LG Innotek (011070)
LG이노텍 · KOSPI · Camera modules and package substrates
KOSPI · Price as of · Delayed Quote · Converted at ₩1342 per dollar
- Code011070
- ExchangeKOSPI
- Korean nameLG이노텍
- Quoted inKorean won
- US listingNone
- Run byMoon Hyuk-soo
- Analysts26
- Implied upside+102.5%
- Target range₩350,000 to ₩2,000,000
- Target in dollars$819.14
Reported fundamentals
There is no stock score on this page. The score is computed from audited XBRL filings on SEC EDGAR and includes a 20-point insider component built from Form 4s, and a Korean company files neither, so a grade here would be measuring something different from the same letter on a US hub. These are the reported figures instead.
| Revenue | ₩21.9T ($16.3B) | +3.3% against the prior year |
| Net income | ₩341.3B ($254.2M) | 1.6% net margin |
| Capital spending | ₩754.5B | 3.4% of revenue |
| Shares outstanding | 23,664,507 | +0.0% 2022 to 2025, flat |
| Cash | ₩1.2T ($925.1M) | Current ratio 1.6 |
| Total debt | ₩2.2T ($1.6B) | Debt to equity 34.3 |
| Forward P/E | 11.5 | On analyst estimates, not on reported earnings |
LG Innotek closed at ₩543,000 on Sep 11, down 10.1% since Aug 12. Daily closes on the KOSPI, in won. Source: Yahoo Finance.
What LG Innotek does
LG Innotek makes components: camera modules, optical parts, vehicle electronics and package substrates. The camera business is the one that built the company, and it is tied closely to the smartphone cycle, which is why the shares have historically traded on handset demand rather than on anything to do with AI.
The AI-relevant piece is substrates. LG Innotek pushed into flip-chip ball grid array substrates, the engineered boards that a processor is mounted on, and those are the version of the product that servers and AI accelerators need. They are harder to make than the substrate under a phone chip, with more layers and tighter tolerances, and the supply of them has been tight. It is a smaller share of revenue than the camera business, so the AI story is a change in the mix rather than a change in the company.
LG Innotek is run by Moon Hyuk-soo (문혁수), President and CEO, since December 2023.
LG Innotek has no US listing. Buying the shares means buying the Seoul line, which most US brokerage accounts cannot do directly.
LG Innotek coverage
Samsung just signed a $200 billion deal with Broadcom (AVGO), a 32-year TSMC (TSM) customer.
Samsung Electronics signed a memorandum with Broadcom on July 24 covering more than $200 billion of work over five years, through 2030. Broadcom has had TSMC make its chips since 1994, and about 95% of the wafers it outsourced last year came from there. Samsung's foundry holds 6.5% of the world market against TSMC's 72%, and Seoul had closed for the week before any of it was announced.
Broadcom just picked its next supplier, and it is not Samsung Electronics or SK Hynix.
Samsung Electro-Mechanics and LG Innotek, not Samsung Electronics or SK Hynix, are racing to supply Broadcom with the substrates its AI chips sit on. One has already won Broadcom's business and is shipping glass substrate samples. The other is fielding trillion won investment offers to catch up.
Other Korean AI listings
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|---|---|---|---|
| SK Hynix | 000660 | KOSPI | HBM memory for AI accelerators |
| Samsung Electronics | 005930 | KOSPI | Memory, foundry and the broader electronics business |
| Hanmi Semiconductor | 042700 | KOSPI | Thermal compression bonders for HBM stacking |
| HPSP | 403870 | KOSDAQ | High-pressure annealing equipment |
| Wonik IPS | 240810 | KOSDAQ | Deposition and etch equipment for memory |
| Leeno Industrial | 058470 | KOSDAQ | Test probes and probe cards |
| Samsung Electro-Mechanics | 009150 | KOSPI | FC-BGA package substrates and MLCCs |
| Naver | 035420 | KOSPI | Korea's search platform and HyperCLOVA X |
| Simmtech | 222800 | KOSDAQ | Package substrates for memory |
| Techwing | 089030 | KOSDAQ | Memory test handlers |
| Hana Micron | 067310 | KOSDAQ | Semiconductor packaging and test |
| ISC | 095340 | KOSDAQ | Test sockets |
| Jusung Engineering | 036930 | KOSDAQ | Atomic layer deposition equipment |
| Soulbrain | 357780 | KOSDAQ | Process chemicals for chipmaking |
| Samsung SDS | 018260 | KOSPI | IT services, cloud and data centers |
| SK Square | 402340 | KOSPI | Holding company whose main asset is SK Hynix |
| Kakao | 035720 | KOSPI | Messaging platform building consumer AI |
| HD Hyundai Electric | 267260 | KOSPI | Transformers and switchgear |
| LS Electric | 010120 | KOSPI | Power distribution and automation |
| Hyosung Heavy Industries | 298040 | KOSPI | Transformers and heavy electrical equipment |
| Doosan Enerbility | 034020 | KOSPI | Power plant equipment, turbines and nuclear components |
Frequently asked questions
What is LG Innotek's stock code?
LG Innotek trades on the KOSPI in Seoul under the code 011070. Data providers usually write it as 011070.KS. The company has no US listing, so the Seoul line is the only place the shares trade.
Why is LG Innotek an AI stock?
LG Innotek makes components: camera modules, optical parts, vehicle electronics and package substrates. The camera business is the one that built the company, and it is tied closely to the smartphone cycle, which is why the shares have historically traded on handset demand rather than on anything to do with AI.
What do analysts expect for LG Innotek?
26 analysts covering LG Innotek have an average price target of ₩1,099,615 (about $819.14), which is +102.5% against the last close. Coverage of Korean listings is overwhelmingly domestic, so these are Korean brokerage estimates rather than the US sell-side names that cover an American chip stock.
Does LG Innotek file with the SEC?
No. LG Innotek is a Korean company listed in Seoul, so it reports to the Korea Exchange and the Financial Supervisory Service, not the SEC. That is why this page has no filings, Form 4 insider or congressional trading sections: those are built from EDGAR, which has nothing on a company that does not file there.