LG Chem to Announce First Preliminary Earnings on the 12th... Appeasing Minority Shareholders?

Securities Industry Operating Profit Forecast 711.7 Billion KRW... 87% Increase Year-on-Year

[Asia Economy Reporter Minji Lee] LG Chem will announce its preliminary results for the third quarter of this year on the 12th. This is the first time the company is disclosing quarterly preliminary results.

According to LG Chem on the 11th, the company will announce its preliminary third-quarter results on the morning of the 12th. The final results are scheduled to be announced on the 21st.

[Image source=Yonhap News]

Currently, Samsung Electronics and LG Electronics are conducting preliminary earnings announcements to provide investors with earnings forecasts in advance, helping them assess corporate value.

The company explained, "As market interest in our company has increased, we are disclosing preliminary results to enable shareholders and investors to predict earnings and assess corporate value." Industry insiders view LG Chem's decision to announce preliminary results?something it has not done before?as a move to appease shareholders ahead of the battery business spin-off.

According to financial information provider FnGuide, LG Chem's operating profit for the third quarter is estimated to have increased by 87% year-on-year to 711.7 billion KRW. Sales are estimated to have increased by 10% to 8.1048 trillion KRW.