LG Chem Ltd.

Company Profile

■URL

https://www.lgchem.com/

■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
Petrochemical Supply petrochemical materials for automobiles, construction, electronic components, consumer goods, etc.
LG Energy Solution Battery cells, modules, BMS, etc. for EVs; No. 2 in global market share in 2022 after CATL (according to MarkLines)
Advanced Materials Development of high-strength materials for automobiles, battery materials, semiconductor materials, etc.
Life Science Development of new drugs and other life science-related businesses.
Common and others Sales of crop protection products, seeds, fertilizers, etc., and R&D activities

 

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.

-In 2022, LG Energy Solution (LGES) had the second 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)

Shareholders

(December 31, 2022)
Main Shareholder Investment ratio (%)
LG 33.34
National Pension Service 7.45

Products

Battery for EV
Cell
-Uni-direction Cell
-Bi-direction Cell
-Long Cell
-Low Height Cell

Module/Pack
-Tall Pack
-Narrow Pack
-Stepped Pack
-Flat Pack

Battery Management System (BMS)
-Low voltage : ~50V
-Light EV : ~100V
-EV : ~500V
-Commercial EV : ~800V

-Battery production results (cumulative) for EVs from 2009 to 2022: 1.88 million BEVs (475.2 million cells), 890,000 PHEVs (179.2 million cells), 1.55 million HEVs (162.4 million cells), 3.05 million μ-HEVs (95.3 million cells).

 

Battery Materials
-Cathode material
-Separator
-Anode binder

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

Supplemental Information 1