LG Chem Ltd.
Company Profile
■URL
■Address
LG Twin Tower, 128 Yeoui-daero, Yeongdeungpo-gu, Seoul, 07336, Korea
Business Overview
-LG Chem is an integrated chemicals manufacturer in the LG Group.
-The company's business consists of the following five divisions, with production bases in Korea, China, Taiwan, Vietnam, India, Poland, and the U.S.
| Business Segment | Business | Proportion of the Company's total sales (FY 2023) |
| LG Energy Solution | Battery cells, modules, BMS, etc. for EVs; No. 3 in global market share in 2023. | 60.9% |
| Petrochemical | Supplying petrochemical products, processing, and raw materials for the plastics and plastics processing industries as well as for household appliances. | 31.1% |
| Advanced Materials | Cathode materials, separator films, other battery materials, OLED materials, etc. | 4.4% |
| Life Sciences | Development of new drugs and other life science-related businesses. | 2.0% |
| Common and others | R&D and sales of crop protection products, seeds, fertilizers, etc., | 1.5％ |
EV battery manufacturing subsidiary LG Energy Solution
-On December 1, 2020, the company's battery business was spun off to form LG Energy Solution Ltd.
-At present, LG Chem holds 81.84% of the shares of LG Energy Solution.
-In 2023, LG Energy Solution (LGES) had the third largest global market share for EV batteries. (SNE Research)
-Focusing on battery production in North America, the company is building plants in joint ventures with GM, Honda, Stellantis, and others.
>>>Analysis Report: Lithium-Ion Battery (Japan, Europe, North America and Korea)
Featured report |
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Korean Battery Supplier Operations in North America |
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Shareholders
| (December 31, 2023) |
| Main Shareholder | Investment ratio (%) |
| LG | 33.34 |
| National Pension Service | 6.70 |
Products
Batteries for EVs
Cells
-Uni-direction Cells
-Bi-direction Cells
-Long Cells
-Low Height Cells
Modules/Packs
-Tall Packs
-Narrow Packs
-Stepped Packs
-Flat Packs
Battery Management System (BMS)
-Low voltage : ～50V
-Light EV : ～100V
-EV : ～500V
-Commercial EV : ～800V
Battery Materials
-Cathode materials
-Separators
-Anode binders
History
| Jun. 1947 | Established Lucky Chemical Co., Ltd. |
| Mar. 1959 | Established Lucky Oil and Fat Co., Ltd |
| Aug. 1962 | The Company established Lucky Vinyl Co., Ltd. |
| Mar. 1966 | Established Korea’s first synthetic detergent factory in Anyang Plant |
| Oct. 1969 | Listed on Korea Stock Exchange |
| Feb. 1974 | Changed company name to Lucky Ltd. |
| Sep. 1976 | Completed the PVC paste resin factory in Yeosu Complex |
| Aug. 1978 | Completed the plastic processing factory in Ulsan Plant |
| Oct. 1979 | Opened Lucky Central R&D Center in Daedeok |
| Jan. 1985 | Completed the construction of PS factory in Yeosu Complex |
| May 1987 | Completed the construction of acrylate factory in Naju Plant |
| Oct1992 | Completed the construction of PA factory in Yeosu Complex |
| Apr. 1993 | Developed and commercialized the world's first HCFC-resistant synthetic resin |
| Oct. 1994 | Established R&D Campus Daejeon |
| Feb. 1995 | Renamed to LG Chem |
| Jul. 1998 | Completed the Ningbo ABS plant in China |
| Sep. 1999 | Established the rechargeable battery, phosphor, and CCL factories in Cheongju Complex |
| Oct.1999 | Completed the IT & electronic materials (lithium-ion batteries, optical materials, and MBL negatives) factory |
| Apr. 2001 | Divided the company into LGCI, LG Chem, LG Household & Healthcare |
| Mar. 2001 | Established a battery R&D center in the U.S. |
| Apr. 2002 | Expanded Cheongju Complex, doubling the capacity of rechargeable batteries with investment of KRW 100 billion |
| Mar. 2004 | Completed the construction of Ochang Techno Park |
| Nov. 2007 | Merged with LG Petrochemicals Co., Ltd. |
| Aug. 2008 | Concluded an MOU on development of electric car batteries with the Ministry of Knowledge and Economy and Hyundai Motor Company |
| Sep. 2009 | Started the construction of vehicle battery plant in Ochang Techno Park |
| Jun. 2010 | Established HL Green Power Co., LTD., a joint venture with Hyundai Mobis |
| Jul. 2010 | Started the construction of vehicle battery plant in Michigan, USA |
| Apr. 2011 | Completed the construction of first electric vehicle battery factory in Ochang Plant |
| Aug. 2013 | Expanded the polymer battery (10 million cells/month) plant in Nanjing, China. |
| Oct. 2015 | Completed the construction of battery plant in Nanjing, China |
| Oct. 2015 | Established Huanam(桦南) Tech Center, China |
| Oct. 2016 | Started the construction of vehicle battery plant in Poland |
| Jul. 2017 | Established an automotive battery manufacturing subsidiary in Wroclaw, Poland |
| Sep. 2018 | Acquired Uniseal, a U.S. firm specializing in automotive adhesives |
| Apr. 2019 | Established VLBP, a joint venture with VinFast in Vietnam |
| Dec. 2020 | Launched a spin-off of Energy Solutions Company (LG Energy Solution) |
| Jan. 2021 | LG Energy Solution listed on the stock exchange |
| Feb. 2023 | Established L-H Battery Company, Incorporated in Ohio, USA. |
| Jul. 2023 | Established Nextstar Energy Inc. in Ontario, Canada. |
| Dec. 2023 | Established HL-GA Battery Company LLC in Delaware, USA. |