LG Chem said on June 26 that it has started mass production of high-nickel single-crystal cathode materials for next-generation batteries at its Cheongju Cathode Material Plant in North Chungcheong Province in Korea.Single-crystal cathode materials are made of several metals such as nickel, cobalt,
LG Innotek has set up a two-track strategy to ramp up production capacity for budget products at its forward base in Vietnam and focus on high-value-added premium products in Korea. The company announced on June 26 that it will invest 1.3 trillion won (approximately US$1 billion) in its Hai Phong pr
The global automotive industry is fiercely competing for control over vehicular software operating systems (OS). Notably, Hyundai Motor and Kia are expanding their territories by securing 10 million global users in the realm of connected car services, a cornerstone of the Software-Defined Vehicle (S
While the market capitalizations of companies that focus on semiconductors, secondary batteries, and automobiles -- Samsung Group, SK Group, LG Group, Hyundai Motor Group, and POSCO Group -- have increased, those of retail-heavy companies like CJ Group, Shinsegae Group, GS Group, Lotte Group, and ot
Hyosung Group announced on June 23 that its Chairman Cho Hyun-joon, who is part of the economic delegation accompanying President Yoon Suk-yeol’s state visit to Vietnam, personally inspected the local business progress and future investment plans. Hyosung first entered the Vietnamese market in 2007,
Samsung Group, led by Chairman Lee Jae-yong, was found to be the top Korean company in four categories in 2022: total sales, operating profit, net profit, and employment size.Samsung Group officially passed a milestone of 400 trillion won in sales in 2022, according to the results of a 2022 Korean b
Vietnam, to which President Yoon Suk-yeol will pay a three-day state visit beginning June 22, has become a center of research and development (R&D) for Samsung and LG for the future, becoming more than a global production outpost for them.Samsung posted sales of US$73.7 billion (about 95.3678 trilli
Korean secondary batteries for electric vehicles are expanding overseas with flying colors. However, Korea’s trade balance in secondary batteries has turned into a deficit due to the increasing number of reverse imports of Korean secondary batteries from overseas.On June 22, the Korea International
Samsung Chairman Lee Jae-yong, SK Chairman Chey Tae-won, Hyundai Motor Chung Eui-sun, and LG Chairman Koo Kwang-mo discussed bilateral cooperation on energy, biotechnology and future transportation in a meeting with French President Emmanuel Macron.The Korean business leaders met with President Macr
LG Energy Solution has successfully attracted nearly 5 trillion won in capital from its demand forecast for its first-ever issue of 500 billion won in corporate bonds since its foundation.According to the investment banking industry on the 22nd, LG Energy Solution received a total of 4.72 trillion w
Jim Keller, CEO of Tenstorrent and considered a living legend in the semiconductor industry, will visit the Samsung Foundry Forum 2023 in late June in San Jose, California. Keller’s recent chip development collaboration with LG Electronics has lead to an increase in his contacts with Korean companie
POSCO Group is aggressively growing its secondary battery materials business by investing 1.5 trillion won (US$1.2 billion) to build a nickel and precursor production plant in Pohang, North Gyeongsang Province, Korea in partnership with a Chinese company. The precursor is a material just before bein
LG Energy Solution announced on June 20 that it will select and support 10 global startups with innovative technologies and business ideas in battery materials, cells, packs, battery management systems (BMS), and smart factories through the “LGES Battery Challenge.”This event, marking its third occu
Following East Asia and the United States, Europe is emerging as the new battleground for semiconductors. Since Europe unveiled its intention to exert influence in the global supply chain by leveraging its top-tier domestic semiconductor equipment and automobile semiconductor companies, leading glob
A surge in the use of air conditioning during the summer would bode well for KEPCO’s earnings, as such a development would bring an increase in application of the highest electricity rate. That said, one risk factor is the possibility of the government adopting electricity rate discount policy in re
As a race to preempt the next-generation electric vehicle battery market extends beyond the battery industry to the automotive industry, companies are accelerating their moves to secure super-gap technologies.According to sources in the battery industry on June 19, major Korean battery manufacturers
LG’s AI Research Institute unveiled their “Captioning AI” for the first time at the world's largest computer vision conference, “Computer Vision and Pattern Recognition (CVPR) 2023,” taking place in Vancouver, Canada on June 19. The institute has applied “zero-shot image captioning” technology,
Korean companies lost about 40 trillion won in cash and cash equivalents at the end of April 2023 compared to the end of 2022. Funds at the core affiliates of the four major Korean business groups -- Samsung, SK, Hyundai, and LG – also plummeted. These companies are holding strategy meetings and wor
Samsung and LG are showing mixed results in the automotive electronics domain that both companies have chosen as their new growth drivers. Samsung has spent an astronomical amount of money, close to 10 trillion won, to take over Harman, but has not been able to generate much synergy with the company
Micron has begun making significant investment in China even though its sales have been blocked in the Chinese market. Apple’s new Apple Vision Pro has a significant number of components made in China. Some analysts say this is a sign that the U.S.-China power struggle is shifting from decoupling, w