Time - INT (2022-06-06)

LG Chem Vice Chairman & CEO Shin Hak Cheol

CONTENT FROM LG CHEM

Celebrating its 75th anniversary this year, LG Chem is one of Korea’s
most sustainable companies, having achieved continuous growth
throughout its long history. LG Chem’s growth is the result of the
company’s eff orts in diversifying its business portfolio to respond
to global industry demands and megatrends, including EV batteries,
high-tech IT and battery materials, and bio products and solutions.

CEO Shin Hak Cheol said LG Chem will achieve its goal of becoming
a top global science company, guided by strong ESG values. The
company’s strategy is being driven by the World Economic Forum’s
The Great Reset initiative that seeks to improve the post-pandemic
world through solutions such as climate action and digital
transformation.

Q. From a sustainability standpoint, what are some of LG Chem’s
current challenges?
A. Our primary focus is reducing carbon emissions to combat climate
change, which is directly linked to the survival of humanity. Governments
are rushing to transition to low carbon societies. The number of companies
that have pledged to achieve carbon neutrality doubled in the past year. To
be a disruptor in this increasingly busy space, LG Chem believes in creating
blue oceans by proactively tapping into unexplored opportunities and new
markets.

Q. What are some of LG Chem’s eff orts towards carbon neutrality?
A. In 2019, we set the fi rst carbon-neutrality goals in the Korean chemical
industry, pledging to achieve net-zero carbon emissions by 2050. Toward
this end, our plan is to conduct lifecycle assessments on all our domestic
and global products by next year. Scope 3 emissions account for 65 percent
of LG Chem’s total carbon emissions. To address this, we are decarbonizing
and improving the management of our supply chains.

Q. Your goal is to be a ‘top global science company’ guided by ESG.

How will you achieve this?

A. Climate change and the COVID-19 pandemic have changed the world.

What was successful for LG Chem in the past cannot guarantee success

in the future. ESG values are essential to LG Chem. They power our three

new growth engines: our sustainability business, battery materials, and

innovative new drugs, while also innovating our entire business portfolio.

Q. These seem like rather challenging goals. How will you cultivate

these growth engines?

A. We are reinforcing sustainability and circular economy solutions. We

are working with global partners on recyclable materials, bio/biodegradable

materials, and renewable energy materials for energy transition.

Battery materials is our fastest growing new engine. We plan to become

the world’s best comprehensive battery materials company through

various product lineups including anode materials, separators, and carbon

nanotubes (CNTs).

Our life sciences business will become a global pharmaceutical leader,

pioneering innovative new anticancer, diabetes, and metabolism drugs. We

have ten new drugs undergoing Phase 1 clinical trials or higher, and are

working to increase this to 23 by 2030.

New growth engines in the areas of sustainability business, battery materials and

innovative new drugs will secure LG Chem’s position as a top global science company

ESG values are essential to

LG Chem’s growth and success

Sustainability

Business

Battery

Materials

Innovative

New Drugs

New Growth Objectives

Engines

Lead the industry’s Great Reset in three major areas:

mechanical/chemical recycling, biodegradables/bio,

and renewable energy materials.

Become the world’s best comprehensive battery

materials company by expanding global productions

of anode materials, separators, and CNTs as well as

initiating the battery recycling business

Launch innovative new drugs globally by accelerating

clinical trials for medications that treat diseases such

as gout (Phase 2 completed, U.S. ), rare obesity

( undergoing Phase 1, U.S. ), and NASH ( undergoing

Phase 1, U.S. ).

NNew Growthew Growth Objectives

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