[Alpha Biz=(Chicago) Reporter Paul Lee] The LG Chem announced that no specific decision has been made regarding the sale of its stake in LG Energy Solutions, a subsidiary of battery (secondary battery).

In response to the Korea Exchange's demand for an inquiry on the report on the sale of its stake in the LG Energy Solution (373220), the LG Chem (051910) said, "Nothing has been decided yet," adding, "We are considering various ways to raise funds to invest in three new growth engines."

Earlier on the 16th, a media outlet reported that LG Chem is working to sell its stake in LG Energy Solutions worth 2 trillion won to foreign investors. The LG Chem is the largest shareholder with a 81.84% stake in LG Energy Solutions as of the end of March.

The LG Chem is speeding up its efforts to improve its business portfolio due to the worsening petrochemical market following the global economic downturn. Through this, we plan to invest in three new growth engines: battery materials, eco-friendly materials, and innovative new drugs.

 

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