LG Chem plans for huge growth of battery business thanks to EV push

LG Chem, a company of the LG Group conglomerate, had sustained battery sales despite the pandemic, plans on its battery revenue to double by 2025, according to Bloomberg. The company expects to achieve this growth thanks to governmental incentives all around the world pushing for electric vehicles (EVs) adoption.

Samsung SDS and SK C&C competing for Korea Post's Financial IS Management

SK C&C and Samsung SDS are reportedly competing for a ₩206.4B contract for Korea Post's "next-generation financial information system management" according to the Korea Times. SK C&C and Samsung SDS are also competing with smaller mid-size companies that are opposed to conglomerates SK and Samsung winning yet-again a governmental bid.

LG Chem sets 2050 target for carbon-neutral growth

LG Chem targets "carbon-neutral growth" by 2050 by using renewable energy in its domestic and international business sites, banning the use of landfills for new business sites, creating programs for recycling batteries and plastics, and improving its supply chains to meet customer requirements. More information can be found on LG Chem's press release.

Large investment by Hyundai Mobis in US venture capital funds

Hyundai Mobis, a Hyundai Motor Group company, is investing USD $20M dollars in two US technology venture capital funds, ACVC Partners and MOTUS Ventures, based in Silicon Valley. According to Hyundai Mobis' press release, these funds invest in companies developing sensor, biometrics, and robotics technologies that have direct applications for car technologies.

SK Biopharmaceuticals' Groundbreaking IPO

SK Biopharmaceuticals' IPO on July 2 was very positively seen by investors, as shares went up an impressive 159% intra-day. The stock (traded as 326030 on the KOSPI) continued its run the next day, finishing up another 30%. The company's offering price was 49,000 won per share; share price closed at 165,000 on July 3 before the weekend.