BASF has opened a center in South Korea to test polymer materials and offer support for local customers.The company said on Tuesday that it has opened Engineering Plastics Innovation Center Korea, or EPIC Korea, at Ansan.BASF recently acquired Solvay’s polyamide business, strengthening its R&D capac

Samsung SDI said on Tuesday that it recorded 3.43 trillion won in revenue and 370 billion won in operating income during the third quarter this year, an increase of 11.42% and 39.7%, respectively.The global chip shortage had caused demand for large batteries to drop, the company said.But this was of

Samsung Display is expected to manufacture 18 million units of foldable OLED panels next year, according to analyst firm UBI Research’s forecast on Sunday.The South Korean display panel maker is expected to build more foldable OLED modules line next year, the firm said.Its subsidiary Dowooinsys, whi

SKC said on Monday that it will invest US$33 million in UK’s silicon anode firm Nexeon.Together with private equity funds SJL Partners and BNW Investment, a total of US$80 million will be invested in Nexeon, SKC said.Nexeon was founded in 2006 and has technology that allows for fast and affordable p

The new CEO of LG Energy Solution has told employees that the company has the capacity to turn its recent crisis into an opportunity.Kwon Young-soo was newly named CEO and vice chairman of LG Energy Solution on Monday.He was previously the vice chairman of LG Corporation, the holding company of the

LG Electronics said on Thursday that it has recorded 18.78 trillion won in revenue and 540.7 billion won in operating profit during the third quarter.Sales is its highest for a quarter ever and an increase of 22% from the same time period in 2020.Operating profit dropped 49.6% year-on-year from its

SK Materials will be merged with its holding company SK Corporation.At the same time, its special gas business unit, which manufactures gas used in wafer fabrication, will be split off as a new company, SK Materials said on Friday.The process will be completed by December 1. SK Materials’ shares wil

SK Innovation said on Friday that it has marked 12.3 trillion won revenue and 618.5 billion won in operating income during the third quarter.Revenue increased 48% year-on-year while it returned to profitability compared to the same time period a year ago.SK Innovation credited the growth to improved

LG Chem said on Wednesday that it plans to form a joint venture with Japan’s Toray to build a battery separator factory in Hungary.The pair have agreed to form LG Toray Hungary Battery Separator Kft, with each owning half of the stakes of the new company.LG Chem will acquire 20% more stake from Tora

Kia said on Wednesday that it posted 17.75 trillion won in sales and 1.32 trillion won in operating income during the third quarter this year.It is a rise of 8.8% and 579.7%, respectively, from a year ago.The figures beat South Korean analysts’ consensus slightly.Wholesales have decreased due to pro

Woory Industrial and Hyundai Wia will collaborate to develop an e-compressor and other auto parts used in the heating system of electric vehicles, TheElec has learned.This is from Hyundai Motor and Kia reviewing potentially applying a new heating system for their future electric vehicles to increase

Hyundai Motor on Tuesday said it posted 28.86 trillion won in sales and 1.6 trillion won in operating income during the third quarter.Sales increased 4.7% from a year ago while the automobile giant returned to profitability from its loss a year ago.Hyundai recorded 1.48 trillion won in net income du

LG Chem said on Monday that it has recorded 10.61 trillion won in sales and 726.6 billion won in operating income during the third quarter.This is an increase of 41.4% and a drop of 19.9%, respectively, from a year ago.The drop in profit was caused by the cost of General Motors’ recent additional re

The Korea Electrotechnology Research Institute said on Monday that it has transferred its technology on solid-state electrolyte production to Daejoo Electronic Materials.The technology was developed by principal researcher Ha Yoon-cheol is a precipitation method of production of solid-state electrol

Posco Chemical said on Monday that it will be supplying battery cathode and anode to Norway’s Morrow Batteries.How much it will supply it yet to be fixed but the Norwegian company is planning to start battery production in 2024.The South Korean chemical company has been providing samples to Morrow s

The vice chairman of LG Corp, the holding company of the LG business group, will become the new CEO of LG Energy Solution.LG vice chairman Kwon Young-soo will take the top job of the South Korean battery maker after votes from shareholders and the board.Kwon had previous headed the battery business

PI Advanced Materials said on Monday that it has hit 80 billion won in sales during the third quarter.It is its highest quarterly sales figure to date. The company also recorded 19.2 billion won in operating income, an increase of 20.5% year-on-year.Out of its total sales, it saw the highest sales f

The chairman and CEO of Edison Motors said the company believes that its recently acquired subsidiary SsangYong Motor could reach 10 trillion won in sales by 2030.Chairman Kang Young-kwon said at an online press event on Friday that SsangYong could manufacture 200,000 units to 300,000 units of vehic

Samsung SDI said on Friday that it will form a battery manufacturing joint venture with automobile giant Stellantis.The pair’s joint venture will build a battery factory in the US with a capacity of 23GWh by 2025, the South Korean battery maker said.Samsung SDI said the capacity could be upped to 40

APS Holdings said on Thursday that it has become the largest shareholder of digital X-ray firm Astel.The company spent 2 billion won to secure 31% of the shares in total.APS Holdings had already bought 14.6% of the shares back in 2012 with 600 million won.The company said the latest acquisition will