-swapping stations in ​​central Hanoi using LG Energy Solution's Cylindrical 2170 batteries and develop battery standardisation and safety management systems. Business models for electric two-wheeler platforms will also be established, according to the release.Honda will be responsible for battery packs, switchers, and electric motorcycles, the release said.Shares of LG Energy Solution fell nearly 4% at market close.

KRX:373220TYO:7267

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