LG Chem announced on Monday its strategic plan to double its electronic materials business to 2 trillion won ($1.3 billion) by 2030, underscoring its commitment to transitioning towards a portfolio of high-value advanced materials.
This ambitious goal is driven by the escalating demand for specialized materials crucial for advancing artificial intelligence infrastructure and the electric vehicle (EV) market. LG Chem has pinpointed semiconductors, electronic materials, and next-generation displays as key sectors for future growth and investment.
To enhance its competitive edge, the company has established a dedicated advanced R&D unit within its Advanced Materials Research Center. This unit brings together a team of hundreds of expert researchers, concentrating on precision material design and innovative process technologies.
LG Chem is also strategically expanding its presence in semiconductor packaging materials tailored for AI and non-memory applications. This builds upon the company’s existing expertise in copper clad laminate (CCL) and die attach film (DAF), in addition to its newly developed photo imageable dielectric (PID) technology.
The company stated that it is collaborating with leading global semiconductor manufacturers to meet the increasing demand for high-performance materials used in advanced AI and high-performance computing (HPC) applications.
In the realm of automotive electronics, LG Chem is scaling up its production and supply of high-value materials for essential components such as electric motors, power semiconductors, sensors, and thermal adhesives specifically designed for energy storage systems (ESS).
Furthermore, LG Chem is aiming for market leadership in next-generation display materials, capitalizing on its proprietary design capabilities and extensive patent portfolio in the display technology field.
“LG Chem has rapidly transformed its portfolio from petrochemicals to advanced materials,” said CEO Kim Dong-chun. “We will focus our capabilities on future materials to become a technology-driven, high-value advanced materials company.”
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