[Special Stock] LG EnSol Hits New Low Amid Electric Vehicle Demand Slowdown and Downgrade

The stock price of LG Energy Solution has been declining for consecutive days, hitting a new low.

As of 9:39 AM on the 30th, LG Energy Solution is trading at 336,000 KRW, down 1.61% (6,000 KRW) from the previous day.

The shaky investor sentiment toward LG Energy Solution is due to a slowdown in electric vehicle demand. This has weakened expectations for the secondary battery industry, leading to net selling by foreign investors.

Earlier, the global credit rating agency Standard & Poor's (S&P) downgraded the credit rating outlook for LG Energy Solution and its parent company LG Chem from 'stable' to 'negative.'

S&P stated, "Amid a slowdown in demand for electric vehicle secondary batteries, the continued large-scale investments by LG Chem and LG Energy Solution have contributed to increased investment burdens."