LG Chem bets $9.7 bil. on semiconductors, mobility, robotics materials

LG Chem will be investing 15 trillion won ($9.74 billion) in research and development through 2035 as the company pivots toward artificial intelligence (AI)-driven growth areas, including semiconductors, mobility and robotics. During the company’s town hall meeting on Monday, CEO Kim Dong-choon outlined the strategy to sharpen its portfolio around four core future pillars: semiconductor, mobility and robotics materials and oncology drugs, aiming for a double-digit operating margin by 2030. The move comes as profitability in traditional petrochemical businesses weakens amid global oversupply and intensifying competition. Under the plan, the company will allocate about 70 percent of the investment to strategic sectors, including semiconductor, mobility and robotics materials, while accelerating efforts to secure leading technologies and new AI-enabled applications. To speed up execution, the company has already established a CEO-led new business development unit this month. “LG Chem will strengthen the competitiveness of its existing businesses while concentrating resources on future gr