LG Chem reshapes portfolio amid petrochemical downturn

LG Chem is reshaping its business portfolio around four growth engines as it responds to a prolonged downturn in the petrochemical industry and rising demand driven by artificial intelligence (AI) and electrification.

The company has expanded its long-term growth strategy by adding high-value specialty materials to its existing growth pillars — battery materials for e-mobility, innovative pharmaceuticals and sustainability — aiming to more than triple its revenue from the four growth businesses by 2030.

The four businesses generated 5.8 trillion won, accounting for 22 percent of the company's total revenue in 2024.

The first growth pillar centers on battery and electronic materials as demand grows across electric vehicles (EVs), semiconductors and AI-related applications.

In battery materials, LG Chem is focusing on advanced cathode technologies, including high-voltage mid-nickel cathodes, lithium manganese-rich cathodes and lithium iron phosphate materials, while also developing next-generation materials for sodium-ion batteries.

The company is also expanding semiconductor packaging ...