LG Chem is set to significantly bolster its future growth engines, committing a substantial 15 trillion won ($9.8 billion) to research and development by 2035. A strategic 70 percent of this substantial investment will be channeled into pioneering materials for semiconductors, mobility, and robotics, marking a decisive pivot towards high-potential, high-growth sectors.
This ambitious roadmap was unveiled by CEO Kim Dong-choon during a recent company-wide town hall meeting. He clearly articulated LG Chem’s refined strategy, which centers on establishing market leadership in advanced materials for semiconductors, cutting-edge solutions for mobility and robotics, and innovative oncology therapeutics as its core future business pillars.
The shift comes amidst a challenging landscape for traditional chemistry businesses, where global oversupply and fierce competition are impacting profitability. To navigate these headwinds, LG Chem is not only reinforcing the competitiveness of its foundational operations but also strategically leveraging its unparalleled technological expertise and robust global customer base to aggressively expand into high-value-added, sustainable industries.
Within the critical semiconductor infrastructure sector, LG Chem is intensifying its focus on achieving a definitive competitive edge in advanced packaging materials. This involves aggressive expansion in developing high-value-added products like specialized packaging adhesives and prioritizing pivotal materials such as PID, DAF, and CCL. Through these strategic efforts, the company targets growing its electric materials business to an impressive 2-trillion-won market valuation by 2030.
For the rapidly evolving mobility and robotics sector, LG Chem is significantly broadening its business scope to encompass advanced robot structural materials, alongside precision drive and joining materials. By strategically leveraging the robust technological barriers established through collaborative joint development with key customers, LG Chem is poised to cultivate stable and sustainable new profit streams.
In the vital oncology therapeutics sector, LG Chem is robustly strengthening its drug pipelines, underpinned by extensive global clinical trials and strategic partnerships. The company is actively pursuing accelerated commercialization and sustainable mid- to long-term growth through targeted technology transfers and strategic mergers and acquisitions (M&As).
“LG Chem is committed to reinforcing the competitiveness of its established business areas while strategically directing its core capabilities towards high-potential future growth sectors like semiconductors and advanced robotics materials,” affirmed CEO Kim Dong-choon. “Our vision is to evolve into a truly tech-driven, transformative company, leading the way in innovation.”
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