LG Energy CEO takes on China EV battery giant CATL
Company wields $97bn market value from IPO as it chases Chinese rival
Kwon Young-soo, chief executive of LG Energy Solution and the most powerful executive in LG Group, beats a drum at a traditional ceremony held for initial public offerings at the Korea Exchange in Seoul, South Korea.
SEOUL -- LG Energy Solution, the battery-making subsidiary of South Korea's LG Chem, went public last Thursday and ended its first trading day with its stock 68% higher than the initial offering price and a market capitalization of around $97 billion.
The IPO was spearheaded by Chief Executive Kwon Young-soo, a pillar of the LG Group who has taken back the helm of the battery business launched by the late former chairman, Koo Bon-moo.