LG Chem
LG Chem Ltd. (Korean: LG화학), often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 9th largest chemical company in the world by sales in 2021. 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 |
Traded as | KRX: 051910 KRX: 051915 |
| Industry | Chemicals |
| Founded | 1947 |
| Headquarters | Seoul, South Korea |
| Products |
|
| Revenue | KRW 51.865 trillion (2022) |
| 1,798,159,000 won (2020) | |
Net income | KRW 2.195 trillion (2022) |
| 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. 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. In April 2019, LG Chem sued rival SK Innovation for allegedly stealing trade secrets for manufacturing electric vehicle batteries.