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

Samsung Display saw its smartphone OLED panel shipment increase 24.6% quarter-to-quarter during the third quarter thanks to the launch of iPhone 13, according to data from UBI Research.The South Korean display panel maker shipped 124.76 million units of the panels during the third quarter, the analy

Kia may start selling used electric and hydrogen vehicles with car sharing platform company J’Car, TheElec has learned.The South Korean car brand launched its car sharing service called wible BIZ earlier this year.The service lends electric and hydrogen cars through subscription to companies and pub

Cowin Tech said on Thursday that it will spend 8.3 billion won to expand its first factory at Asan.The company said the expansion will triple its production capacity for smart automation system equipment.Cowin Tech is expanding the facility to meet new orders.A company spokesperson said it is aiming

Youngwoo DSP said on Wednesday that it has chosen to lead a national project to develop a new MicroLED package technology.The project given by South Korea’s Ministry of Trade, Industry and Energy is aiming to develop an ultra-small RGB layer based MicroLED manufacturing technology.The project will b

LG Electronics said on Tuesday in its earnings guidance that it is expecting sales of 18.78 trillion won and operating income of 540.7 billion won for the third quarter this year.Sales increased by 22% from a year ago and is its highest quarterly figure to date.However, operating profit dropped 49.6

LG Energy Solution said on Tuesday that it has restarted procedures for an IPO after settling the cost of the recall of Chevrolet Bolt EV with General Motors.The South Korean battery maker had started the procedure back in June but halted it from the US carmaker announcing an additional recall of th

Samsung Electronics said on Friday that it posted 73 trillion won in sales and 15.8 trillion won in operating profit.It is an increase of 9.02% and 27.94%, respectively, from a year ago.The sales figure is its highest to date for a quarter; operating profit is its highest in three years.Samsung’s se

Cosmo AM&T will start operations in November of its factory that recently completed its expansion.The company added 2800mm width coaters to the factory, which can manufacture 14 million meter square of release films used in multi-layer ceramic capacitors (MLCC) per month, Cosmo AM&T said on Tuesday.

Battery production equipment maker Philenergy said on Thursday that it has recorded over 120 billion won in accumulated sales up to the third quarter this year.The figure is an increase of around 6 times over the same time period last year.Philenergy offers notching and stacking kits used in battery

SK IE Technology, the material-making subsidiary of SK Innovation, will start the operation of its first separator factory in Poland during the fourth quarter, the company said.The first factory at Slaskie has an annual capacity of 340 million meter-square, which is enough to provide over 300,000 un

Battery electrode slot die equipment maker GI Tech is aiming to list on KOSDAQ on October 21.The company will be offering 2.7 million shares for sales. It is asking for a price between 11,500 won to 13,100 won per share. Mirae Asset Securities is underwriting the deal. It is seeking up to 35.4 billi

South Korean battery production equipment maker A-Pro will be supplying its charge/discharge equipment to Ultium Cells, the joint venture between LG Energy Solution and General Motors.A-Pro said it will deliver the kits from its research center at Siheung, South Korea, and begin shipping in October.