[Alpha Biz=(Chicago) Reporter Kim Jisun] The LG Chem is planning to sell its Cheongju plant and Ochang plant in North Chungcheong Province, which produce films and polarizing panels for displays.

According to the industry on the 23rd, LG Chem held a sales briefing for employees of the two plants on the 21st.

An LG Chem official said, "We are pushing for the sale of a factory that produces information technology (IT) films," he said. "However, we have not made a specific decision."

While annual sales of display films have reached hundreds of billions of won due to intensifying price competition due to the recent expansion of production by Chinese companies, profitability has been falling.

The LG Chem is taking a strategy to reduce marginal businesses with weak competitiveness, including the display film plant, and focus on areas with growth engines such as battery materials.

Following the sale of the naphtha cracking facility (NCC) in Yeosu, Jeollanam-do, a key facility for petrochemicals, the company completed the demolition of the styrene monomer (SM) plant at its Daesan plant in May. In 2020, the company sold its liquid crystal display (LCD) polarized film business to a Chinese company and organized its spot adhesive (OCA) business.

 

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