[Alpha Biz=(Chicago) Reporter Paul Lee] Shin Hak-chul, vice chairman of LG Chem, said on the 28th, "We will invest 10 trillion won by 2025 in three new growth engine business areas: battery materials, sustainable solutions centered on eco-friendly materials, and global new drugs."
"We plan to foster sales in the business area to around 30 trillion won in 2030," Vice Chairman Shin said at the 22nd regular shareholders' meeting held at the LG Twin Tower in Yeouido, Seoul.
He added, "We will strengthen our business competitiveness in the entire value chain by securing competitive metals and cooperation in battery recycling business."
Regarding the sustainable solution business, the company plans to foster it as a key pillar of LG Chem by securing active external cooperation and business capabilities. It also announced plans for the new drug sector.
"We have taken the first step to become a global new drug company through the acquisition of AVEO," Vice Chairman Shin said. "We will secure commercialization capabilities in the U.S. in the future and continue to expand new drug pipelines to secure competitiveness."
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