LG Chem To Invest in Eco-friendly Battery Materials By 2025
Declaration to switch business portfolio for sustainable growth
□ Petrochemicals: To lead sustainable business focusing on eco-friendly materials such as full-scaled production of Bio SAP
□ Advanced Materials: To grow into the world’s largest comprehensive battery materials company having all core battery materials such as separation membranes, cathode binders, and become no. 1 in the world for anodes
□ Life Sciences: To become a global pharmaceutical company with a minimum of 2 global innovative new drugs by 2030
■ Chief Executive Officer Hak Cheol Shin,
“Over 30 projects including M&As, joint ventures (JV), strategic investments, etc. to make a paradigm shift to an ESG-based business portfolio are being reviewed. This will be the most revolutionary change since the establishment of the company that will upgrade the value and sustainability of LG Chem, and tangible achievements will become available from the second half of this year”
Chief Executive Officer Hak Cheol Shin announced investment plans worth 10 trillion KRW in ESG-based sustainable growth sectors.
Chief Executive Officer Shin stated LG Chem selected
▲eco-friendly sustainable business
▲e-mobility centering on battery materials
▲global innovative new drugs as the three major new growth engines, declaring that 10 trillion KRW will be invested in these fields by ’25 at a press conference held online on the 14th.
He Stated, “The standard for measuring competitiveness in the business world should be based on sustainability for revenue and operating profits, and this should be reflected in all business processes, strategy, and investment, etc.” “From this perspective, our business portfolio will be overhauled toward being based on ESG, while pursuing sustainable growth.”
■ New growth engine triangle – eco-friendly materials, battery materials, global innovative new drugs
LG Chem selected three new growth engines that will be in accordance with ESG, while maximizing the growth potential of existing businesses.
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