LG Chem to Invest 15 Trillion Won by 2035 in New Growth Areas
Quick Look
- LG Chem announced plans to invest 15 trillion won (US$9.74 billion) by 2035 in R&D for semiconductor, mobility, robotics materials, and anticancer drugs.
- CEO Kim Dong-chun stated the goal is to diversify beyond petrochemicals into high-value sectors, with 70% of the investment targeting materials for semiconductors, mobility, and robotics.
AI-generated summary
Why It Matters
LG Chem is investing heavily in R&D to diversify its business portfolio beyond petrochemicals and enter high-value sectors like semiconductor materials and anticancer drugs.
SEOUL, June 23 (Yonhap) -- LG Chem Ltd. has outlined plans to invest 15 trillion won (US$9.74 billion) in research and development by 2035 to foster new growth drivers in semiconductor, mobility and robotics materials as well as anticancer drugs.
Chief Executive Officer (CEO) Kim Dong-chun unveiled the plan during a town hall meeting on Monday, as the company seeks to diversify its portfolio beyond its traditional petrochemical business and expand into high-value-added sectors.
"We will upgrade our business portfolio by fostering semiconductor, mobility and robotics materials, as well as anticancer drugs, as our core future growth businesses," Kim was quoted as saying.
Of the total investment, LG Chem plans to allocate 70 percent to semiconductor, mobility and robotics materials, while focusing on securing leading technologies and developing new artificial intelligence-based applications.
The company will focus on advanced packaging materials in the semiconductor segment, while expanding its mobility and robotics materials business into areas such as structural materials for robots, as well as precision drive and bonding materials.
For its anticancer drug business, LG Chem aims to strengthen its pipeline through global clinical trials and strategic partnerships.
What to Watch
AI outlook — possibilities, not facts
LG Chem will successfully develop leading technologies in semiconductor, mobility, and robotics materials.
Possible · Long term
Open Questions
- Specific details on strategic partnerships for anticancer drugs.
- Timeline for key technology development milestones.
