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LG Chem to spin off battery unit

General 16:47 September 17, 2020
LG Chem to spin off battery unit
LG Chem to spin off battery unit

An electronic signboard at Yonhap Infomax shows the price of LG Chem Ltd. plunging 6.11 percent during a trading session on Sept. 17, 2020, on the news that the country's leading chemical company decided at an emergency board meeting earlier in the day to spin off its battery business in a move to further strengthen its leading position in the sector amid growing demand for electric vehicle batteries. The new entity -- tentatively called LG Energy Solutions and which will be wholly owned by LG Chem -- is set to be launched Dec. 1. (Yonhap)
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16:47 September 17, 2020
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