Go to Contents Go to Navigation

LG Chem to sell LCD biz unit to Chinese company for US$1 bln

All News 09:25 June 10, 2020

SEOUL, June 10 (Yonhap) -- LG Chem Ltd., South Korea's leading chemical company, said Wednesday it has signed a deal to sell its liquid crystal display (LCD) polarizer-related business unit to a Chinese firm for 1.3 trillion won (US$1.1 billion).

LG Chem has decided to sell the LCD polarizer unit to Shanghai Shanshan Chemical Co., Ltd., with the decision subject to an approval from its board of directors, the company said in a statement.

"We are selling the unit of LCD polarizers needed to produce TVs and handsets, but we will keep the unit of LCD polarizers used in automobiles," a company spokesman said over the phone.

The decision is line with the company's plan to foster the high-end organic light emitting diode (OLED) polarizers as its next growth driver, the statement said.

LG Chem to sell LCD biz unit to Chinese company for US$1 bln - 1

kyongae.choi@yna.co.kr
(END)

HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!