LG Energy Shares Fall on Report GM Seeking More Tax Credits (1)

LG Energy Solution Ltd. shares fell in Seoul trading on concern the company may have to hand over a bigger slice of US tax credits that have helped boost profit to battery partner General Motors Co.

The stock fell as much as 5.6% in early trading Friday after the Korea Economic Daily reported that GM asked LG to hand over up to 85% of the tax benefits, even though their Ultium Cells LLC venture is owned 50-50.

LG Energy is negotiating with the US automaker over how the tax benefits are shared, and no decision has been made, the company ...