LG Chem "No Specific Decision Made on LG Energy Solution Stake Sale"

LG Chem stated on the 21st in response to the Korea Exchange's inquiry regarding reports on the sale of shares in its battery subsidiary LG Energy Solution, "Nothing has been concretely decided yet."

Through a disclosure on the same day, LG Chem said, "The company is reviewing various funding options for investments in three new growth engines."

Earlier, there were reports that LG Chem, which holds about 82% of LG Energy Solution shares, was working to sell 2 trillion won worth of LG Energy Solution shares to overseas investors.

Due to the deterioration of the petrochemical market caused by the global economic downturn, LG Chem is accelerating efforts to improve its business structure through restructuring.

On the 19th, Noh Guk-rae, head of LG Chem's Petrochemical Business Division, told division employees, "We cannot delay restructuring in uncompetitive marginal businesses within the commodity sector," adding, "We will reorganize the business structure through shutdowns, business withdrawals, and share sales, and promote workforce reallocation."

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