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LG Demands ‘Reasonable’ Compensation from SK in Battery Row Settlement

LG Demands ‘Reasonable’ Compensation from SK in Battery Row Settlement

SEOUL, March 25 (Korea Bizwire) — LG Chem Ltd. will sternly handle the legal dispute with SK Innovation Co. to receive “reasonable” and “proportionate” compensation for the damage caused by the local rival’s trade secret misappropriation of its battery technology, its CEO said Thursday. Shin Hak-cheol, CEO of LG Chem, which wholly owns the battery [...]

LG Chem Teams Up with Local Startup to Create Resource Circulation Platform

LG Chem Teams Up with Local Startup to Create Resource Circulation Platform

SEOUL, March 24 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Tuesday that it will create a business model centered on environmental, social and governance (ESG) that will encompass the full process of producing, collecting, and recycling plastic waste. The company joined hands with local startup Innerbottle Co. to set up [...]

LG Chem Posts Record Sales in 2020 on Strong Battery Sales

LG Chem Posts Record Sales in 2020 on Strong Battery Sales

SEOUL, Jan. 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday it posted a record revenue in 2020 on strong battery sales, vowing to expand its battery unit’s production capacity to meet growing demand for electric vehicle (EV) batteries. Its annual sales rose 9.9 percent to 30.6 trillion won (US$278.6 [...]

LG Energy Solution Sets Sail to Target Growing EV Market, but Challenges Lie Ahead

LG Energy Solution Sets Sail to Target Growing EV Market, but Challenges Lie Ahead

SEOUL, Dec. 1 (Korea Bizwire) — LG Chem Ltd.’s battery business officially launched its standalone company Tuesday to take a bigger chunk of the growing battery market, but a bumpy road lies ahead to stay on top of the highly competitive industry. Kim Jong-hyun, who served as president of LG Chem’s battery unit, takes the [...]

LG Chem, Neste Sign Strategic Partnership on Renewable Sources

LG Chem, Neste Sign Strategic Partnership on Renewable Sources

SEOUL, Nov. 5 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it will collaborate with Finland-based bio diesel producer Neste to develop renewable materials for its chemical products. LG Chem and Neste signed a strategic long-term partnership to develop biopolymers and biochemicals to reduce use of fossil feedstock in the [...]