LG Chem
South Korean chemical company / From Wikipedia, the free encyclopedia
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LG Chem Ltd. (Korean: LG화학), often referred to as LG Chemical, is the largest Korean chemical company[1] and is headquartered in Seoul, South Korea. It was the 9th largest chemical company in the world by sales in 2021.[2] It was first established as the Lucky Chemical Industrial Corporation, which manufactured cosmetics. It is now solely a business-to-business company (consumer products division was spun off into LG Household & Health Care).
Formerly |
|
---|---|
Company type | Public |
KRX: 051910 KRX: 051915 | |
Industry | Chemicals |
Founded | 1947; 77 years ago (1947) |
Headquarters | Seoul, South Korea |
Products |
|
Revenue | KRW 51.865 trillion (2022)[1] |
1,798,159,000 won (2020) | |
KRW 2.195 trillion (2022)[1] | |
Total assets | 41,388,894,000 won (2020) |
Owner | LG Corporation (33%) |
Number of employees | 20,000+ (2022) |
Subsidiaries | LG Energy Solution (81%) |
Website | LG Chem |
The company has eight factories in South Korea and a network of 29 business locations in 15 countries. This network includes a holding company in China, 14 overseas manufacturing subsidiaries, five marketing subsidiaries, seven representative offices, and two R&D centers.[citation needed] The Financial Times reported on April 2, 2017, that LG Chem would be expanding battery production in China. At the time, China accounted for one-third of the company's total sales.[3] In April 2019, LG Chem sued rival SK Innovation for allegedly stealing trade secrets for manufacturing electric vehicle batteries.[4]