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 diodes (OLEDs).
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.