[Featured Stock] POSCO Chemical Considers Entry into LFP Cathode Material Business... Up 12%
Posco Chemical is showing a strong gain of over 12% in early trading on the 16th. The improvement in investor sentiment is interpreted as a result of news that Posco Chemical is considering entering the LFP (Lithium Iron Phosphate) cathode material business, which dominates the global electric vehicle supply chain.
As of 10:22 a.m. on the same day, Posco Chemical is trading at 272,000 KRW, up 12.86% from the previous trading day on the Korea Exchange.
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2022012613560124048_1643172961.jpg)
During the session, Posco Chemical rose as much as 14.11% to 275,000 KRW but gave up some of the gains.
On the previous day, Kim Jun-hyung, CEO of Posco Chemical, stated at the '2023 InterBattery' event that "Entry into the LFP cathode material business is currently under review."
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LFP batteries are a type of lithium-ion battery, and recently, the three domestic battery companies?SK On, LG Energy Solution, and Samsung SDI?announced their simultaneous entry into this market. Compared to conventional ternary batteries, lithium iron phosphate batteries have lower energy density but are cheaper, making them widely used in affordable electric vehicles.
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