LG Chem strikes quarterly record profit

By Kim Yoo-chul

Staff reporter

LG Chem, South Korea’s top chemical company, is consistently rewriting its records. A surge in asset values and a rare visit by U.S President Barack Obama to its Holland, Mich., plant has helped. Its second quarter record appears to be the icing on the cake.

On Tuesday, LG Chem said it posted 5.028 trillion won in sales during the April-June period, while the operating profit for the latest quarter reached 827.9 billion won. Net profit was 645.7 billion won.

Based on year-on-year comparisons, sales rose by 31.3 percent, while operating profit increased by 31.6 percent. Net profit was up by 36 percent, the LG affiliate said in a regulatory filing to the Korea Exchange (KRX).