LG Chem Implements Voluntary Retirement for Remaining Water Solutions Employees After Divestment

Initiating Reorganization of Remaining Division After Divestment
Final Steps in Disposal of Non-Core Businesses

LG Chem is conducting a voluntary retirement program for the remaining employees of its Water Solutions division, which was sold last year.

LG Chem CI.

According to industry sources on April 15, LG Chem has recently been accepting applications for voluntary retirement from some of the employees who remained after the sale of its reverse osmosis (RO) membrane filter business. This move is seen as the final phase of the personnel reassignment process that has continued since the divestment.

Previously, LG Chem had accelerated the disposal of non-core assets by successively selling its polarizer film materials business and, subsequently, the Water Solutions business. The current voluntary retirement program is also largely seen as a follow-up measure to further downsize the remaining organization of the divested division.

The company is emphasizing that the process is based on voluntary applications. An LG Chem representative stated, "The procedure is only carried out for those who wish to participate among the employees related to the divested business."

Industry observers note that the sale of businesses and workforce restructuring are coinciding, signaling that the company’s transformation toward a focus on advanced materials is gaining momentum.

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