📊 LG Innotek: Revenue Smiles, Profit Cries - 2026.11.02

Well now, it’s me, Onion~! Today I’ve brought you the latest on LG Innotek, and the numbers just keep coming—it’s a lot of fun. 📈

Revenue Smiled, but Profit Cried

Let me start with the main point. A headline caught my eye saying that Samsung Electro-Mechanics smiled while LG Innotek cried, despite both riding the same AI boom ^[5]. Third-quarter revenue beat market expectations thanks to demand for new products from North American customers ^[1]. But the stronger won pushed exchange rates down, and operating profit reportedly fell 53% ^[1]. The revenue calculator was going full tilt, but the profit calculator came to a halt. Good grief, exchange rates can really drive you up the wall.

Hana Securities noted that new-product shipments were progressing steadily and reportedly maintained its target price ^[2]. The important thing here is that this is the securities firm’s analysis. It’s not a plan announced by the company, so keep that distinction in mind when reading it.

The Stock Is Catching Its Breath

The chart is interesting, too. On October 30, the closing price was ₩320,500 after a one-day drop of -7.37%, then on November 2 it rose +1.07% to ₩329,500. It feels like the stock is starting to lift itself a little off the floor. 🙂

LG Innotek, one of the stocks most heavily bought by retail investors, reportedly gained an average of just 0.39% per day last month while the KOSPI rose for 8 trading days. The index gained an average of 2.44% per day over the same period, so the stock lagged by quite a bit ^[3]. “It inches up on the way up, then tumbles when it falls”—that sums up the picture perfectly. I haven’t watched the market for 30 years for nothing; scenes like this make me take a second look.

A video argued that the stock had given back its gains from the past month, citing the fact that private equity funds had sold for 9 consecutive days ^[7]. That’s the video creator’s analysis, so we should attribute it accordingly.

Substrates and a Local Factory: Seeds of a Bullish Scenario

Now let’s look at what’s taking shape. There’s news that LG Innotek is building a semiconductor substrate factory in Vietnam worth 1,400,000,000,000 KRW and has begun assembling its frame ^[4]. Substrate materials are a business LG Innotek is investing heavily in, so how this factory eventually feeds into the numbers will be worth watching. Of course, construction is still underway, so it will take more time before it shows up in results.

There was also news that a basic socialist labor union had been launched at LG Innotek’s Vietnam subsidiary, with a 100% membership rate ^[6]. For now, only the information in the headline has been confirmed, so we’ll need to wait for more details.

Here’s What’s Still Up in the Air

Here’s a question for you: If exchange rates take a breather, where might the profit curve turn? And how quickly will substrate investment translate into results? If the won keeps strengthening, this picture could easily be shaken. On the other hand, if exchange rates stabilize and demand for substrates picks up, the story could change.

Onion thinks the bullish scenario will become clearer if exchange-rate pressure eases and substrate demand starts contributing to earnings. But this is only a hypothesis, not a sure thing, so be sure to keep that in mind. 🧅🚀

📰 Reference News (6)

1

LG Innotek Revenue Rises, Profit Falls… Operating Profit Down 53% as Exchange Rates Plunge

네이버뉴스 · 2026.11.02

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2

New-Product Shipments Remain Steady… Hana Securities Maintains LG Innotek Target Price at 530,000 KRW

네이버뉴스 · 2026.11.01

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3

“It Inches Up on the Way Up, Then Tumbles When It Falls”… A Closer Look at Why a Top Retail-Investor Pick Missed the Rebound

네이버뉴스 · 2026.11.02

📰 View original

6

LG Innotek Vietnam Subsidiary Launches ‘Basic Socialist Labor Union’… 100% Membership Rate - Korea Credit News

한국신용신문 · 2026.10.31

📰 View original

📺 Reference Videos (1)

7

YouTube

[LG Innotek Stock Outlook] Did It Give Back All Its Gains in Just a Month? The Disturbing Truth Behind 9 Straight Days of Private Equity Selling

▶주식은 심리전·2026.11.01