LG Chem
Formerly |
|
---|---|
Company type | Chemicals |
Founded | 1947 |
Headquarters | Seoul, South Korea |
Products |
|
Revenue | KRW 51.865 trillion
(2022) LG Corporation (33%) |
Number of employees | 20,000+ (2022) |
Subsidiaries | LG Energy Solution (81%) |
Website | LG Chem |
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).
The company has eight factories in
Business and product areas
Current
LG Chem has three main business areas:
- Petrochemicals
- Advanced materials
- Life sciences
Petrochemicals
LG Chem is a supplier of petrochemicals ranging from basic distillates to specialty
Advanced materials
LG Chem supplies display and optical films, polarizers,
Life sciences
LG Chem acquired AVEO Pharmaceuticals, a U.S. bio firm focused on renal cell carcinoma, for US$571 million in 2023.[8]
Former
Energy solutions
LG Chem completed development and began mass production of Korea's first
LG Chem Michigan is a wholly owned subsidiary of LG Chem based in
Both the Chevrolet Volt and the Ford Focus Electric initially used cells manufactured in Korea by parent LG Chem[20][21] and then later switched to cells produced in LG Chem Michigan's Holland plant once it opened.
In September 2020, LG Chem unveiled its plan to publicly list its energy division under the name of LG Energy Solution by December.[22]
Accidents and incidents
Visakhapatnam gas leak
On 7 May 2020, a gas leak incident that took place at the LG Polymer plant at Gopalapatnam on the outskirts of
Seosan plant explosion
On 19 May 2020, an alkylaluminum-based catalyst powder exploded due to high-pressure while being transported at the packing room of the LG Chem plant at Seosan. The explosion exposed the pyrophoric powder to the air, causing a fire. As a result, a 39-year-old researcher died and two more workers suffered second-degree burns.[25][26][27]
See also
- List of electric-vehicle-battery manufacturers
- VinFast
References
- ^ a b c "LG Chem Ltd". InsideView. Archived from the original on 11 September 2013. Retrieved 10 January 2015.
- ^ Tullo, Alexander H. (24 July 2022). "C&EN's Global Top 50 chemical firms for 2022". Chemical & Engineering News. American Chemical Society. Retrieved 28 September 2023.
- ^ Jung-a, Song (2 April 2017). "LG Chem holds faith in China despite battery of obstacles". Financial Times. Retrieved 3 April 2017.
- ^ Lambert, Fred (30 April 2019). "LG Chem sues SK Innovation over allegedly stealing electric car battery trade secrets". Electrek.
- ^ Maxey, Kyle (31 January 2014). "LG Chem to Supply ABS to Stratasys". Engineering.com. Retrieved 10 January 2015.
- ^ "ABS/SAN". LG Chem. Archived from the original on 19 January 2015. Retrieved 10 January 2015.
- ^ "PVC". LG Chem. Archived from the original on 18 January 2015. Retrieved 10 January 2015.
- ^ "LG Chem completes acquisition of AVEO Pharmaceuticals". Yonhap. Seoul. 19 January 2023.
- ^ "LG Chem — Overseas Sites — Americas — Manufacturing Plants". LG Chem. Archived from the original on 11 January 2015. Retrieved 10 January 2015.
- ^ "LG Chem to establish new electrolyte production plant in Michigan". Green Car Congress. 7 November 2010. Retrieved 19 May 2011.
- ^ Harger, Jim (21 November 2013). "Behind the scenes at LG Chem's advanced battery plant in Holland: It's cleaner than clean". MLive. MLive Media Group. Retrieved 10 January 2015.
- ^ Kim, Soyoung (22 October 2008). "LG Chem to supply GM Volt batteries — sources". Reuters. Retrieved 11 August 2009.
- ^ "BREAKING: LG Chem and Compact Power Inc. to Supply Volt Battery Packs". GM-Volt.com. 22 October 2008. Archived from the original on 18 October 2019. Retrieved 11 August 2009.
- ^ Johnson, Drew (24 October 2008). "GM inks Chevrolet Volt battery contract". Leftlane. Archived from the original on 22 September 2018. Retrieved 11 August 2009.
- ^ Compact Power Inc press release (5 June 2008). "Compact Power, Inc. Wins Lithium-Ion Battery Development Program For General Motors Hybrid Electric Vehicles" (PDF). Archived from the original (PDF) on 24 July 2008. Retrieved 8 June 2008.
- ^ Voelcker, John (August 2008). "Battery Czar". IEEE Spectrum. pp. 32–37.
- ^ "LG Chem Wins GM Supplier of the Year Award". Electric Cars Report. 17 March 2011. Retrieved 19 May 2011.
- ^ "LG Chem — Overseas Sites — Americas — R&D Centers". LG Chem. Archived from the original on 11 January 2015. Retrieved 10 January 2015.
- ^ "Separate Financial Statements, December 31, 2010 and 2009" (PDF). LG Chem, Ltd. p. 19. Retrieved 10 January 2015.
- ^ "GM Chooses LG Chem to Supply Chevy Volt's Lithium-ion Batteries and Will Build the Packs Themselves". GM-Volt.com. 12 January 2009. Archived from the original on 29 January 2019. Retrieved 20 May 2011.
- ^ "Ford Selects Compact Power as Lithium-Ion Battery Pack Supplier for Ford Focus Electric on Sale in 2011" (Press release). Ford Motor Company. 13 July 2010. Archived from the original on 29 April 2012. Retrieved 2 February 2012.
- ^ Taylor, Michael. "Critical Tesla EV Supplier LG Chem To Spin Off Battery Business". Forbes. Retrieved 28 September 2020.
- ^ "Visakhapatnam Gas Leak Live updates: At least 12 killed, 25 critical; CM Reddy announces Rs 1 crore each as relief to kin". The Indian Express. 7 May 2020. Retrieved 7 May 2020.
- ^ "Vizag gas leak live updates: Toll rises to 11, police file case against LG Polymers in Visakhapatnam". The Times of India. Retrieved 7 May 2020.
- ^ "Fire at LG Chem lab in Seosan kills 1, injures 2". Korea JoongAng Daily. 19 May 2020. Retrieved 11 November 2020.
- ^ "(2nd LD) Fire at LG Chem lab kills 1, injures 2". Yonhap News Agency. 19 May 2020. Retrieved 11 November 2020.
- ^ "Fire at LG Chem lab kills 1, injures 2". The Korea Herald. 19 May 2020. Retrieved 11 November 2020.
External links
- Official website
- Business data for LG Chem:
- Business data for LG Chem Pref: