Company targets chips, mobility, batteries, oncology, as it reshapes portfolio around future-growth sectors LG Chem CEO Kim Dong-choon speaks in a meeting with employees at the company headquarters in Seoul on June 22. (LG Chem) LG Chem is doubling down on transformation from a petrochemical-focused company into a materials powerhouse centered on semiconductors, mobility and batteries, as it aims to rebuild its business portfolio in alignment with future-leading industries.The company previously announced its road map to invest 15 trillion won ($10.8 billion) in research and development through 2035 with about 70 percent earmarked for future growth sectors. It has also established a new organization directly under CEO Kim Dong-choon to identify new businesses and carry out strategies.As the rapid spread of artificial intelligence and high-performance computing is driving the semiconductor industry toward increasingly dense and multilayered packaging, materials that provide insulation, adhesion and heat dissipation are becoming more essential to improving chip performance.Building on its accumulated expertise in memory semiconductor materials, LG Chem is expanding into packaging materials for AI and non-memory chips. The company has developed technologies for materials such as copper-clad laminates and die attach films. It recently completed development of photo-imageable dielectric, a material used to create fine circuits while expanding collaboration with global semiconductor firms.LG Chem said it aims to eventually double the size of its annual electronic materials business from about 1 trillion won currently to 2 trillion won by 2030, driven primarily by advanced packaging materials.The company is also betting big on materials for next-generation mobility, including switchable glazing film that can control the transparency of automotive glass and photopolymer films for holographic windshield displays. In robotics, LG Chem plans to dig deeper into structural materials as well as materials for precision drive systems and bonding, building a broader portfolio to take the lead in emerging sectors.Battery materials remain another core pillar of LG Chem's future-growth strategy. The company is bolstering development of next-generation cathode materials, including high-voltage midnickel, lithium manganese-rich and lithium iron phosphate chemistries as it continues to invest in future battery technologies such as sodium-ion batteries.Going beyond electronic materials, LG Chem is ramping up its biotechnology efforts around oncology by advancing pipelines that include treatments for head and neck cancer and immuno-oncology candidates. It is seeking additional cancer drug candidates while using global clinical development and partnerships to strengthen its pipeline.LC Chem's US subsidiary AVEO Oncology serves as a base for global drug development and commercialization while the firm is seeking partnerships in markets such as China to broaden its international pharmaceutical footprint."LG Chem is strengthening the competitiveness of its existing businesses while concentrating its capabilities on future-growth businesses centered on semiconductors, mobility and robotics materials and oncology drugs," said Kim, CEO of LG Chem."Based on our accumulated technologies and global customer base, we will take a leap forward as a company leading innovation in future industries."