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Biz News Korea(Eng)
LG Chem pledges $3.6 bn capex for this year upon best-ever earnings in 2017
- Collected
- 2018.02.01
- Distributed
- 2018.02.02
- Source
- Go Direct
이미지 확대LG Chem, one of the world’s top secondary battery makers, said its capex this year would expand by 52 percent from last year to reach 3.8 trillion won ($3.6 billion).
At 2:48 p.m. in Thursday’s trading in Seoul, LG Chem shares were 3.01 percent down at 419,000 won from the previous session.
The spending would go to expansion in the capacity of high-end materials for organic light-emitting diode, renewables, and electric vehicle batteries, exploring new markets for lithium-ion battery sector, research and development in bioengineering drugs, and smart farming exports.
Its all-out expansion in broad divisions came after the company reported record earnings throughout its operation.
LG Chem posted 615 billion won in operating profit in the final quarter last year, up 33.2 percent from a year ago. Sales gained 16.7 percent to 6.432 trillion won during the same period, while net income rose 25.2 percent to 338.1 billion won.
For full 2017, operating profit and sales hit historic-highs of 2.93 trillion won and 25.7 trillion won, up 24.4 percent and 47.0 percent, respectively, from the previous year.
By Kang Doo-soon and Lee Ha-yeon
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