On July 14, South Korea’s LG Chem stated that it plans to invest 10 trillion won (approximately US$8.7 billion) by 2025 to accelerate the “sustainable growth” of the battery materials business and other business lines.
LG Chem stated that it will take sustainable green materials, e-Mobility battery materials, and global innovative new drugs as the three new growth engines, and said it will invest 10 trillion won in these areas by 2025.
LG Chem plans to invest 3 trillion won in sustainable development fields such as biomaterials, recycling, and renewable energy industrial materials, and nurture them into the future growth point of the petrochemical business unit.
The company's goal is to become the world's number one comprehensive battery material company. It plans to invest 6 trillion won to cultivate a diversified product portfolio from positive electrode materials to separators, negative electrode binders, thermal conductive adhesives, and carbon nanotubes (CNT).
Its life science business division plans to become a global new drug company with two or more innovative drugs in 2030, and with the goal of entering leading markets such as the United States and Europe, it plans to invest more than 1 trillion won in the new drug business.
