Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
NATO Albania Summit Faces Uncertainty as Trump, Defense Spending Concerns Loom 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
U.S. Stocks End Q2 Higher as Strong Jobs Data and AI Rally Lift Wall Street 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
Apple Challenges India Antitrust Probe, Says CCI Copied Rivals’ Claims in App Store Case 
UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms 
RBA Minutes Signal Australia Central Bank Remains Ready to Raise Interest Rates if Inflation Persists 
LG Energy Solution and Hanwha Group signed a memorandum of understanding (MOU) this week to cooperate on the battery business in the United States. Their agreement will also ensure a steady supply of inexpensive batteries.
The Hahwa Group that signed the agreement with LG Energy Solution is composed of its three affiliates - Hanwha Solutions, Hanwha Aerospace, and Hanwha Corporation. In this joint venture, they will also bolster the efforts to make advanced battery technology, The Korea Times reported.
It was shared on Monday, Jan. 16, that with their cooperation, LG Energy Solution and the mentioned Hanhwa affiliates are aiming to hold a dominant position in the fast-growing energy storage system (ESS) market in the United States.
The companies will be building a battery production facility in the U.S. through joint investments. They also agreed to create an integrated system that will use air conditioning and electronic equipment applied for ESS.
“Our partnership with Hanwha Group is expected to take the competitiveness of each company’s battery-related businesses a step further,” LG Energy Solution stated in a press release. “By signing this MoU with leading, like-minded energy companies, we put ourselves in the best possible position to successfully expand the influence of our solar and ESS businesses in the U.S., and we will do our very best to provide customers with comprehensive green energy solutions.”
The Hanhwa Group also said that they “have decided to collaborate with LG Energy Solution, which has several large-scale manufacturing facilities being constructed in the U.S., to target the U.S. ESS market boasting fast growth thanks to green energy policies.”
The company further said that their goal is to maximize synergy at home and overseas by promoting partnerships in different business fields, including battery manufacturing equipment and special-purpose batteries.
