[Featured Stock] LG Chem Rises for Second Day on Q1 Profit Outlook

LG Chem's stock price has been rising for two consecutive days amid expectations of a turnaround to profit in the first quarter.

On the 20th, LG Chem was trading at 255,000 KRW, up 13,000 KRW (5.37%) from the previous trading day.

On the previous day, Lee Dong-wook, a researcher at IBK Investment & Securities, stated about LG Chem, "Operating profit for the first quarter of this year is expected to turn positive to 191 billion KRW compared to the previous quarter, significantly exceeding market expectations (61.5 billion KRW)."

With expectations that earnings will surpass market forecasts, LG Chem's stock price has risen for two consecutive days. The closing price on the previous day was 242,000 KRW.

The researcher added, "With the implementation of the Indian BIS (Bureau of Indian Standards) regulations in the second half of this year, sales expansion is expected in India, the company's main export market. The reduction of general-purpose products and the expansion of high value-added products such as charging cables for electric vehicles will also positively contribute to profitability improvement."

Accordingly, the annual operating profit for this year is expected to increase to 2.21 trillion KRW, about twice the 917 billion KRW recorded last year.