LG Chem will acquire LG Electronics’ battery separator business unit.The South Korean chemical said on Thursday that it will acquire LG Electronics’ chemical and electronics materials (CEM) business for 525 billion won.The acquisition means LG Chem will now have technologies in cathode, anode, separ

Hyundai Motor and LG Energy Solution said on Thursday that they have signed an agreement to build a joint battery factory in Indonesia.The factory will have a capacity of 10GWh per year and start production in 2024.The pair will spend US$1.1 billion in total on the venture, each owning half of the s

Posco said on Wednesday that it plans to build a new factory that will produce high purity nickel uses in cathodes for electric vehicle batteries.The company plans to spend 230 billion won to install steel removal process on its subsidiary SNNC’s existing factory equipment.Posco will also build a ne

Samsung Electro-Mechanics has begun operations of its new multi layer ceramic capacitor (MLCC) factory in Tianjin, China.The company said during its second quarter conference call that the factory has begun operation at the current time, after completion of construction and trial testing conducted i

LG Display said on Wednesday that it was reviewing the construction of an additional OLED production line for IT and mobile applications.The statement is effectively a confirmation that the company plans to restart spending on the E6-3, which will manufacture OLED panels for Apple.LG Display CFO Suh

SK Hynix has performed strongly during the second quarter thanks to high demand for semiconductors.The company’s sales and operating income for the quarter was its highest since 2018.SK Hynix said on Tuesday that it posted 10.32 trillion won in sales, 2.69 trillion won in operating income and 1.98 t

Samsung SDI said on Tuesday that it has posted 3.33 trillion won in sales and 295.2 billion won in operating income in the second quarter.Sales jumped 30.3% year-on-year while operating income surged 184.4% over the same time period.Sales was Samsung SDI’s highest in record. The company credited the

Cosmo Advanced Materials on Monday said it has recorded 5.8 billion won in operating income in the second quarter.It is an increase of 167% from the same time period a year ago.The company said its main businesses, NCM battery cathodes and films for multi layer ceramic capacitors, led the growth.Cos

LG Energy Solution was the top vendor in batteries from January to May in the global market excluding China, according to SNE Research.The South Korean company held a 35.5% market share during the time period, an increase of 7 points from 28.8% of the same time period a year ago.This was followed by

General Motors will recall its Chevrolet Bolt EV due to defects found in some of the batteries supplied by LG Energy Solution.The US car firm said some of the fire involving the model was caused by production defects in some of the batter cells.General Motors and LG Energy Solution had asked custome

Chemical firm BASF said on Thursday that it has be selected as a battery development partner to Cellforce Group.Cellforce Group is a joint venture between Porsche and German lithium-ion battery firm Customcells.BASF will be the sole supplier of NCM cathode with HED lithium stabilization technology a

South Korea automobile brand Kia recorded 1.48 trillion won in operating income in the second quarter, an increase of 924.5% from the same time period a year ago.Sales increased by 61.3% to 18.33 trillion won over the same time period.Kia’s net income during the quarter was 1.34 trillion won, an inc

Hyundai Motor saw its operating income triple in the second quarter this year compared to the same time period in 2020.The South Korean automobile giant said on Thursday that it recorded 30.32 trillion won in sales and 1.88 trillion won in operating income during the quarter.Sales increased 38.7% fr

Mando will split off its autonomous driving business unit to form a new company.On Tuesday, Mando’s board passed the motion for the split, after over two third of its shareholders approved of the move.Called Mando Mobility Solutions (MMS), the new company will form in September 1. Its management wil

Samsung on Monday said it has launched the 2021 The Wall display, which uses Micro LED technology.The latest model, model name IWA, has a micro AI processor with 16 neural networks models used to upscale resolution.The new display also uses LED devices that are 40% smaller than their predecessor.Thi

SK Innovation said on Sunday that it will receive financial support from the European Union for the 90 million euros it will cost to build its second battery in Hungary.The South Korean company’s second factory at Komarom is expected to be completed within the year. It will start commercial operatio

Fab equipment maker Hanmi Semiconductor said on Monday that it has recorded 108.7 billion won in sales and 35.7 billion won in operating income in the second quarter.It is the company’s best quarterly sales figure to date.Sales increased 77% from the same time period in 2020, while operating income

Camera lens firm Haesung Optics and camera module inspection equipment maker isMedia will collaborate in developing expanded reality (XR) devices and contents, the pair said on Wednesday.They will also collaborate to make inspection equipment more sophisticated.A Haesung spokesperson said it will us

LG Chem said on Wednesday that it plans to spend 6 trillion won into its battery business by 2025.It will spend a total 10 trillion won on what it calls its three new growth engine by that year, company vice chairman Shin Hak-cheol said.LG Chem will spend 6 trillion won into its battery business, 3

A total of 122 models of OLED smartphones were launched in the first half of 2021, according to market research firm UBI Research.Out of the total, 119 models, or 97.5%, were in the 6-inch range in terms of size, the firm said.This is a 20 point increase from 2018, when 78% of OLED smartphones had 6