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[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Chem Vice Chairman Shin Hak-cheol met with reporters before the start of the Chemical Industry Day commemoration event on the 31st and said, "The petrochemical market is still not easy," and "We are discussing a large contract for cathode materials."
LG Chem's petrochemical division succeeded in turning to the black in the third quarter of this year. It posted an operating profit of 36.6 billion won and ended its deficit march that continued from the fourth quarter of last year. However, concerns about high oil prices and oversupply remain.
Shin drew a line on rumors of the sale of the Yeosu NCC 2 plant, which began operations again in six months this month. "We are in the process of finding strategic options rather than specific (sale) plans," he explained.
LG Chem is focusing on diversifying its cathode material customers, excluding LG Energy Solutions. On the 10th, a long-term supply contract for cathode materials worth 2.8 trillion won was signed with Japanese automaker Toyota.
"We promised to diversify our customers within 4∼5 years," Shin said. "We are fulfilling our promises one by one."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
