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KRX:373220

13 stories mentioning KRX:373220Updated 12d ago

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Asia

LG Energy Solution Signs Lithium Carbonate Supply Contract with U.S.-based Smackover Lithium

LG Energy Solution (KRX:373220) entered into a long-term supply contract for lithium carbonate with U.S.-based lithium specialist developer Smackover Lithium, the South Korean firm said in a Tuesday release.Under the deal, LG Energy Solution will receive 80,000 tons of lithium carbonate over a decade beginning in 2029 from Smackover Lithium. The supply will support production of about 1.8 million high-performance electric vehicles, the release said.Smackover Lithium plans to produce the lithium in Arkansas using direct lithium extraction technology, it said.Shares of LG Energy Solution fell nearly 3% at market close.

KRX:373220
Asia

LG Energy Solution Starts Operations at New Battery Manufacturing Unit in Michigan, US

LG Energy Solution (KRX:373220) has started operations at its new battery manufacturing facility in Lansing, Michigan, U.S., according to a company statement on Wednesday.The plant will produce lithium‑iron phosphate (LFP) cells for energy storage systems and nickel‑cobalt‑manganese batteries for Toyota (TYO:7203) EVs, with targeted annual output of over 35 GWh.The new unit brings LG Energy's Michigan facilities to two and ESS sites in North America to five. The company aims to reach more than 50 GWh of LFP cell capacity in North America by end‑2026 across three wholly‑owned plants and two joint ventures.

KRX:373220TYO:7203
Asia

Market Chatter: LG Energy Solution Mulls Stepping into US Defense Sector with Drone Batteries

LG Energy Solution (KRX:373220) is in discussions with the US government and key defense contractors in the country to supply batteries for drones and other unmanned weapons systems, as it looks at new growth engines amid the lower demand for electric vehicles, Bloomberg News reported Wednesday.The South Korean battery manufacturer has received inquiries from several potential US partners, the company's president for North America Bob Lee told Bloomberg News.Discussions remain in the early stages, but entering the defense sector would represent a major strategic shift for LG, which has historically avoided it, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:373220
Asia

LG Energy Solution Begins Production at New Michigan Battery Plant

LG Energy Solution (KRX:373220) has started production at its new 226-acre Lansing, Michigan plant, targeting over 35GWh annual capacity for energy storage systems (ESS) and electric vehicle batteries.The plant will manufacture Lithium Iron Phosphate or LFP cells for ESS applications, integrated by the company's U.S. storage division, according to a company statement on Tuesday.The facility will also manufacture Nickel Manganese Cobalt or NMC cells for Toyota's ( TYO:7203) upcoming 2027 Highlander EV assembled in Kentucky.Since 2010, LG Energy Solution has invested over $5 billion in Michigan across its Holland and new Lansing facilities, where it has already spent $2 billion and employs 900 workers, with plans to expand to 1,700 at full capacity.

KRX:373220TYO:7203
Asia

LG Energy Confirms ESS Contracts Signed, Stays Undetermined on KRW 10 Trillion Reports

LG Energy Solution (KRX:373220) confirmed that many supply Energy Storage System (ESS) contracts have been signed through its subsidiaries, with additional agreements under discussion with customers in Europe, Japan, and other regions.However, the company has maintained an "undetermined" stance on media reports regarding 10 trillion won worth of ESS supply contracts, according to a bourse filing on Wednesday.Further disclosures will be made when any decisions requiring regulatory notification are finalized or within six months.The company has neither confirmed nor denied the specific value or scope of the reported contracts across multiple filings since April 2025.

KRX:373220
Asia

Nomura Adjusts LG Energy Solution's Price Target to KRW560,000 From KRW600,000, Keeps at Buy

LG Energy Solution (KRX:373220) has an average rating of buy and mean price target of 513,296.28 won, according to analysts polled by FactSet.

KRX:373220
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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