- CEO
- Dong-Chun Kim
- Full Time Employees
- 12,869
- Sector
- Process industries
- Industry
- Chemicals: specialty
- Address
- LG Twin Towers Seoul SL South Korea 07336
- IPO Date
- Apr 25, 2001
- Business
- LG Chem Ltd. is a leading South Korean chemical company specializing in petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of petrochemical products, including basic raw materials such as ethylene and propylene, plastics like polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS), styrene-acrylonitrile resin (SAN), synthetic rubber, and engineering plastics. It also produces advanced materials such as cathode and anode binders for batteries, display and optical films including LCD polarizers, and circuit board materials. In the life sciences sector, LG Chem develops pharmaceuticals focusing on oncology and specialty care, with a recent acquisition of the U.S. biopharmaceutical firm AVEO Oncology to expand its oncology drug portfolio. The company operates manufacturing facilities and subsidiaries across Asia, North America, and Europe, with headquarters in Seoul, South Korea, and was founded in 1947.
Recent major changes include strategic investments to strengthen battery materials production, such as the establishment of cathode material joint ventures and new plant construction in Tennessee, USA. LG Chem expanded its separation business through acquisition and advanced its sustainability initiatives by completing Asia’s first supercritical pyrolysis plant and entering a bio-refinery joint venture with Eni to support decarbonization efforts. It also signed a significant supply contract for cathode materials with General Motors valued at 25 trillion KRW and plans to enhance its commercial excellence and cost competitiveness through portfolio rationalization and selective capital investment. Additionally, the company is divesting non-core commodity chemical production lines and is reducing its stake in LG Energy Solution, aiming to refine its business portfolio towards high-value battery and pharmaceutical products. LG Chem continues to focus on eco-friendly materials development and expanding downstream operations to improve profitability and market presence globally.