[Featured Stock] LS Strengthens Core Materials Business for Electric Vehicle Batteries... 52-Week High

LS is showing strong intraday gains on news that it is strengthening its next-generation electric vehicle battery core materials business.

As of 9:52 a.m. on the 28th, LS is trading at 78,400 won, up 3.98% from the previous trading day. Earlier in the session, the stock surged to 80,700 won, setting a new 52-week high.

On the previous day, LS announced that it will complete a nickel sulfate production plant with an annual production capacity of 5,000 tons at the Toricom site in Asan, Chungnam. Toricom is a subsidiary of LS MnM, a non-ferrous metal materials company, and is the largest urban mining company in Korea, recycling precious metals such as gold, silver, platinum, and palladium, generating approximately 320 billion won in sales last year.

This decision aims to strengthen the next-generation electric vehicle battery core materials business. In addition to nickel sulfate, LS MnM plans to secure additional raw materials and expand its nickel sulfate production capacity from the current approximately 5,000 tons (annual, nickel content 1,200 tons) to 270,000 tons (annual, nickel content 60,000 tons) in three phases by 2030.