South Korea's three major power battery companies have made a lot of money: total sales in 2022 reached 50 trillion won, breaking the record

CTOnews.com, December 27 (Xinhua)-- South Korean battery giants LG New Energy, Samsung SDI and SK On are expected to reach a record total sales of about 50 trillion won (273 billion yuan) this year.

LG's revenue this year is expected to grow 41.4% year-on-year to 25.2 trillion won (about 137.592 billion yuan), according to market tracker FnGuide. Net profit will soar 95.3% to 1.5 trillion won (about 8.19 billion yuan), surpassing the 1 trillion won mark for the first time.

Samsung SDI's revenue and net profit are expected to be 20.1 trillion won (about 109.746 billion yuan) and 1.9 trillion won (about 10.374 billion yuan), up 48.5% and 81.1% compared with the same period last year. SK On is expected to generate 6 trillion won (32.76 billion yuan) in revenue and made a profit after it was spun off from SK Innovation last year.

CTOnews.com learned that in October this year, three South Korean battery giants LG New Energy, SK On and Samsung SDI ranked third, fifth and sixth respectively, with a market share of 11.3%, 5.4% and 4.9%, respectively.