LG Chem Ltd. (

Korean Korean may refer to: People and culture * Koreans, people from the Korean peninsula or of Korean descent * Korean culture * Korean language **Korean alphabet, known as Hangul or Korean **Korean dialects **See also: North–South differences in t ...

: LG화학), often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in

Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

. It was the 9th largest chemical company in the world by sales in 2021. It was first established as the Lucky Chemical Industrial Corporation, which manufactured

cosmetics Cosmetics are substances that are intended for application to the body for cleansing, beautifying, promoting attractiveness, or altering appearance. They are mixtures of chemical compounds derived from either Natural product, natural source ...

. It is now solely a

business-to-business Business-to-business (B2B or, in some countries, BtoB) refers to trade and commercial activity where a business sees other businesses as its customer base. This typically occurs when: * A business sources materials for its production process for ...

company (consumer products division was spun off into

LG Household & Health Care LG H&H Co., Ltd., formerly LG Household & Health Care, is a major South Korean consumer goods company that manages cosmetics, household goods, and beverages business. It is also the South Korean bottler of the Coca-Cola system. Summary Hist ...

). The company has eight factories in

and a network of 29 business locations in 15 countries. This network includes a holding company in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

, 14 overseas manufacturing subsidiaries, five marketing subsidiaries, seven representative offices, and two R&D centers. The ''

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Jap ...

'' reported on April 2, 2017, that LG Chem would be expanding

battery Battery or batterie most often refers to: * Electric battery, a device that provides electrical power * Battery (crime), a crime involving unlawful physical contact Battery may also refer to: Energy source * Battery indicator, a device whic ...

production in China. At the time, China accounted for one-third of the company's total sales. In April 2019, LG Chem sued rival SK Innovation for allegedly stealing trade secrets for manufacturing electric vehicle batteries.

Business and product areas

Current

LG Chem has three main business areas: * Petrochemicals * Advanced materials * Life sciences

Petrochemicals

LG Chem is a supplier of petrochemicals ranging from basic distillates to specialty

polymer A polymer () is a chemical substance, substance or material that consists of very large molecules, or macromolecules, that are constituted by many repeat unit, repeating subunits derived from one or more species of monomers. Due to their br ...

s. For example, it is a large producer of common

plastics Plastics are a wide range of synthetic or semisynthetic materials composed primarily of polymers. Their defining characteristic, plasticity, allows them to be molded, extruded, or pressed into a diverse range of solid forms. This adaptab ...

such as

acrylonitrile butadiene styrene Acrylonitrile butadiene styrene (ABS) (chemical formula (C8H8)''x''·(C4H6)''y''·(C3H3N)''z'' ) is a common thermoplastic polymer. Its glass transition temperature is approximately . ABS is amorphous and therefore has no true melting point. A ...

(ABS),

styrene-acrylonitrile resin Styrene acrylonitrile resin (SAN) is a copolymer plastic consisting of styrene and acrylonitrile. It is widely used in place of polystyrene owing to its greater thermal resistance. The chains of between 70 and 80% by weight styrene and 20 to 30% ac ...

(SAN), and

polyvinyl chloride Polyvinyl chloride (alternatively: poly(vinyl chloride), colloquial: vinyl or polyvinyl; abbreviated: PVC) is the world's third-most widely produced synthetic polymer of plastic (after polyethylene and polypropylene). About 40 million tons of ...

(PVC). It also produces raw materials and liquids, including

plasticizer A plasticizer ( UK: plasticiser) is a substance that is added to a material to make it softer and more flexible, to increase its plasticity, to decrease its viscosity, and/or to decrease friction during its handling in manufacture. Plasticizer ...

s, specialty additives,

alcohol Alcohol may refer to: Common uses * Alcohol (chemistry), a class of compounds * Ethanol, one of several alcohols, commonly known as alcohol in everyday life ** Alcohol (drug), intoxicant found in alcoholic beverages ** Alcoholic beverage, an alco ...

polyolefin A polyolefin is a type of polymer with the general formula (CH2CHR)n where R is an alkyl group. They are usually derived from a small set of simple olefins (alkenes). Dominant in a commercial sense are polyethylene and polypropylene. More speciali ...

acrylic acid Acrylic acid (IUPAC: prop-2-enoic acid) is an organic compound with the formula CH2=CHCOOH. It is the simplest unsaturated carboxylic acid, consisting of a vinyl group connected directly to a carboxylic acid terminus. This colorless liquid has ...

synthetic rubber A synthetic rubber is an artificial elastomer. They are polymers synthesized from petroleum byproducts. About of rubber is produced annually in the United States, and of that amount two thirds are synthetic. Synthetic rubber, just like natural ru ...

, styrenics, performance polymers,

engineering plastic Engineering plastics are a group of plastic materials that have better mechanical or thermal properties than the more widely used commodity plastics (such as polystyrene, polyvinyl chloride, polypropylene and polyethylene). Engineering plastic ...

elastomer An elastomer is a polymer with viscoelasticity (i.e. both viscosity and elasticity) and with weak intermolecular forces, generally low Young's modulus (E) and high failure strain compared with other materials. The term, a portmanteau of ''ela ...

s, conductive resins, and other chemicals.

Advanced materials

LG Chem supplies display and optical films, polarizers,

printed circuit A printed circuit board (PCB), also called printed wiring board (PWB), is a laminated sandwich structure of conductive and insulating layers, each with a pattern of traces, planes and other features (similar to wires on a flat surface) ...

materials, and

toner Toner may refer to: * Toner (printing), a powder mixture used in laser printers and photocopiers * Toner (skin care), a water-based lotion, tonic, or wash designed to cleanse the skin in preparation for other skincare products * Hair toner, produ ...

s. It also supplies LCD polarizers, which are multi-layer sheets of film applied to the top and bottom surfaces of

TFT-LCD A thin-film-transistor liquid-crystal display (TFT LCD) is a type of liquid-crystal display that uses thin-film-transistor technology to improve image qualities such as addressability and contrast. A TFT LCD is an active matrix LCD, in contrast ...

panels to transmit the light from the backlight unit through the panel, and 3D FPR ( film-type patterned retarder) film, which enables three-dimensional viewing.

Life sciences

LG Chem acquired AVEO Pharmaceuticals, a U.S. bio firm focused on

renal cell carcinoma Renal cell carcinoma (RCC) is a kidney cancer that originates in the lining of the Proximal tubule, proximal convoluted tubule, a part of the very small tubes in the kidney that transport primary urine. RCC is the most common type of kidney cance ...

, for US$571 million in 2023.

Former

Energy solutions

LG Chem completed development and began mass production of Korea's first

lithium-ion batteries A lithium-ion or Li-ion battery is a type of rechargeable battery that uses the reversible intercalation of Li+ ions into electronically conducting solids to store energy. Li-ion batteries are characterized by higher specific energy, energy ...

back in 1999. At the end of 2011, LG Chem was the world's third-largest maker with an annual production capacity of 1 billion cells. It is also a supplier of automotive battery for electric vehicles, such as the Ford Focus, Chevrolet Volt and Renault ZOE. LG Chem Michigan is a wholly owned subsidiary of LG Chem based in

Holland, Michigan Holland is a city in Ottawa County, Michigan, Ottawa and Allegan County, Michigan, Allegan counties in the U.S. state of Michigan. Located in the West Michigan, western region of the Lower Peninsula of Michigan, Lower Peninsula, the city is si ...

which operates a plant to manufacture advanced battery cells for electric vehicles. The million Holland plant received 50% of its funding from

U.S. Department of Energy The United States Department of Energy (DOE) is an executive department of the U.S. federal government that oversees U.S. national energy policy and energy production, the research and development of nuclear power, the military's nuclear we ...

matching stimulus funds, and started manufacturing battery systems in 2013. The plant can produce enough cells per year to build between 50,000 and 200,000 battery packs for

electric car An electric car or electric vehicle (EV) is a passenger car, passenger automobile that is propelled by an electric motor, electric traction motor, using electrical energy as the primary source of propulsion. The term normally refers to a p ...

s and

hybrid Hybrid may refer to: Science * Hybrid (biology), an offspring resulting from cross-breeding ** Hybrid grape, grape varieties produced by cross-breeding two ''Vitis'' species ** Hybridity, the property of a hybrid plant which is a union of two diff ...

s such as the

Chevrolet Volt The Chevrolet Volt is an electric vehicle car that was manufactured by General Motors, and also marketed in rebadged variants as the Holden Volt in Australia and New Zealand and the Buick Velite 5 in China, and with a different fascia as the ...

General Motors General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. The company is most known for owning and manufacturing f ...

, the

Ford Focus Electric The Ford Focus Electric is a 5-door hatchback electric car that was produced by Ford. The Focus Electric is Ford's third production all-electric vehicle (After the Ford TH!NK and Ford Ranger EV), and was made from December 2011 to May 2018. T ...

, and upcoming

plug-in electric vehicle A plug-in electric vehicle (PEV) is any road vehicle that can utilize an external source of electricity (such as a wall socket that connects to the power grid) via an detachable power cable to store electrical energy within its onboard rechar ...

s from other carmakers. Its research and development arm, called LG Chem Power, is based in nearby

Troy, Michigan Troy is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. A northern suburb of Metro Detroit, Detroit, Troy is located about north of downtown Detroit. As of the 2020 census, the city had a population of 87,294, ...

. LG Chem Power and LG Chem Michigan were originally one company called ''Compact Power, Inc.'' Both the Chevrolet Volt and the Ford Focus Electric initially used cells manufactured in Korea by parent LG Chem and then later switched to cells produced in LG Chem Michigan's Holland plant once it opened. In September 2020, LG Chem unveiled its plan to publicly list its energy division under the name of

LG Energy Solution LG Energy Solution Ltd. (LGES; ) is a battery company headquartered in Seoul, South Korea. LGES is one of the largest battery makers in the world alongside CATL, Panasonic, SK Innovation, and Samsung SDI. History LG Chem Energy Solution Busi ...

by December. LG Chem said on September 22, 2024 that it plans to supply cathode materials to Prime Planet Energy & Solutions Inc. (PPES), a Japanese battery joint venture established between Toyota Motor Corp. and Panasonic Corp. October 27, 2024 LG Chem said Sunday it has opened its third overseas research and development center in Germany to develop environment-friendly, next-generation technologies.

Accidents and incidents

Visakhapatnam gas leak

On 7 May 2020, a gas leak incident that took place at the LG Polymer plant at Gopalapatnam on the outskirts of

Visakhapatnam Visakhapatnam (; List of renamed places in India, formerly known as Vizagapatam, and also referred to as Vizag, Visakha, and Waltair) is the largest and most populous metropolitan city in the States and union territories of India, Indian stat ...

resulted in the death of 12 people, hospitalization of over 300 and around thousands falling sick. Nearly 3000 people were evacuated from villages in five-kilometre radius of the plant. The gas reportedly started leaking around 2:30am when the workers were preparing to reopen the plant after the

lockdown A lockdown () is a restriction policy for people, community or a country to stay where they are, usually due to specific risks that could possibly harm the people if they move and interact freely. The term is used for a prison protocol that us ...

ordered due

COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...

was relaxed in the region.

Seosan plant explosion

On 19 May 2020, an alkylaluminum-based catalyst powder exploded due to high-pressure while being transported at the packing room of the LG Chem plant at

Seosan Seosan (; ) is a city in South Chungcheong Province, South Korea, with a population of roughly 175,000 according to the 2017 census. Located at the northwestern end of South Chungcheong Province, it is bounded by Dangjin, Naepo New Town, Yesan- ...

. The explosion exposed the

pyrophoric A substance is pyrophoric (from , , 'fire-bearing') if it ignites spontaneously in air at or below (for gases) or within 5 minutes after coming into contact with air (for liquids and solids). Examples are organolithium compounds and triethylb ...

powder to the air, causing a fire. As a result, a 39-year-old researcher died and two more workers suffered second-degree burns.

Past Officers

* Chairman & CEO ** Gu In-Hoe (1966~1969) ** Gu Ja-Gyeong (1970~1995) ** Gu Bon-Mu (1995~2001) * Vice Chairman & CEO ** Heo Sin-Gu (1988) ** Seong Jae-Gap (1996~2001) * President & CEO ** Gu In-Hoe (1947~1965) ** Gu Cheol-Hoe (1968~1970) ** Bak Seung-Chan (1970~1971) ** Heo Sin-Gu (1971~1980/1986~1988) ** Gu Ja-Hak (1980~1986) ** Choe Geun-Seon (1989~1994) ** Lee Jeong-Seong (1989~1991) ** Seong Jae-Gap (1994~1995)

Notes

References

External links

* {{Authority control Auto parts suppliers of South Korea Chemical companies of South Korea Electric vehicle battery manufacturers Battery manufacturers Solar energy companies Silicon wafer producers Multinational companies headquartered in South Korea Technology companies of South Korea LG Corporation Companies listed on the Korea Exchange Companies in the KOSPI 200 Companies in the S&P Asia 50 Manufacturing companies based in Seoul Chemical companies established in 1947 South Korean companies established in 1947 1960s initial public offerings