LG Chem, Integration of CEM Business Division

[Asia Economy Reporter Choi Dae-yeol] Shin Hak-cheol, Vice Chairman of LG Chem, and key executives held a new start declaration ceremony on the 1st at the Chemical & Electronic Materials (CEM) plant in Cheongju, Chungbuk. The CEM division, acquired by LG Chem from LG Electronics, will be operated as a direct organization within the Advanced Materials Business Headquarters to stabilize the business.

The event, held via online streaming, was organized to welcome the CEM division as a part of LG Chem. LG Chem executives toured the plant individually to encourage employees. Nam Cheol, Head of LG Chem's Advanced Business Headquarters, shared a mid- to long-term plan with employees to rapidly capture the market centered on battery, IT materials, and automotive sectors and to leap forward as a world-class materials business. Vice Chairman Shin Hak-cheol said, "We will spare no support necessary not only for business growth through customer value creation but also for individual growth," adding, "We will create a warm and considerate organizational culture and encourage and support leaders to achieve this."

The CEM division produced battery materials such as separator coating and display materials under LG Electronics' BS (Business Solutions) Business Headquarters. In July, LG Chem acquired it for 525 billion KRW to focus on nurturing the battery materials business. Last month, LG Chem announced plans to build a separator joint venture with Japan's Toray in Hungary and invest over 1 trillion KRW by 2028. The CEM division has plants in Cheongju, Hangzhou in China, and Wroclaw in Poland, with about 800 employees.

This content was produced with the assistance of AI translation services.