[Special Stock] LG Electronics Surges on Apple Car Expectations

[Asia Economy Reporter Song Hwajeong] LG Electronics is experiencing a surge of over 10% in the early trading session.

As of 9:16 AM on the 19th, LG Electronics was trading at 135,500 KRW, up 13,000 KRW (10.61%) from the previous day.

The rise in stock price is attributed to expectations surrounding the Apple Car.

Bloomberg reported on the 18th (local time), citing informed sources, that Apple is accelerating the development of an electric vehicle focused on full autonomous driving. According to the sources, Apple has decided to concentrate on the full autonomous driving option under the leadership of Kevin Lynch, an executive in charge of Apple Watch software and the new head of 'Project Titan.' Apple has recently reached a major milestone in developing semiconductors to support the autonomous driving system, and a significant portion of the core work on the processor to be installed in the Apple Car appears to be completed. Internally, Apple has advanced its development schedule, originally set for 5 to 7 years, aiming to launch an autonomous vehicle in 2025, four years earlier than planned.

LG Electronics is expected to supply parts for the Apple Car in the future, which has led to LG Electronics being considered an Apple Car-related stock. Earlier, in early September, the stock price also surged in relation to the Apple Car.