LG Chem seeks to sell IT film business to improve competitiveness

LG Chem

24/08/2023 02:00

SEOUL, Aug 24 (Reuters) - South Korean petrochemicals
maker LG Chem Ltd  051910.KS  said on Thursday it is seeking to
sell its information technology film business in an effort to
improve the company's competitiveness. 
    "We are pursuing plans to sell our film business as part of
our effort to strengthen our business competitiveness focusing
on the three new growth engines, but no specific decisions have
been made," an LG spokesperson told Reuters. 
    LG Chem previously said the company is counting on its
battery materials, sustainability business and innovative drugs
to power its growth, which is expected to make up 57% of the
company's total sales in 2030. 
    In July, LG Chem said it was considering various ways of
improving its competitiveness following media reports that it
was seeking to sell its naphtha cracker in Yeosu. 

 (Reporting by Heekyong Yang; editing by Diane Craft)
 ((Heekyong.Yang@thomsonreuters.com;))