LG

■ Next generation materials and 3rd generation long-range EV batteries capable of travelling 500km plus took center stage in strategic discussions.
 
■ LG strengthened its competitive edge for the future following a recent visit to LG Electronics’ R&D center to asses equipment technology designed to improve manufacturing and production capabilities.
 
 
On August 29th, LG Corp. Chairman and CEO Kwang Mo Koo paid a strategic visit to LG Chem’s R&D campus in Daejeon to explore the company’s pioneering efforts to build advanced materials and innovative components. The visit follows the chairman’s visit to LG Electronics’ R&D center last month, when he discussed equipment technologies and production strategies to strengthen the competitiveness of LG’s materials, components, and manufacturing equipment business. 
 
While at LG Chem’s R&D campus, the chairman engaged the company’s R&D leadership on the development status and strategic outlook for next-generation materials. Among the focal points were third-generation electric vehicle batteries capable of helping cars travel over 500 kilometers on a single charge, a revolutionary OLED process technology called Soluble OLED, and Metallocene Polyolefin Elastomer, another high-value petrochemical innovation.
 
The advent of third-generation electric vehicle batteries represents a significant leap forward, promising improved range and performance over previous battery iterations. First generation batteries could only travel a maximum 160km, while second-generation batteries offered an improvement with a range of between 320 and 500 kilometers. With the EV market poised for exponential growth from 2020 onwards, these new longer distance batteries are being aimed at propelling EVs toward mainstream adoption, while revolutionizing the secondary battery market.
 
LG is currently at the forefront of the OLED trend and Soluble OLED is emerging as yet another cornerstone of the company’s R&D efforts to maintain its industry dominance with next generation technologies. This groundbreaking approach offers a cost-effective alternative to conventional OLED production methods, streamlining production processes and driving down costs while maintaining superior quality. LG Chem acquired all tangible and intangible assets including technology, research, and production facilities for Soluble OLEDs from DuPont in April. Soluble OLEDS differ from the conventional deposition method of manufacturing OLEDs in that organic materials are first heated and then evaporated in a vacuum before being applied to the panel. Spraying vaporized organic materials directly onto the panel reduces production costs and shortens production time.
 
Metallocene Polyolefin Elastomer stands out as a versatile plastic synthetic resin, yet only 5 companies worldwide have the metallocene catalyst technology needed to produce it – and LG Chem is one of the five. It can be processed to a high degree of quality and with high durability. It also boasts a wide range of applications from automotive components, including impact reinforcements for bumpers, to packaging materials for solar panels. The innovation positions LG Chem as a formidable player in the global market, giving it a competitive edge over petrochemical rivals in China which are significantly expanding their capacity for general-purpose resins.
 
Mr. Koo’s visit to LG Chem's R&D campus was attended by several key corporate leaders, including Ro Ki-soo, CTO of LG Chem, Kim Myung-hwan, President of LG Chem's Battery Research Center, Kwon Young-soo, Vice Chairman of LG Corp., and Ahn Seung-kwon, President of LG Sciencepark. The presence of the high-powered delegation underscored the significance of collaborative efforts in driving technological advancement.
 
Mr. Koo has consistently demonstrated a proactive model of leadership that prioritizes engagement with R&D talent at technology conferences and events, with the aim of recognizing and fostering innovation. In February and April, the company held events for R&D master's and doctoral students in Korea and the U.S. to secure top-tier R&D talent. Mr. Koo also visited LG Technology Ventures in Silicon Valley in April to review its operations and investment portfolio, and attended events such as the LG Awards to recognize customer-centric innovations. In March, he attended the LG Awards at Seoul’s LG Sciencepark to acknowledge and encourage teams that have created outstanding customer value innovations. His recent visit to LG Electronics' R&D Center in Pyeongtaek in July was aimed at learning about equipment-related technologies and improving manufacturing capabilities and strategies. Mr. Koo's visionary approach reflects LG's unwavering commitment to pioneering breakthroughs that shape the future.