2003.07.02 LG Chem
LG Chem signs a
deal with Nanjing, China to establish a polarizer plant
2003/8/7 LG Chem
LG Chem aims KRWon 15 trillion in sales for 2008
LG Chem, Ltd., the largest chemical company in Korea,
announced today its new mid-to-long term business strategies
and its goals of KRWon 15 trillion in sales and a 13%
operating profit rate for 2008.
2003-8-7 Asia Chemical
LG Chem to expand Yeochun styrene to 500 kt/yr
LG Chem plans to expand its
375 000 tonne/year styrene plant in Yeochun, South Korea, to
500 000 tonne/year later this year, the company said.
2003.09.17 LG Chem
LG Chem develops core materials
for Organic EL
LG Chem, Ltd., the largest chemical company in Korea,
announced today that it has developed core materials for
organic EL (Electro Luminescence) and has set up plans for
Organic EL Structure
Ｃｈｅｍｎｅｔ Ｔｏｋｙｏ Tianjin LG Bohai Chemical Co.,
同計画はLGグループ 75%、LG大沽化工 10%、及び後者の株主である大沽化工の親会社・渤海化学が15%出資したJVで行われる。(注、天津LG大沽化工はLG化学グループ85%、大沽化工15%)
Cheetham Salt と合弁で電解(ソーダ:24万トン)とEDC(30万トン)を生産する計画を発表したが、2003年夏採算性の理由から同計画を中止した。
VCM/EDC Project in Tianjin
Asia Chemical Weekly
LG Chem breaks ground for EDC-VCM
project in Tianjin
On May 23, LG Chem took a ground
breaking ceremony for its VCM and
EDC project in Tanggu (塘沽),
The project will be a joint
venture between LG Chem (45%), LG Petrochemical (20%), LG
International (10%), LG Dagu (10%) and Tianjin Bohai Chemical
Industry Co (15%).The investment of this project is $300m, it
will produce 350,000 tonne/year of VCM, 300,000 tonne/year of EDC
and 240,000 tonne/year of caustic soda. The project is expected
completed by the end of 2006.
The Output from the VCM/EDC plant
will be as the feedstock for LG Chem’s
existing 340,000 tonne/year PVC plant in Tianjin. The plant is
operated by Tianjin LG Dagu Chemical, a jv between LG Chem and
With the investment in China, LG
Chem intents to strengthen its position in the fast- growing
2005/5/25 LG Chem
LG Chem to Establish VCM/EDC Plant in China
LG Chem, Ltd., the
largest chemical company in Korea, announced today that it would
hold a groundbreaking ceremony for its VCM/EDC plant in Tianjin,
China. At the end of last year, LG Chem signed an agreement with
Tianjin Bohai Chemical Co., Ltd. to establish a VCM (Vinly
Chloride Monomer) and EDC (Ethylene Di-Chloride) plant by the end
Nearly all of VCM goes into PVC (Poly Vinyl Chloride), which is
used for manufacturing many plastic products in the building and
construction sector. EDC is the base chemical of which 95% is
used for producing VCM.
With a total investment of USD 300 million, the new facilities
strategically located at Lingang Industrial District, Tianjin,
China will have capacity of 350,000mt/yr of VCM, 300,000mt/yr of
EDC and 240,000mt/yr of Caustic Soda.
The new facilities will be established as a joint venture named 'Tianjin LG Bohai
Chemical Co., Ltd.';
the investors are comprised of LG Chem (45%), LG Petrochemical
(20%), LG International (10%), LG Dagu (10%), and Tianjin Bohai
Chemical Industry Co., Ltd. (15%).
Tianjin LG Bohai Chemical Co., Ltd.
EDC 300,000 tonne/year
Industrial District, Tianjin, China (10Km away from LG
Tianjin Lingang Industrial Area is
situated at Tanggu District of Tianjin.
LG Petrochemical (20%)
LG International (10%)
LG Dagu (10%)
Bohai Chem (15%)
is part of Tianjin Bohai Chemical Industry
Product Chain after
PVC Supply and Demand (Unit: KMT)
(Source: BCG, Mitsui, LG
2007/9/7 Korea Times
LG Chem Builds Plant
for PVC Raw Materials in China
LG Chem, the top
South Korean chemicals maker, said on Friday that it has
built a plant for PVC (polyvinyl chloride) raw materials in
China at a cost of $300 million (281 billion won), to
directly produce plastics in the neighboring country.
(ceremony to mark the completion of a plant for PVC materials
on Sep. 6)
firm’s Chinese unit, has completed
construction of the plant on a 500,000 square meter site in
Tianjin Province for production of vinyl chloride monomer
(VCM) and ethylene dichloride (EDC), the two main ingredients
Company officials expected the Chinese plant will produce
about 350,000 tons of VCM and 300,000 tons
of EDC per
year, bringing the company’s annual PVC output to a total
of 920,000 tons, the world's sixth largest in capacity.
``We aim to expand the annual PVC production at the Chinese
plant up to 400,000 tons (from 340,000tons) by 2008, a
company spokesman said. Currently, LG Chem has an annual
capacity of 580,000 tons at home.
LG Bohai will receive ethylene from LG Chem’s Daesan
produce VCM, all of which will be delivered to LG Dagu, the South Korean chemical
company’s PVC unit in China, according
to the spokesman.
LG Chem 2005/8/17
LG Chem Signs License Partnership With Mitsui Chemicals
LG Chem, Ltd., the
largest chemical company in Korea, announced today that the
company signed a license partnership agreement
with Mitsui Chemicals Inc., for the use of their VCM/EDC
The partnership grants LG Chem with the exclusive rights
to sublicense Mitsui's VCM/EDC technology. The partnership will not only be
beneficial for LG Chem but also advantageous to Mitsui as well.
The exclusive rights enable LG Chem to develop new clients and
further generate additional sales by promoting the technology
with a full vinyl chain. LG Chem had already obtained a full vinyl
chain technology by applying Mitsui's VCM/EDC technology with its
existing PVC technology.
China's Tianjin Dagu to
delay ABS trial runs until mid-September
China's Tianjin Dagu is expected to delay test runs at the
company's first 200,000 mt/year
acrylonitrile-butadiene-styrene project at Tianjin from
mid-August to the first half of September, a company source said
Friday. The latest schedule indicates that commercial ABS cargoes
now will be available only from early October, instead of end
September as initially planned, the source added.
The company originally
planned to build the ABS plant with two 200,000 mt/year lines at
the same location by the fourth quarter of 2009, but delays with
the company's initial 500,000 mt/year styrene monomer
the construction schedule back almost a year.
Startup of the second
200,000 mt/year ABS line remains scheduled for the second half of
2011. Styrene monomer, which comprises 60% of ABS, will be
supplied from Tianjin Dagu's existing 500,000
while butadiene will be supplied by Sinopec Sabic Tianjin
comprises 25% of ABS feedstock, will be sourced from both
domestic and international markets. In addition to sourcing
acrylonitrile from Shanghai Secco Petrochemical, discussions are
ongoing with China Petrochemical Development, South Korea's
Taekwang Industrial, Japan's Asahi Kasei and US-headquartered
Platts estimates that
running the ABS plant run at maximum nameplate capacity would
require up to 50,000 mt/year of ACN, 30,000 mt/year of butadiene
and 120,000 mt/year of SM. Tianjin Dagu awarded the contract for
the ABS plants to US-based Shaw Group in January 2008. Shaw's
agreement with Sabic Innovative Plastics Technologies Inc. --
formerly GE Plastics Global Technology LLP -- will enable Tianjin
Dagu to use licensed styrenic emulsion ABS technology.
|LG Life Science
||Wi-Fi zones （無線LAN）
|Smart television content
Aug. 17, 2011 KBR
KBR to Provide Phenol License and Engineering Services for LG Chem Ltd., in
Daesan, South Korea
KBR(Kellogg Brown & Root) today announced it was
awarded a contract by LG Chem Ltd. (LG) to license KBR's leading phenol
technology for LG's 240 thousand metric tons per year (KTA) phenol plant in
Daesan, South Korea.
The Daesan plant will be the second license by LG for KBR's phenol technology.
The first phenol plant in Yesou was originally licensed in 2002 for 150 KTA and
later expanded to 240 KTA. The new plant in Daesan will be part of an
integrated, world-scale facility from cumene to BPA production. KBR will also
provide the necessary engineering services in order to help LG meet its project
schedule, which is targeting to be on-stream during the first half of 2013.
"KBR's phenol process is a benchmark in the industry and has been on the
leading-edge of phenol technology for more than 60 years," said John Derbyshire,
President, KBR Technology. "KBR's longstanding relationship with LG Chem began
with the license for LG's first phenol unit in 2002 and has continued with
ongoing cooperation in many areas of the technology. Nearly 10 years later, we
are pleased to once again offer our technology to help LG meet its growth
KBR is a global engineering, construction and services company supporting the
energy, hydrocarbon, government services, minerals, civil infrastructure, power,
industrial, and commercial markets. For more information, visit www.kbr.com .
LG Chem to invest 320 bln won in plant
LG Chem Ltd., one of South Korea's
leading chemical companies, said Wednesday that it plans to invest 320
billion won (US$304 million) to expand its plants for crude acrylic acid (CAA)
and superabsorbent polymers (SAP) by September 2015.
The expansion will increase LG Chem's
annual production capacity of CAA by 80,000 tons to
510,000 tons and that of SAP by 160,000 tons to
360,000 tons, LG Chem said in a statement.
SAP is used as raw materials for diapers
and CAA is used in paint, adhesives and addition agents.
The global CAA market is expected to grow
by an annual average of 6 percent to reach 5.9 million tons in 2017 from 4.4
million tons in 2002, the company said.
LG Chem predicted that its plant
expansion will increase its sales by more than 400 billion won a year.
The company plans to
increase the volume of its CAA and SAP businesses to over 1.7 trillion won
from the current 1.3 trillion won, it said.
Mar 02, 2015
LG Chem to bulk up in specialty materials,
LG Chem vice chairman and CEO Park Jin-soo said the nation's top chemicals maker
will pour more resources into its materials business, pledging
to double sales in specialty materials and batteries by
"We are working on new materials that will change the future," Park said Friday
in a press conference held at the company's plant in Yeosu, South Jeolla
"Currently, petrochemical products make up 75 per cent of our revenue. We aim to
reduce that figure to 60 per cent by 2020, while the remainder will be made up
of value-added materials."
As part of efforts to seek new growth engines, LG Chem has greatly
invested in new materials ranging from basic
materials like engineering plastics and super absorbent
polymers to lithium-ion batteries for electric vehicles.
These are higher-margin materials that have a great potential to grow in the
coming years, officials said.
The company is currently forecasting sales of 6 trillion won (S$7.4 billion) in
that area alone for 2015. It expects the figure to double to 12 trillion won in
LG Chem aims to become a global top three manufacturer of engineering plastic,
whose demand is surging for diverse applications across industries. Its
automotive sales will be elevated to 50 per cent from the current 30 per cent.
The company is also pinning high hopes on a super absorbent polymer, which is
widely used in baby diapers, as it can absorb and retain an extremely large
amount of liquid. With the expansion at its Yeosu plant complete within the
year, its production capacity will surge to 360,000 tons per year, the
fifth-largest globally. The CEO also hinted that the company could build a new
plant abroad, citing the market potential.
LG Chem, the No. 1 maker of lithium-ion batteries, the key component for
electric vehicles, has recently extended ties with global carmakers to further
widen the gap with its rivals.
"We have secured the technology to elevate the driving range of electric
vehicles to 400 to 500 kilometers," Park said. Currently, most full-electric
vehicles drive less than 200 kilometers on a single charge.
"It will not take long to produce the products," he added, declining to further
In line with these plans, the company plans to double investment into research
and development activities from the current 600 billion won to 900 billion won
by 2018, and increase the number of researchers to 4,100 over the next three
LG Chem to beef up acrylic acid, SAP production
LG Chem said Wednesday it had finished expansion work on production lines for
acrylic acid and a super absorbent polymer -- two basic materials on which the
company pins high hopes for market leadership.
Following the expansion, its production plant in Yeosu, South Jeolla Province,
has an annual production capacity of 510,000 tons of
acrylic acid and 360,000 tons of SAP, the
world’s fifth- and fourth-largest capacities, respectively.
The company predicted an additional 300 billion won ($250 million) in sales
through the new investment.
Distillation of crude oil results in the production of naphtha, which is further
cracked in the absence of oxygen to give ethylene and propylene. Acrylic acid
and SAP are derivatives of propylene. This entire process is carried out at LG
The chemical unit of LG Group is the sole producer of acrylic acid in Korea. The
company started the production in 2004 on its own technologies and now competes
head-on with global companies like BASF, Dow and NSCL.
As part of the efforts to secure competitiveness in basic materials, the company
has also poured resources into the SAP business since 2008, becoming the No. 4
player in the market.
Buoyed by increased production capacity and improved productivity, LG Chem said
it aims to elevate sales of acrylic acid and SAP from the current 1.1 trillion
won to 1.7 trillion won by 2020.
“Since our entry into the acrylic acid and SAP business, LG Chem has become a
global player in the field through large-scale investment and research and
development efforts,” said LG Chem’s basic material business chief Sohn Ok-dong.
“We will be ramping up our efforts to lead the market.”
According to the company, the market for acrylic acid is expected to grow from
the current 4.9 million tons last year to 6.7 million tons by 2020, while that
of SAP is estimated to increase from 2.3 million to 3.4 million in the next five
January 11th, 2016
LG Chem Jumps into Agro-chemical Business
LG Chem, South Korea’s top chemicals and battery maker, will take over
Dongbu Farm Hannong (東部ファーム韓農), the largest pesticide and fertilizer
producer in the nation. LG Chem said on Jan.8 that it will purchase a 100
percent stake in Dongbu Farm Hannong for 515.2 billion won ($429.3
LG Chem’s takeover of the agrochemical business unit of the ailing Dongbu Group
is expected to be complete sometime in March after due diligence and evaluation
of the M&A decision are carried out. Then, why has chemical company LG Chem
decided to buy a pesticide and fertilizer producer?
LG Chem says its acquisition of Dongbu Farm Hannong is part of its endeavors
to secure a new growth engine. "Global chemical companies have been
intensively developing their agro-chemical business into their future flagship
business. LG Chem’s takeover of Dongbu Farm Hannong will help LG Chem evolve
into an advanced global chemical processor," said Park Jin-soo, vice chairman of
As a matter of fact, most of the global agochemical household names are major
chemical companies, such as BASF, Dow Chem and Simitomo.
BASF, the largest chemical producer in the world, has been continuously pushing
for M&As. Dow Chemical and DuPont have recently announced that they will merge.
“There is a limit to the growth of LG Chem’s petrochemicals business as the
Chinese economy has slowed down. Global chemical companies are reshaping their
business portfolios by selling off underperforming divisions and acquiring
high-growth businesses. In that sense, the ago-chemical sector is a very
lucrative market,” said Lee Ung-joo, an analyst at Seoul-based Shinhan
Many think that LG Chem’s takeover of Dongbu Farm Hannong will serve as a plus
in the chemical company expanding its business from basic materials
(petrochemical), information-electronic materials and secondary batteries to
agricultural chemistry (e.g. plant seeds and crop protective materials).
Dongbu Farm Hannong, South Korea's largest processor of agricultural materials,
takes the largest share of 27 percent in the crop
protection chemicals market and the second-largest share of
19 percent in the seed and fertilizer market.
The worldwide agricultural chemistry sector is expected to expand from $100
billion in 2014 to more than $140 billion in 2020, growing, on average, 6
26 Jan, 2016
LG Chem drops plan to build $4.2 bln Kazakh
South Korea's LG Chem said on Tuesday it had
decided to drop a plan to jointly build a $4.2-billion petrochemical complex in
Kazakhstan, citing a prolonged slump in oil prices and a sharp increase in
In 2011, the chemical company said it would construct the complex near the
western Kazakh city of Atyrau as part of a 50-50 joint venture with two Kazakh
The plan involved building ethylene and polyethylene plants with annual
capacities of 840,000 tonnes and 800,000 tonnes, respectively.
LG Chem also said it had cancelled its plan to invest in the polysilicon
business, citing difficult prospects for a market turnaround in the short term.
In 2011, the company said it would build a 5,000-tonne-per-year plant, at a cost
of 491 billion won ($408 million), to manufacture polysilicon, which is used to
make solar panels
LG化学と国営企業のKazakhstan Petrochemical (KPI)
KPIは国営石油会社KazMunaiGasが51%、私企業のSAT & Co が49%を保有する。
LG International, Tehran sign deal to cooperate in developing EVs
LG International Corp., the trading arm of South Korea's LG Group, said Friday
that it has signed a tentative deal with the Iranian government to cooperate in
developing electric vehicles and establishing necessary infrastructure.
Under the deal, LG International will work with local companies
to develop electric vehicles and build charging stations.
They also agreed to produce about 60,000 units of EVs by 2023.
Other details on the terms of the agreement were not known. Both sides are
seeking to finalize the deal within this year.
LG International will oversee the project jointly with the Iranian government.
Other affiliates, such as LG Electronics, LG Chem and LG Innotek, will lead
efforts to develop batteries, electric motors and key auto parts, the company
LG Chem to jack up elastomer output
LG Chem Ltd., South Korea's top
chemical maker, said Monday that it would spend some 400 billion won (US$352
million) in expanding its output of elastic polymers in a bid to meet
The company said the new plant in Daesan, some 140 kilometers south of
Seoul, will have a capacity to produce 200,000 tons of
elastomer, which will raise its total output of the elastic polymer
to 290,000 tons by 2018.
Elastomers are elastic materials mostly
used to make seals, high-quality adhesives, shock absorbers and molded
flexible parts. Their production requires specialized catalysts and
high-tech manufacturing processes, and currently only four companies in the
world make them.
With the output increase,
LG Chem will emerge as the world's No. 3 producer.
PS 5万t 1期ラインは海外技術ライセンスの役割(技術料収入)を随行し、内部需要を充足するために残すことになる。
韓国 石化産業の構造改革急ぐ 政府が過剰品目の再編促す
LG Chem to invest $100 mil. in ABS plant in
LG Chem will invest $100 million to expand manufacturing capacity of durable
plastic at its Huanan factory in Guangdong, southeastern China, the Korean
chemical maker said Monday.
LG Chem said it will increase manufacture of high value-added
by 150,000 tons per year.
Added to 900,000 tons of ABS production
capacity at a factory here in Yeosu, South Jeolla Province, and another 800,000
tons at its Ningbo plant in China, the Huanan factory is expected to produce
300,000 tons of ABS a year by 2018, boosting LG Chem's annual production by 2
million tons. The company expects this will help increase its global ABS market
share to 26 percent by 2018, up from 21 percent now.
広東省恵州市 300千トン（←150千トン） 中国海洋石油（CNOOC）とのJV
：CNOOC & LG Petrochemicals Co 増設でLGの比率 70%（←50%）
"By maximizing our international brand
awareness and our differentiated technical services in the ABS sector, we will
strengthen our dominance in China's largest Huanan market," said Son Ok-dong,
president of LG Chem's Basic Materials Business, in a statement. "We will also
utilize the facility as an advance base for the newly emerging Southeast Asian
markets to solidify our top position in the industry."
ABS, which is one of the most popular high value-added plastic synthetic resin
products, is highly thermostable and crashworthy and thus is widely used as a
key material for car and electronics.
Currrently, China takes more than 50 percent of global ABS demand. In
particular, more than half the country's total ABS demand comes from the Huanan
area, according to the company.
In 2008, LG Chem established a joint venture with China's state-run petroleum
and natural gas provider China National Offshore Oil Corp. The company said the
extra investment in the Huanan factory will increase its
stake in the joint corporation by 70 percent, up from the current 50 percent.
LG Chem said its annual sales will expand by 700 billion won once the expanded
manufacturing facilities go online.
"The expansion of the Huanan ABS factory means much to us as it will lead not
only to an increase of manufacturing scale but also will help us strengthen our
business control over the joint corporation," Son said.
The company said it has recently increased ethylene production by 230,000 tons
at the Naphtha Cracking Center in its plant in Daesan, South Chungcheong
Province. It also modified its manufacturing facilities for polystyrene, which
has been oversupplied in the market, to produce ABS products, aiming at boosting
profitability in the basic materials business.
04 July 2018
Nemaska signs 7 000 t/y lithium offtake
agreement with LG Chem
Canada’s Nemaska Lithium and Korean chemical
company LG Chem have signed an offtake agreement that provides for the supply of
battery grade lithium hydroxide by Nemaska to LG.
“We are pleased with this first step towards establishing a long-term commercial
relationship between LG and Nemaska. The signing of this agreement is a clear
vote of confidence by LG in our business plan and our capacity to be a long-term
supplier of lithium hydroxide,” said Nemaska president and CEO Guy Bourassa.
Under this agreement, Nemaska agrees to supply LG, on a take-or-pay basis and
through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation,
with 7 000 t/y of lithium hydroxide, which is
produced at Nemaska’s commercial plant in Shawinigan,
Quebec, for an initial five-year period, scheduled to start in October
Nemaska is entitled, if ever necessary, to reschedule the start of the supply
period, within certain parameters set out in the agreement and based on the
anticipated commissioning, ramping up and production start date for the
Nemaska will be operating the Whabouchi mine, also
in Québec. The spodumene concentrate produced at the Whabouchi mine will be
processed at the Shawinigan plant using a unique membrane electrolysis process
for which Nemaska holds several patents.
In April, 2018, SoftBank Group agreed to
invest up to C$99.1 million (US$77.6 million) in Nemaska for up to a 9.9%
stake in the company and gained the right of first offer to buy up to 20% of
the lithium hydroxide and lithium carbonate produced at the Shawinigan
ソフトバンクグループは4月6日、カナダでリチウムの採掘および精錬を行うNemaska Lithium Inc.（本社
This is LG Chem's second agreement with a
battery metal raw material producer.
In April, it agreed to form two joint
ventures with China's Zhejiang Huayou Cobalt to
ensure cobalt supply for lithium-ion batteries.
LG Chem to build
$1.8 bln EV battery plant in China
South Korea’s LG Chem plans to
invest about 2 trillion won ($1.77 billion) to build its second
electric car battery plant in China to meet growing demand, a
company spokesman said on Wednesday.
The factory is expected to
gradually expand the product capacity by 2023 and produce
32 gigawatt-hours (GWh) a year, the amount enough for
LG will break ground on the
new factory in October and expects to begin production in
It plans to boost capacity by
2023 at the factory, which like its current plant will be built
LG Chem currently runs four car
battery plants -- in Nanjing, Poland, South Korea and the United States.
The four plants had a combined 18-gigawatt-hour battery pack capacity at
the end of 2017.
"The company aims to achieve a total
70-gigawatt-hour battery pack capacity by 2020 from its plants," the
July. 19, 2018 東亜日報
2018/4/17 LG Chem、中国の浙江華友コバルトとリチウムイオン電池材料のJVを設立
LG Chem’s EV battery plant
in Poland is
currently operating with an annual production capacity of
100.000 batteries. However, due to an expected massive shift to electric cars from European
automakers during the next decade, LG Chem already plans to soon triple the
annual production capacity to 300.000 units.
LG Chem to invest
$2.3 billion to increase its ethylene, polyolefin output
LG Chem, South Korea’s largest
chemical company, plans to spend 2.6 trillion won ($2.3 billion)
to expand its ethylene and polyolefin production capacity by
2021, it said on Monday.
The investment is part of the
company’s efforts to focus on boosting lucrative items and
strengthen its competitiveness, it said in a statement.
The expansion will increase
the production capacity of LG Chem’s naphtha cracker in the
southwestern city of Yeosu
by 800,000 tonnes per year (tpy) of
ethylene and polyolefin, the company said in a regulatory
The expanded plant is
expected to start producing from the second half of 2021, and to
increase the company’s total ethylene production capacity to
3.3 million tpy by 2022, according
to the company’s statement.
Currently, LG Chem operates a
1.16 million tpy ethylene plant in Yeosu
and another 1.04 million tpy ethylene
plant in the southwestern city of Daesan.
China’s Ganfeng Lithium Signs supply agreement with Korea’s LG Chem
China’s Ganfeng Lithium 江西贛鋒鋰業 has signed a supply agreement with Korea’s LG
Chem to supply 47,600 tonnes of the battery material.
Shenzhen-listed Ganfeng, one of China’s largest lithium producers, will provide
lithium hydroxide from January 2019 until the end of 2022, it said in a
The deal is the latest sign of battery makers securing raw materials to meet
rising demand for electric cars.
The lithium will be supplied at market prices to LG Chem, one of the largest
producers of batteries for electric cars, Ganfeng said.
In July LG Chem signed a deal with Canada’s Nemaska
Lithium for five years supply of lithium hydroxide.
Electric car makers are moving to using more powerful higher-nickel batteries,
which tend to use lithium hydroxide rather than lithium carbonate, which is the
current dominant chemistry used in batteries.
LG Chem acquires U.S. adhesive firm
LG Chem Ltd., South Korea's biggest chemical
company by sales, said Wednesday that it has acquired
Uniseal, Inc., an American maker of specialty
adhesives and sealants in a move to diversify its business portfolio.
LG Chem purchased a 100 percent stake in
Uniseal from its parent company, Koch Enterprises, Inc.,
in a deal worth about 150 billion won (US$133 million), according to a person
familiar with the deal who spoke on condition of anonymity because he was not
authorized to speak publicly.
The acquisition strengthens LG Chem's
business portfolio in materials used in the auto industry.
Currently, LG Chem is a key supplier of
batteries to U.S. auto giant General Motors Co., European companies Volvo and
Renault and South Korea's Hyundai Motor Group.
LG Chem Vice Chairman and CEO Park Jin-soo
said his company will nurture vehicle adhesives
into a global business, noting such materials are a promising business as
carmakers are pushing to reduce the weight of cars.
Uniseal products are used in the
transportation industry, and the automotive, heavy truck and trailer market
segments account for over 80 percent of the company's business, according to
Koch Enterprises. Uniseal customers include U.S. auto giants GM and Ford Motor
In 2017, Uniseal sales reached about 63
billion won, LG Chem said.
The Evansville, Indiana-based company's
primary manufacturing facilities are located in Evansville, Shanghai, Retsag in
Hungary and Chennai in India.
Oct 25, 2018
LG Chem invests USD 1.8 bln into Nanjing
electric-vehicle battery plant
South Korean LG Chem has commenced construction of a
second electric-vehicle battery factory in Nanjing, China which will
start manufacturing next year.
The company plans to invest USD 1.8 billion into the site by 2023. The
factory will hit a production capacity of 500,000
units annually by the end of next year and will look to supply
batteries to Chinese and other Asian electric vehicle manufacturers.
With the new factory, LG Chem will have 5
electric-vehicle battery factories around the world.
Two in China and one in South Korea, U.S. and Poland each. This puts
the company in a strong position to capture the global electric vehicle wave
which is expected to grow more than 5% starting 2020.
LG Chem is positive about the economic
development of China and aims to provide services for the fast-growing needs
of its customers and also contribute to the growth of China’s economy.
In addition, LG Chem also enjoys a strong
customer base. Earlier this month, the company inked a deal with Volkswagen
to provide the automaker with batteries starting from end-2019. Its current
customers include, Hyundai and Kia in South Korea, Ford, Chrysler and
General Motors in the U.S., as well as Audi, Volvo, Renault, Daimler and
Jaguar in Europe.
28 November 2018
LG Chem to expand Polish EV battery
South Korea's LG Chem is posed to expand its electric vehicle (EV) battery
business in Poland, less than a year after opening its factory there.
LG Chem's board of directors today approved investment of
$571mn in LG Chem Wroclaw Energy to fund the expansion. The project will
run from next month to April 2021, and it may triple the
unit's output capacity in Poland to 300,000 EV batteries annually from the
current 100,000. LG did not say whether the new production lines will be
built at its existing factory near Wroclaw or on a separate site.
The latest investment will exceed the amount that LG Chem spent to build its
Polish plant by about 63pc. The current factory, which opened earlier this year,
is located in Kobierzyce, about 20km southwest of Wroclaw. LG Chem's decision to
expand so quickly comes after the company last month signed a contract
to supply EV batteries to German automaker Volkswagen.
LG Chem joined its South Korean rivals, SK Innovation and Samsung SDI, in
signing supply deals with Volkswagen. The automaker plans to introduce 50 new
electric-only models under its various nameplates by 2025, aiming by that year
to sell more than 1mn units annually under the Volkswagen brand alone.
SK Innovation earlier this week approved
investment of 1.4 trillion won ($1.24bn) to build an EV battery plant near
Atlanta that will supply Volkswagen vehicles in North America. All three major
South Korean battery producers are following a strategy of setting up large
production centres in their home country, China, central Europe and the US to
capitalise on rising global demand.
There were 3.1mn EVs in use globally last year, up 54pc from 2016's level, with
the IEA forecasting this to rise to about 125mn by 2030.
December 19th, 2018
LG Chem は12月19日、豪州のKidman Resources
との間で、Kidman が運営する豪州のMount Holland リチウム計画の水酸化リチウムを10年にわたり購入する非拘束の覚書を締結した。
Mount Holland リチウム計画は、豪州のKidman Resources
とチリのリチウム大手のSQM（Sociedad Química y Minera de Chile）の50/50JVのCovalent
February 4, 2019
Univation Signs UNIPOL™ PE Technology Agreement with LG Chem
Univation Technologies has signed
an agreement to license UNIPOL™ PE Technology to LG Chem., Ltd.
) for 2x300 kTA polyethylene plants
to be built at LG Chem’s petrochemical site in Yeosu, Korea.
The two new plants will enable
LG Chem to serve both LLDPE and HDPE market segments with one
plant focusing on differentiated
metallocene LLDPE products and the other on a full-range
of HDPE applications.
market-centric objectives, LG Chem is accessing a full-density
range of Univation’s UNIPOL™ PE Product capability including
Univation’s XCAT™ Metallocene LLDPE Technology for metallocene-based
film structures such as high-performance blown stretch film
applications as well as advantaged packaging film applications.
LG Chem will also utilize Univation’s ACCLAIM™ Unimodal HDPE
Technology for advanced unimodal products and PRODIGY™ Bimodal
HDPE Technology for unique bimodal HDPE products.
LG Chem has also licensed
Univation’s advanced process control system, PREMIER™ APC+ 2.0,
and Univation’s latest platform for virtual plant simulation
training: UNIPOL™ PE Virtual Process Software (UVPS).
“We are honored to be
selected by LG Chem as their polyethylene technology licensor
for these two new polyethylene plants,” said Dr. Steven Stanley,
president of Univation Technologies. “The inherent flexibility
of these UNIPOL™ PE Plants will enable LG Chem to serve a broad
array of key LLDPE and HDPE applications satisfying
sophisticated Korean market requirements while also producing
export-ready grades to capture overseas market opportunities.”
An LG Chem spokesperson
commented, “LG Chem maintains its strong commitment to providing
our customers with high-performance, high-quality polyethylene
resin supply.” The spokesperson continued, “This latest
investment in these two new UNIPOL™ PE Technology plants
provides LG Chem with the additional capacity, production
flexibility and advantaged product capability required to meet
the growing customer demand in the markets we serve. We value
the collaborative relationship that Univation has developed with
LG Chem, and we look forward to continuing that close working
relationship as together we bring these two new plants safely
SEOUL, Apr. 2 (Korea
Bizwire) — LG Chem Ltd., South
Korea’s leading chemicals maker, said Tuesday that it has acquired a key
technology and related assets from global high-tech chemical firm DuPont for
next-generation soluble organic light-emitting
Under the deal, LG Chem acquired DuPont’s technologies and patents for
soluble OLEDs as well as its R&D and production facilities, it said.
The value of the deal was not revealed, but industry sources estimated it to
range from 200 billion won (US$176 mln) to 300 billion won.
The soluble OLEDs technology uses an inkjet printing method to add a soluble
material to a panel, thus producing high-performance displays more
economically and reducing material waste.
“With this deal, we have secured top competitiveness in the soluble OLED
sector,” LG Chem said.
LG Chem has been racing to beef up its materials business to diversify its
business portfolio, which ranges from EV batteries to high-end chemicals.
Earlier this week, LG Chem established a new business division to better
focus on advanced materials.
sets up joint venture with Vietnam's VinFast
South Korea’s LG Chem said
on Sunday that it has set up a joint venture with Vietnam’s
VinFast Trading and Production to produce
lithium-ion batteries for the Vietnamese carmaker’s
electric scooters and electric vehicles.
The two companies established
their joint venture factory in the Vietnamese northern port city
of Hai Phong, with an aim to produce lithium-ion battery packs
for VinFast’s electric scooters that are being made now and
electric cars to be produced in the future, the South Korean
battery maker said in a statement.
The plan comes as VinFast, a
unit of Vietnam’s largest conglomerate Vingroup JSC, aims to
become the country’s first domestic car manufacturer and targets
to produce 250,000 cars per year. Vingroup has earmarked $3.5
billion for its overall car manufacturing project.
Part of the joint-venture
plans include providing premium products that meet international
standards and supplying lithium-ion battery cells for electric
devices and other products belonging to Vingroup, the statement
April 30, 2019
LG Chem Alleges Trade Secrets Theft, Files
Federal Suit against SK Innovation
The wholly-owned US manufacturing subsidiary of LG Chem, Ltd., the global leader
in pouch-type lithium ion battery manufacturing whose unique technology
underpins a significant share of the American electric vehicle market, filed on
Monday a pair of lawsuits against South Korean-owned SK Innovation., Ltd. for
misappropriation of trade secrets, tortious interference with prospective
economic advantage and other claims.
Brought jointly by LGCMI, the US-subsidiary, and its parent corporation, the
suits were filed concurrently with the United States International Trade
Commission and the United States District Court of Delaware.
The suits allege that defendants accessed trade secrets by
SK Innovation’s hiring of 77 highly skilled and experienced employees in
the lithium ion battery division of LG Chem, which
developed the world’s first commercial pouch-type Li-ion battery for
automobiles. This technology has been adopted by automotive manufacturers
worldwide as well as other consumer electronics applications.
These employees include dozens of engineers involved in the research and
development, manufacturing and assembly, and quality assurance testing of Li-ion
batteries, including the newest and most advanced generation battery technology.
The lawsuits allege that a significant number of these workers engaged in the
theft of LG Chem’s trade secrets to benefit SK Innovation in the development and
manufacturing of pouch-type Li-ion batteries, of which LG Chem is the world’s
An internal audit of company communications and other data revealed that these
employees openly conspired not only to steal LG Chem’s trade secrets but to
leverage that information in employment considerations before SK Innovation.
Applications and curriculum vitae, written specially for SK Innovation and
stored on LG Chem computers, found these employees traded in LG Chem’s valuable
trade secrets to secure employment with SK Innovation. For example, one of these
employees inserted LG Chem’s key technical trade secret information regarding
electrode manufacturing process on his curriculum vitae for SK Innovation. Even
worse, some of these employees downloaded 400 to 1,900 key technical documents
from LG Chem’s data server before their move to SK Innovation.
Coincidentally, from the end of 2016 – when the move of these 77 employees began
– to the beginning of this year, SK Innovation’s aggregated amount of EV battery
supply in contract has increased by more than fourteen times.
“SK Innovation has taken LG Chem’s highly skilled engineers and other critical
business services staff, thereby gaining access to LG Chem’s highly valued
lithium ion battery trade secrets. As a direct consequence of that theft, SK
Innovation has begun manufacturing and selling imitation Li-ion batteries to LG
Chem’s customers and prospects across the world,” Hak Cheol Shin, Vice Chairman
and Chief Executive Officer of LG Chem, said. “SK Innovation’s blatant disregard
for the rule of law damages the integrity of the free market and disrespects the
innovators whose blood and sweat created a technology that’s proven vital to a
LG Chem is seeking injunctive relief to cease any importation of Li-ion
batteries, including both commercial Li-ion battery cells and modules, and to
bar SK Innovation from importing the manufacturing and testing equipment
necessary to build Li-ion batteries, as the machinery similarly relies on LG
Chem’s trade secrets. Additionally, the company is seeking to prevent further
disclosure and use of trade secrets and significant monetary damages.
LG Chem has already dealt with SK Innovation on a similar issue in Korea, where
it sued five of its former employees who moved to SK Innovation for breach of
their non-compete obligations. The Supreme Court of Korea
ruled in favor of LG Chem, holding that the actual threat of potential
disclosure of LG Chem’s valuable trade secret information justified the
enforcement of the non-compete obligations. Despite such result, SK Innovation
continued to poach LG Chem’s employees even to this point.
June. 05, 2019
June 12, 2019
South Korea's LG Chem to team up with
China's Geely on EV batteries
South Korean battery maker LG Chem Ltd
said on Thursday it had signed an agreement to set up a joint venture with
China's Geely Automobile Holdings Ltd
to produce batteries for electric vehicles.
The joint venture would have annual
production capacity of 10 GWh by the end of
2021, and its products would be supplied to Geely's electric vehicles from
2022, LG Chem said in a statement.
The two parties would invest $94 million
each in the venture, LG Chem said in a statement.
Vehicles equipped with South Korean
batteries currently are not eligible for government
subsidies in China, the biggest auto and EV market in the world.
But Korean battery makers including LG
Chem have announced investment plans to expand capacity in China, hoping
China’s plan to phase out subsidies over the next couple of years will level
the playing field.
"Through the joint venture, LG Chem has
secured a stable structure to provide batteries for electric vehicles to the
Chinese market," LG Chem said in a statement.
The South Korean company said it would
pursue more joint ventures with other global carmakers.
April. 28, 2020
LG Chem is investing 65 billion KRW ($53
million) to expand production capacity of carbon nanotubes at its Yeosu
plant in South Korea by 1,200 tons annually (from 500 tons to 1,700 tons) by
Global demand for CNT was reportedly
3,000 tons annually, which means that LG Chem already controlled one-sixth
of the market and now will increase its output by 240%.
The main reason for the expansion is lithium-ion batteries. In particular,
batteries for electric cars.
LG Chem has worked on CNT since 2011 and
its first 20-ton pilot line was launched in 2013.
By 2024, global demand for CNT is
expected to reach 13,000 tons, especially since there are plenty of
applications other than batteries.
June 03, 2020
LG Chem batteries to power
Vietnam’s first-ever EV
LG Chem said on June 3 it will power
Vietnam’s first-ever electric vehicle, which can travel up to 500
kilometers on a single charge.
According to LG Chem and local media, Vietnam’s first domestic
carmaker VinFast will load its first EV
models with lithium-ion batteries manufactured by LG Chem.
“We expect to officially debut the model at the Los Angeles Auto Show in
November 2020; launch a test program in January 2021 and mass produce
the cars by July 2021,” a VinFast official said.
|VinFast’s first EV on the
“Though LG Chem can’t reveal the
exact battery type VinFast will use, it mainly sells NCM (nickel cobalt
manganese) 523 and NCM 622 batteries,” a company official said.
LG Chem signed a memorandum of understanding with VinFast in September
2018 and set up a joint venture with the company in April last year to
produce lithium-ion batteries for the automaker’s electric scooters and
VinFast sold 5,124 cars in the local market in the first quarter this
year, putting it in fifth place and ahead of brands that include
Mitsubishi, Mazda and Ford, according to local media.
↑ VinFast’s first EV
LG Chem rides fast in Vietnamese
battery market by powering two wheels
South Korea’s leading
battery maker LG Chem Inc. finds money in Vietnam, a
country of two wheels, by powering e-scooters that have
been catching on fast.
A JV it has established last year with Vietnam’s top
automaker VinFast supplied lithium-ion battery packs for
more than 30,000 units of e-scooter over the past year.
LG Chem and VinFast began operating the plant in June
last year, two months after they established the JV in
April. VinFast, a car making unit of Vietnamese biggest
conglomerate Vingroup, released its first e-scooter
equipped with a cylindrical battery in November 2018 and
has installed LG Chem’s batteries to three models. The
company sold 45,118 units of e-scooters until the end of
last year, of which 30,000 units were powered with LG
The Vietnamese e-scooter market has been rapidly growing
with around 200,000 units sold per year on average,
compared with just 50,000 units sold in 2017.
VinFast is set to unveil the country’s first electric
car installed with LG Chem’s battery in November this
year and start mass production in January next year.
VinFast, which had entered the finished car market in
2018, sold 5,124 units of vehicles in the first quarter
ended March this year, becoming the fifth largest
carmaker following Hyundai, Toyota, Kia and Honda in
The Vietnamese government has imposed several rules to
regulate motorcycles due to heavy traffic and
environmental reasons, but the demand for e-scooters is
forecast to increase because the public transportation
system is underdeveloped in the country. “Motorbike
sales went down 70 percent in April from a year ago due
to the impact of coronavirus, but the figure is
projected to reach above 3 million by the end of the
year,” an industry source said. “There is a huge growth
potential in the Vietnamese e-scooter market if charging
stations are added.”
LG Chem in $1.1
billion deal with China's Shanshan to sell LCD polarizer
South Korea’s LG Chem Ltd
said on Wednesday it has signed a conditional contract with
China’s Ningbo Shanshan Co Ltd to sell most of its liquid
crystal display (LCD) polarizer business for $1.1 billion.
Co.,Ltd. 寧波杉杉 manufactures apparels.
The Company produces suits, casual wear, shirts,
uniforms, and other apparel products.
Ningbo Shanshan also produces
lithium ion battery materials.
The chemicals and battery
maker said some of its LCD polarizer business including
those for automobiles would be
excluded from the sale. Polarizers improve the
display function in products.
“We are going to focus on
strengthening our competitiveness in tech materials,
especially organic light-emitting diode (OLED) and nurture
our OLED polarizer business,” LG Chem said in a statement.
The company said the deal
is pending approval from its board of directors, and the
terms are subject to change. It said it plans to make
another announcement once the deal is finalized.
Ningbo Shanshan said on
Tuesday it plans to raise up to 3.1 billion yuan ($438
million) in a share placement to fund acquisition of a
majority interest in LG Chem’s LCD polarizer business in
China, Taiwan and South Korea.
LG Chem considering closing down phthalic
anhydride line in Yeosu
LG Chem Ltd. is considering shutting down its production line in the
southeastern tip of the country due to oversupply,
industry and company sources said Sunday.
South Korea's No. 1 electric vehicle battery maker said it has informed its
workers of the plan to close down the line in Yeosu, 455 kilometers southeast of
Seoul, which produces 50,000 tons of phthalic anhydride
Phthalic anhydride is used in the manufacturing of polyesters.
Industry watchers believe that LG Chem's plan stemmed from the oversupply of the
organic compound caused by Chinese rivals, which have been eating into its
profits, and a toxic gas leak in its Indian plant.
"The phthalic anhydride production line has been operating so far," said an LG
Chem official, adding the company has been reviewing the feasibility of the line
and market situation.
Andhra police arrest LG Polymers’
top executives in styrene gas leakage accident
The styrene gas
leakage at the South Korean firm’s unit on early hours of May 7 killed
15 persons and affected over thousand people in the colonies and
villages in around 2 kilometre range.
A day after the high power committee
submitted its report on styrene gas leakage accident at South Korean firm LG
Polymers’ unit at Visakhapatnam in May, the Andhra Pradesh police announced
arresting the company’s managing director and chief executive and eleven top
The company management blamed the mishap on an unfortunate auto-polymerisation
process that took place during more than 40 days of a shutdown of the
operations during the national lockdown due to the Covid-19 pandemic. The
accident took place while LG Polymers was preparing to resume operations on
May 7 after being closed for weeks during the lockdown.
The arrested include LG Polymers India’s MD & CEO Sunkey Jeong, technical
director DS Kim, additional operations director P Poorna Chandra Mohan Rao,
and nine others including the engineers responsible for the operations.
Within hours, the AP Pollution Control Board on Wednesday announced
suspending the current and previous regional officers of PCB at
Visakhapatnam “in response to the report submitted by the high power
committee on LP Polymers Visakhapatnam gas accident.”
Immediately after the arrest, the AP police in a statement said,
“Investigation discloses that the accident at M6 Styrene storage tank was
taken place due to negligence of the above persons who are also having
knowledge that such of their acts are likely to cause death.”
Producing the 12 accused executives of LG Polymers before the court seeking
their judicial remand, the police, under the supervision of Visakhapatnam
Police Commissioner RK Meena, said the “case is under investigation in stage
as reports from various departments have to be received and examination of
The Andhra police said the investigation so far revealed that the accident
occurred due to “the poor design of M6 tank, inadequate refrigeration and
cooling system, absence of circulation systems, inadequate measurement
parameters, weak safety protocol, poor safety awareness, inadequate risk
assessment and response, poor management, slackness of management,
insufficient knowledge amongst staff, insufficient understanding of the
chemical properties of Styrene, especially during storage under idle
conditions and total breakdown of the emergency response procedures.”
Earlier, amid reports that LG Polymers shifted styrene gas from its storage
tanks to South Korea after the accident pending probe, the Andhra Pradesh
High Court on May 24 ordered the closure of the factory and barred the
company directors from leaving the country.
A week after the toxic gas leakage accident, LG Polymers announced bringing
its experts team from South Korea to investigate the cause of accident and
support the rehabilitation, and said the styrene monomer inventory was
shifted to South Korea by vessels “to prevent and eliminate all risks
The South Korean firm is currently involved in a legal battle with the
Indian courts including the National Green Tribunal at Delhi which had
invoked ‘strict liability’ clause against LG Polymers and ordered to deposit
an initial amount of Rs 50 crore for compensation against the damage to
life, public health and environment.
LG Chem pushes bio pipeline
starting with COVID-19 vaccine candidate: life science chief
LG Chem, which has kept low
profile while its rivals in Korean household corporate names
Samsung and SK have made headlines in bio breakthroughs or
expansion, aims to initiate a phase 1
human clinical study of its COVID-19 vaccine candidate
within this year after completing its ongoing preclinical
tests of the hopeful, according to Son Ji-woong, head of the
company’s life science business.
During a recent interview with Maeil Business Newspaper, Son
said the investigational vaccine is being developed as a
protein subunit vaccine like other COVID-19 shot hopefuls
being addressed by SK Bioscience and GC Pharma.
A subunit vaccine is a fragment of a pathogen, typically a
surface protein used to trigger an immune response with no
viral replication in the body.
While developing its own COVID-19 vaccine internally, LG
Chem will push for a CMO deal for commissioned production
with other vaccine developers at home and abroad to ensure
fast supply around the world, Son said, citing the company’s
production expertise and capacity proven with various
vaccines and popular diabetes drug Zemiglo.
In addition, LG Chem will remain active in open innovation
to bring in candidate molecules from outside for internal
development, while focusing its mainstay therapeutic areas
on oncology and metabolic disease.
The company has so far secured 40 hopefuls in the pipeline,
eight of which have been introduced from outside since Nov.
One of the candidates closest to market is a head and neck
cancer med in-licensed from U.S. biotech startup Q Biopharma.
The compound, which is under phase 1 trial in the U.S., will
be a first-in-class drug whose mechanism of action is
lesion-specific immunity activation to fight cancer, Son
After the merger with LG Life Sciences, LG Chem raised its
R&D spending from 15 percent to 25 percent against sales
over the past three years. LG Chem’s sales target for life
science business is 660 billion won ($556 million) this
LG Chem Splits Battery Business “Foster into
the World’s Best Energy Solution Company”
■ Enhance corporate value and stockholder value
through concentration on the business area of
■ Physical division where LG Chem possesses 100% of
new battery corporation
- Official launching of the new battery
corporation ‘LG Energy Solutions (tentative name)’
from December 1ecember 1ecember 1ecember 1ecember 1
■ Expected to strengthen expertise in business
sector and improve operational efficiency
■ Foster the new corporation
into the world’s best energy solution company with
sales exceeding 30 trillion KRW by 20204
LG Chem will split its global NO.1 battery business.
Regarding this, LG Chem announced on that it held a
board meeting on the 17th and resolved a
corporate spin-off plan to
raise corporate value and stockholder value by
concentrating on the business area of expertise.
Accordingly, LG Chem plans to receive approval from the
extraordinary meeting of stockholders on October 30 and
officially launch ‘LG Energy
Solution (tentative)’ as a new corporation
exclusively in charge of the battery business
from December 1.
This will be a physical division in which LG Chem will
possess all of the stocks issued by the new battery
corporation and LG Chem will possess 100% of the
non-listed shares of the new corporation.
Regarding this corporate spin-off, LG Chem said, “We
came to the judgment that this is the right time for the
corporate spin-off as the battery industry is growing
rapidly and structural profits in the EV battery sector
are being made in earnest,”
And added, “The corporate spin-off will make it possible
to focus on the specialized business areas and enhance
management efficiency, thereby upgrading corporate value
and stockholder value.”
Regarding the physical division method that will be
used, it was stated, “Improved corporate value through
the growth of the new corporation will also have a
positive impact on the mother company, and we also
considered the advantages from the synergy effects of
the two companies such as R&D cooperation as well as
association of battery materials businesses such as
LG Chem plans to foster the new corporation to achieve
sales of over 30 trillion KRW in
2024 and become the world’s best energy solutions
company based on batteries. The expected revenue of the
new corporation is around 13
trillion KRW this year.
Regarding the IPO (initial public offering) of the new
corporation, it stated that “Nothing is confirmed as of
now and we plan to continuously review it in the
It added, “Cash generated from business activities will
be used as the facility investment funds according to
the increase of EV demands and since LG Chem possesses
100% of the shares, it will be possible to procure the
funds using various methods.”
Background and Effects of Split-Off
The reason why LG Chem decided to split the company
because it judged that this is the optimal point in time
to reevaluate the corporate value and maximize
stockholder value considering the performance of the
battery business and the market situation.
In fact, LG Chem created the foundation for creating
structural profits in the EV battery business and posted
its highest operating profit in the battery business.
Furthermore, it has currently procured more than 150
trillion KRW in orders on hand in the EV battery
business and it is investing over 3 trillion KRW
annually in facilities, and therefore,
the need to procure large
investment funds in a timely fashion has also increased.
Through this division, it will be possible to attract
large investments, while easing financial burdens by
establishing an independent financial structure system
for each business sector.
Another reason for this division is the need for prompt
decision-making to respond to the rapidly changing
market, as well as the rising need for flexible
Through this corporate spin-off, LG Chem will be able to
receive appropriate evaluation of business value for
each of its business fields including the battery
business. In addition, the increased corporate value
with the growth of the new corporation will make it
possible to increase corporate value of the mother
company while maximizing stockholder value.
In addition, it is expected that it will be possible to
focus capacities on areas of expertise while allowing
independent and prompt decision-making according to the
business features, while upgrading management and
LG Chem plans to foster the new corporation to become
the world’s best energy solutions company for not only
battery materials, cells, pack manufacturing and sales,
but also to have distinguished competitiveness in the
E-platform sector that offers various services
throughout the lifetime of batteries such as battery
Moreover, by concentrating investments where needed and
at the right time for the petrochemicals, advanced
materials, and bio sectors, it plans to establish itself
as a ‘Global Top 5 Chemical Company’ with balanced
business portfolios together with the battery business.
Farm Hannong 2016/1/18
Motors Co. said Saturday it has decided to recall electric vehicles equipped
with batteries made by South Korean producer LG Chem Ltd.
due to safety concerns.
The recall covers the Bolt EV produced from 2017 to 2019, installed with LG
Chem’s batteries made from Ochang, 120 kilometers south of Seoul.
The measure came amid concerns that the batteries could cause fires when
The U.S. National Highway Traffic Safety Administration has
launched investigations into three fire cases from the EVs.
The U.S. automotive giant has also developed software that limits battery
charges to 90 percent of their capacity, it added. The program will be
gradually updated for automobiles, starting with North America next week.
GM Korea, the South Korean unit, said there have been no fire cases reported
from the Bolt EVs sold over the period. Nevertheless, the unit will also
cooperate with related authorities to take preemptive measures, it added.
The company, meanwhile, advised customers to change their charging settings
to either “hill top reserve” or “target change level” options, which will
limit the charging capacity to 90 percent.
GM and LG Energy Solution Investing $2.3
Billion in 2nd Ultium Cells Manufacturing Plant in U.S.
- 2.8 million square-foot facility in
Spring Hill, Tennessee, will create 1,300 new manufacturing jobs
- New plant will significantly
increase GM's ability to lead in the production of batteries at scale
- Leading Ultium battery technology is
at the heart of GM’s EV strategy
能力 annual capacity of over 30
gigawatt hours with room to expand.
GMはこの工場で20億ドルを投資し、電気自動車（Cadillac Lyriq など）工場を建設すると発表している。
Ultium Cells LLC,
a joint venture of LG Energy Solution and General Motors, today announced
a more than $2.3 billion investment to build its
second battery cell manufacturing plant in the United States. The facility will
be located in Spring Hill, Tennessee.（GMの組み立て工場がある。）
Ultium Cells will build the new plant on land
leased from GM. The new battery cell plant will create 1,300 new jobs.
Construction on the approximately 2.8 million-square-foot facility will begin
immediately, and the plant is scheduled to open in late
2023. Once operational, the facility will supply battery cells to GM’s
Spring Hill assembly plant.
“The addition of our second all-new Ultium
battery cell plant in the U.S. with our joint venture partner LG Energy Solution
is another major step in our transition to an all-electric future,” said GM
Chairman and CEO Mary Barra. “The support of the state of Tennessee was an
important factor in making this investment in Spring Hill possible and this type
of support will be critical moving forward as we continue to take steps to
transition our manufacturing footprint to support EV production.”
“This partnership with General Motors will
transform Tennessee into another key location for electric vehicle and battery
production. It will allow us to build solid and stable U.S-based supply chains
that enable everything from research, product development and production to the
procurement of raw components,” LG Energy Solution President and CEO Jonghyun
Kim said. "Importantly, I truly believe this coming together transcends a
partnership as it marks a defining moment that will reduce emissions and help to
accelerate the adoption of EVs.”
The state-of-the-art Spring Hill plant will
use the most advanced and efficient battery cell manufacturing processes. The
plant will be extremely flexible and able to adapt to ongoing advances in
technology and materials.
GM’s proprietary Ultium battery technology is
at the heart of the company’s strategy to compete for nearly every EV customer
in the marketplace, whether they are looking for affordable transportation,
luxury vehicles, work trucks, commercial trucks or high-performance machines.
Ultium batteries are unique in the industry
because the large-format, pouch-style cells can be stacked vertically or
horizontally inside the battery pack. This allows engineers to optimize battery
energy storage and layout for each vehicle design. Energy options range from 50
to 200 kilowatt hours, which could enable a GM-estimated range up to 450 miles
or more on a full charge with 0-60 mph acceleration in 3 seconds1.
GM’s future Ultium-powered EVs are designed
for Level 2 and DC fast
charging. Most will have 400-volt battery packs and up to 200 kW fast
charging capability while GM's truck platform will have 800-volt battery packs
and 350 kW fast charging capability.
With a 30-year history in the battery
business, LG Energy Solution has made consistent, large-scale investments to
accumulate enough stability, credibility and manufacturing experience to invent
its own cutting-edge technologies. The company established its first research
facility in the U.S. in the early 2000s. In 2010, the company built its first
U.S battery plant in Holland, Michigan.
Through Ultium Cells, LG Energy Solution and
GM will merge their advanced technologies and capabilities to help accelerate
General Motors has made several announcements in the last 18 months that
underscore its commitment to an all-electric, zero-emissions future, including:
- GM committed more than $27
billion to EV and AV product development, including $7 billion in
2021, and plans to launch 30 EVs globally by the end of 2025, with more than
two-thirds available in North America. Cadillac, GMC, Chevrolet and Buick
will all be represented, with EVs at all price points for work, adventure,
performance and family use.
- In January 2021, GM unveiled BrightDrop,
a new business that aims to electrify and improve the delivery of goods and
services by offering an ecosystem of electric first-to-last-mile products,
software and services to help empower delivery and logistics companies to
move goods more efficiently.
- In October 2020, GM announced it would
$2 billion in its Spring Hill, Tennessee assembly plant to begin the
transition to become the company’s third vehicle manufacturing site to
produce electric vehicles, joining
Factory ZERO in Detroit and Hamtramck, Michigan, and Orion Assembly in
Orion Township, Michigan. The all-new Cadillac LYRIQ will be the first EV
produced at GM’s Spring Hill assembly plant. Production of the Cadillac XT6
and XT5 will continue at Sp
- ring Hill.
- GM’s zero-emissions technology will
extend to fuel cells as the company announced it will supply
its Hydrotec fuel cell power cubes to Navistar for use in its production
model fuel cell electric vehicle.
- In January 2020, GM announced it was
investing more than $2 billion in its
Factory ZERO, formerly the Detroit-Hamtramck assembly plant. Factory
ZERO will be GM’s first plant that is 100 percent devoted to electric
vehicles, and in fall 2021 will start production of the new GMC
HUMMER EV pickup. In addition, Factory ZERO will also build
HUMMER EV SUV and the Chevrolet Silverado electric pickup truck.
- In 2019, GM announced the formation of
Ultium Cells LLC,
a joint venture with LG Energy Solution, to mass-produce battery cells
in Lordstown, Ohio, for future battery-electric vehicles. Construction of
the $2.3 billion facility is well underway.
General Motors is a global company focused on
advancing an all-electric future that is inclusive and accessible to all. At the
heart of this strategy is the Ultium battery platform, which powers everything
from mass-market to high-performance vehicles. General Motors, its subsidiaries
and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun
and Wuling brands. More information on
the company and its subsidiaries, including OnStar,
a global leader in vehicle safety and security services, can be found at https://www.gm.com.
LG Energy Solution is a global leading
battery maker providing the best solutions within the energy sector for a better
world. Based on our 30 years of R&D experience, we deliver the most advanced
batteries that have been infused with cutting-edge technologies to EVs, Energy
Storage Systems (ESS) and Mobility & IT applications across the world. LG Energy
Solution’s Advanced Automotive Battery leads the market with its outstanding
technologies and products. Home to the world's first EV battery lineup, we
provide the best battery solutions for EVs worldwide. For more information about
LG Energy Solution, please visit
1Actual range will vary based
on several factors, including temperature, terrain, battery age, vehicle model,
loading, use and maintenance.