By Kim Yoo-chul
Staff Reporter
LG Chem dates back to 1947, when it was founded under the name of Lucky Chemical Industrial.
Now, the LG affiliate is the largest chemical firm in Korea.
Sales reached 15.8 trillion won last year, with its operating profit exceeding 2 trillion won, a 70-percent jump from the previous year.
Peter Bahnsuk Kim, 61, took over as CEO in 2006.
Kim was retained in his post in last year’s LG reshuffle for his company’s outstanding performance.
The company has eight domestic plants and one research facility, while maintaining an overseas network of 26 offices and factories.
Its portfolio is divided into petrochemicals and information and electronic materials.
Its petrochemical operation runs two naphtha cracking centers or NCC in the cities of Yeosu and Daesan, producing polyolefin, synthetic rubber used in tires and shoes, PVC, ABS and other engineering plastics.
Its information and electronic materials operations produce small- to large-sized rechargeable batteries used from high-end portable devices to electric cars.
It is enlarging its market share for lithium- ion and lithium-polymer batteries used in consumer electronics products such as notebook PCs and mobile phones.
In advanced rechargeable batteries for electric cars, it is a dominant player, being selected as the supplier for GM’s Volt.
Its clientele includes LG Electronics, Nokia, Toshiba, Acer, Lenovo, Motorola, Hyundai-Kia Automotive Group, Apple, Dell, Hewlett-Packard, Sony-Ericsson and Palm.
LG Chem is also the leader in LCD polarizer ― the key component in making an LCD panel. LG Display, Samsung Electronics, AUO, BOE and Sharp are some of its key customers.
The firm is expected to outperform in terms of sales and profit this year, thanks to rising demand for petrochemical products and rechargeable batteries.
Some analysts forecast its total sales will exceed over 20 trillion won this year, outstripping its earlier target of 16.3 trillion won.