LG Chem Unveils Ambitious R&D Investment Strategy Through 2035

Deep News06-23 13:10

LG Chem has announced its intention to invest 15 trillion Korean won, approximately $9.74 billion, in research and development by the year 2035, aiming to foster new growth drivers in areas such as semiconductor, mobility and robotics materials, as well as anti-cancer drugs.

LG Chem's Chief Executive Officer Kim Dong-chun revealed this strategic plan during a company-wide meeting on Monday. This initiative is designed to drive business diversification, moving beyond the company's reliance on traditional petrochemical operations and expanding into high-value-added sectors.

"We will upgrade our business portfolio by focusing on core future growth businesses such as semiconductor, mobility and robotics materials, and anti-cancer drugs," he stated.

Initial Investment Focus

Of the total investment amount, LG Chem plans to allocate 70% towards semiconductor, mobility, and robotics materials. This focus will center on acquiring leading-edge technologies and developing new applications powered by artificial intelligence.

Strategic Business Areas

The company will concentrate on advanced packaging materials within the semiconductor field. Concurrently, it aims to expand its mobility and robotics materials business into new domains, including structural materials for robots, precision actuation materials, and adhesive materials.

Regarding its anti-cancer drug business, LG Chem plans to strengthen its research and development pipeline through global clinical trials and strategic partnerships.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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