LG Chem is an integrated chemical company that manufactures a wide range of products from petrochemical goods to high-value added plastics, and high performance industrial materials. It also produces high-tech materials for electronics such as rechargeable batteries and liquid crystal display (LCD) display materials.
The company is based in South Korea and has around 10,000 employees worldwide. Its manufacturing subsidiaries are located in China, India, Indonesia, South Korea, Thailand and Vietnam.
LG Chem's business is comprised of three major areas: chemicals and polymers; industrial materials; and information and electronic materials.
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On 1 April 2000, LG Chemical demerged into three separate companies - LGCI, LG Chem and LG Household & Health Care.
LG Chem had previously announced on 20 December 2005 that it would merge with LG Daesan.
In July 2007, LG Chem merged with affiliate LG Petrochemical to reform its financial structure and achieve operational efficiencies.
Chemicals and polymers
LG Chem’s major polyvinyl chloride (PVC) production includes straight resin, paste resin and specialty PVC resin which are widely used in pipes, soft and rigid sheets, sashes, and floorings. Having acquired Hyundai Petrochemical’s PVC operations and expanding its Chinese production facility.
Styrenic resins acrylonitrile-butadiene-styrene (ABS), polystyrene (PS), styrene acrylonitrile (SAN), expandable polystyrene (EPS), which are produced from styrene monomer (SM), the main raw material, have an extensive range of applications including electric and electronic devices and telecommunication components; interior and exterior automotive components; and everyday plastics such as electronic home appliances, toys, disposable containers and general merchandise.
LG Chem’s Yeosu Petrochemical complex produces low density polyethylene (LDPE) and high density polyethylene (HDPE) and cable polyethylene (PE) products that have mechanical properties, optical properties, chemical resistance, and electric insulation.
Acrylic acid and acrylate are used widely as raw materials for high absorbent resin, textiles, paints, adhesives, and impact modifiers due to their reaction qualities. LG Chem’s acrylate business unit is said to have become a recognised leader in the Asian market, due to its continuous R&D investment.
LG Chem’s engineering plastics include mechanical and thermal properties to be used as structural materials. Moreover, they are recognised as alternatives for metals or thermosets. They can be produced through a variety of moulding methods and are used extensively in automobile components, electronic and electronic components, and precision machinery.
LG Chem’s specialty resin products include methacrylate butadiene styrene terpolymer (MBS), which enhances impact resistance of PVC and styrene-butadiene-styrene block copolymer (SBS). It has similar elasticity to rubber and is used extensively in asphalt, waterproof sheets, adhesives, shoe manufacturing, and styrene polybutadiene (SB) latex, which is used as a paper coating binder.
LG Chem produces solid nitrile rubber (NBR), styrene butadiene rubber (SBR) and butadiene rubber (BR) at its manufacturing site in Daesan, South Korea.
In the industrial materials business, it produces products with a wide range of functional characteristics. Some of its products include window frames for balconies, system windows, assembly type bathroom, and doors. In addition, the company produces floor and wall coverings for decorative purposes.
LG Chem is also a producer of automotive plastic parts and textile manufacturer, delivering products to local car producers. For various types of automotive interior and exterior materials parts, it produces instrument panel, door trim, pillar trim, radiator grille, back panel, and various bumper systems, based on high tech moulding, forming plating and painting technologies.
In the engine parts sector, it substitutes existing aluminium or steel parts with plastics, thereby making cars lighter, with less noise. It is also pursuing the installation for multi-layer plastic fuel tanks.
Information and electronic materials
LG Chem produces a range of information and electronic materials that are used in:
Printed circuit materials
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LG Chem’s strategy focuses on boosting the competitiveness of its major businesses, securing future growth, pursuing R&D, upgrading customer satisfaction, and transforming the way it does its business. (Edited from: “chief executive officer's message"). ICIS also provides you with key financial data listed in table form.
More about LG Chem Strategy & Financial Highlights
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