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304,500 KRW
2.5
0.83%
Last update Apr 3, 3:00 PM KST
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299,500
311,500
Previous close
302,000
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Lg Chem Ltd.
304,500.00
2.50K
0.83%

Overview

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Description

LG Chem Ltd. is a globally recognized player in the chemical and high-tech materials industry, headquartered in Seoul, South Korea. Its primary function is to produce a diverse range of chemical products, encompassing petrochemicals, advanced materials, and life sciences, which play a crucial role in multiple sectors including the automotive, electronics, and healthcare industries. LG Chem leads in the production of rechargeable battery materials, particularly for Electric Vehicles (EVs), driving advancements in green technology and contributing significantly to sustainable mobility solutions worldwide. The company also maintains a strong position in the market for polymers and performance materials, catering to industrial and consumer needs. With an emphasis on innovation and research, LG Chem is pivotal in shaping the future of clean energy, advanced materials, and life-enhancing biotechnologies. Its market significance is underscored by its comprehensive portfolio that supports global supply chains and positions the company as a key contributor to technological and environmental advancements.

About

CEO
Mr. Hak-Cheol Shin
Employees
14011
Address
LG Twin Towers
128, Yeoui-daero Yeongdeungpo-gu
Seoul
Phone
82 2 3773 1114
Website
Instrument type
Common stock
Sector
Basic Materials
Industry
Chemicals
Country
South Korea
MIC code
XKRX
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Latest press releases

Feb 13, 2025
LG Chem Accelerates Commercial Production of 100% Plant-Based Acrylic Acid
  • LG Chem has launched prototype production of 100% bio-acrylic acid, which has received USDA Certified Biobased Product (BIOPREFERRED®) label.
  • The product is derived from 3HP made through a microbial fermentation process, offering the same properties as conventional acrylic acid and providing a sustainable solution for cosmetics and diaper raw materials
  • With an initial production capacity of 100 metric tons per year, LG Chem plans to scale up production if demand for eco-friendly raw materials increases

SEOUL, South Korea, Feb. 12, 2025 /PRNewswire/ -- LG Chem is entering the global market with eco-friendly raw materials derived from vegetable oils. The company announced that it will commence the production of bio-acrylic acid in the second quarter of this year. Production capacity shall ramp up to 100 metric tons (MT) of prototype annually.

Bio-acrylic acid can be applied to various materials, including cosmetic ingredients that directly contact the skin, super absorbent polymers (SAP) for diapers, adhesives for electronics and vehicles, coating materials, and eco-friendly paints. Although attempts to develop bio-acrylic acid technology have been made worldwide, none have reached commercialization until now.

LG Chem's bio-acrylic acid is made from 3-Hydroxypropionic acid (3HP), produced by microbial fermentation of plant-based raw materials. The product retains the same molecular structure and properties as conventional acrylic acid while being entirely plant-based.

LG Chem developed its 3HP strain and fermentation technology in-house, earning the United States Department of Agriculture (USDA) Certified Biobased Product label, confirming it as 100% bio-based last year.

Starting with prototype production, the company plans to actively promote the product to sustainability-driven companies in North America and Europe. The cosmetics industry, which increasingly demands plant-based and naturally derived ingredients without compromising functionality, is expected to be a key market for bio-acrylic acid.

LG Chem plans to operate a customized bio-acrylic acid production system that can respond immediately to customer needs and is considering expanding production facilities if market demand increases.

"We expect bio-acrylic acid to be an innovative product that meets the sustainability needs of our customers and the market. We will continue leading the development of eco-friendly technologies," said Song Byung-Keun, Senior Vice President and Head of Acrylates/SAP Business Unit at LG Chem.

About LG Chem

LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 48.9 trillion (USD 33.6 billion) in 2024. For more information, please visit www.lgchem.com.

For media enquiries, please contact: 

Son Junil

lgchempr@lgchem.com 

Liz Choi

lgchempr@webershandwick.com 

Cision View original content:https://www.prnewswire.com/news-releases/lg-chem-accelerates-commercial-production-of-100-plant-based-acrylic-acid-302374643.html

SOURCE LG Chem

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