LG Chem Ltd.

Summary

Covers LG Chem exhibition participation, products, technologies, and major customers. Offers exclusive information available only on MarkLines to support research and analysis in the automotive industry.

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	Proportion of the Company's total sales (FY 2024)
LG Energy Solution	Battery cells, modules, BMS, etc. for EVs; No. 3 in global market share in 2023.	52.4%
Petrochemical	Supplying petrochemical products, processing, and raw materials for the plastics and plastics processing industries as well as for household appliances.	38.1%
Advanced Materials	Cathode materials, separator films, other battery materials, OLED materials, etc.	5.4%
Life Sciences	Development of new drugs and other life science-related businesses.	2.6%
Common and others	R&D and sales of crop protection products, seeds, fertilizers, etc.,	1.6％

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 2024, LG Energy Solution (LGES) had the third largest global market share for EV batteries. (SNE Research)

>>>Analysis Report: Lithium-Ion Battery (Japan, Europe, North America and Korea)

Featured report
Korean Battery Supplier Operations in North America	Click here for featured report

Shareholders

(December 31, 2024)

Main Shareholder	Investment ratio (%)
LG	34.04
National Pension Service	8.20

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Products

Batteries for EVs (LG Energy Solution)
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

LG Chem
Battery Materials
-Cathode materials
-Separators
-Anode binders

Advanced Materials
-LUCEL
-LUCON
-LUMID/LUXY
-LUPOL
-LUPOS
-LUPOX/LUMAX
-LUPOY
-LUSEP
-KEYFLEX TO
-KEYFLEX BT

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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 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.
Aug. 2024	Indonesian joint venture PT.HLI Green Power was converted to a subsidiary.