Seoul: LG Chem Ltd., South Korea's leading chemical company, announced its ambitious plan to double sales in its high-end electronic materials sector to 2 trillion won (US$1.3 billion) by the year 2030. This initiative is part of the company's strategy to position electronic materials as a key growth driver.

According to Yonhap News Agency, the plan aims to leverage the growing demand for advanced materials used in emerging technologies such as artificial intelligence (AI) semiconductors, autonomous driving systems, and next-generation displays. To support this strategy, LG Chem has consolidated its research and development teams focused on electronic materials into its Advanced Materials RandD Center.

A company official emphasized the transformation of LG Chem into a technology-focused entity, highlighting its expertise in high-value materials and the utilization of its capabilities and technologies to achieve this goal.

In the year 2025, LG Chem experienced a significant financial shift, reporting a net loss of 977.1 billion won, a stark contrast to the net profit of 515 billion won recorded the previous year, primarily due to a slowdown in the petrochemical and battery materials sectors. Despite this, the company's full-year operating profit saw a 35 percent increase, reaching 1.18 trillion won, although overall sales decreased by 5.7 percent to 45.93 trillion won.