History of LG Chem

In 1945, Korea gained independence from Imperial Japan’s colonial rule.
Yonam, who had been running a business in Jinju, renewed his mind for a new departure
toward the new era and relocated his business to Busan, South Korea.

In Busan, Yonam founded Chosun Heungup Company, which was the first trading company
licensed by the US military government, and expanded his business.
It was the beginning of a new horizon in Korea’s petrochemical history.

1960s were a politically and socially turbulent era.
Korea had risen to a developing country by diligently strengthening its foundation of growth along
with the full-scale implementation of the Korean government's Economic Development Plans.
At the same time, Lucky Chemical Co., Ltd. was also establishing its foundation
for a large conglomerate.

Lucky Vinyl Co., Ltd., established in 1959 by Lucky Chemical Co., Ltd.
for the oil and fat business, produced Korea’s first synthetic detergent “Hi Ti” in 1964 and
liquid kitchen detergent “A-pong” and liquid hair detergent “Cream Shampoo” in 1967.
With the production of these products, Korea’s chemical industry moved up one level higher.

Stepping into the era of international competition, Lucky made its name
known throughout the globe by focusing on development of cutting-edge technologies.

This was a period when the company expanded its business areas by establishing
long-term plans based on 1970s’ exponential growth and started to grow into an
international company by entering the world market leveraging the accumulated capital
and technologies.

After 1983, with its core petrochemical business at the center, Lucky moved ahead with
intensified development of its existing fields such as daily products and fine chemistry
as well as with diversification of businesses by re-entering the cosmetics business
and starting the medical and pharmaceutical businesses

The company carried out its transformation into a global company through active overseas investment.

LG Chem, which has continued to grow stable every year since its founding in 1947, is experiencing rapid growth in the 2010s.

Under the vision of “a global company that grows with customers with differentiated high-tech
materials and solutions,” and with the merger of LG Life Sciences in 2017,
it has built a portfolio of four businesses: petrochemical, battery, advanced materials, and life science.

In addition, LG Chem has led the global market by establishing production/sales/research
corporations in overseas locations such as the US, China, and Poland.

As a result, it entered the Top 10 for the first time as a global chemical company as a domestic
chemical company in 2018, and ranked 4th in global brand value in 2019.

In the future, LG Chem will continue to grow toward becoming a global top 5 chemical company by
focusing on fostering next-generation growth engines and strengthening global core competencies.

LG Chem continues the struggle to strengthen the capacity of the company.
In May 2020, we declared our new vision, “We connect science to life for a better future,”

By promoting four major initiatives, LG Chem aims to improve our fundamental constitution,
focusing on customers and the market in all business areas.

In December 2020, the Spun-off Energy Solution Business (LG Energy Solution) basis helped
restructure the organization, preparing for the global market environment and strengthening our
business expertise.

LG Chem will continue to be the leading global chemical company in Korea as we focus on cultivating
next-generation growth engines and strengthening core global competencies.