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LG Energy Solution posts 113.3 billion won Q2 operating profit, down 77 percent year on year

LG Energy Solution posted a second-quarter operating profit of 113.3 billion won, returning to the black on higher ESS shipments and increased cylindrical battery sales. Revenue rose 24.8 percent from a year earlier to 7.56 trillion won, while operating profit fell 77.0 percent. The company recorded 241.0 billion won in North America production tax credits reflected in the quarter. First-half operating loss totaled 94.5 billion won and net loss 1.27 trillion won.

Industry

South Korea science ministry breaks ground on Korea New Light Accelerator, aims for 2029 completion

South Korea\'s Ministry of Science and ICT and the Korea Basic Science Institute on July 27 held a groundbreaking ceremony for the Korea New Light Accelerator in Ochang, Cheongju. The fourth-generation circular synchrotron will use radiation generated by accelerating electrons close to the speed of light to analyse materials at the atomic level. The ministry plans to invest 1.16 trillion won, aiming to complete the project by end-2029, with KBSI overseeing construction.

Industry

LG Energy Solution raises NMP recycling rate to 97 percent, expands to global sites

LG Energy Solution said it has raised the recycling rate of an essential solution used to make battery cathode materials to 97 percent and will expand the practice to its global sites. It published its “LG Energy Solution ESG Report 2025” on Tuesday. The report includes expanding new NMP solvent recycling technology, appointing an outside director as board chair for the first time, and establishing new ESG disclosure rules.