South Korea’s battery maker LG Chem's chief Park Jin-soo said, "Energy, water and bio are necessary factors as long as human exist," during a press briefing at its plant located in Ohchang, adding, "We will foster energy business including battery as well as water business including water treatment RO filter to grow them into global business through active investment."
LG Chem plans to focus on eco-friendly vehicle materials such as EP, SSPR, innovative battery, thermoelectric material and fuel cell materials which can overcome technological and theoretical limitations of batteries.
As for water business, the company said it would focus on water treatment RO filter which will be extended in Cheongju by investing 40 billion won. For the bio sector, it plans to create a new market by watching for an opportunity centering on agriculture and fisheries such as crop protective agent and seed by watching out an opportunity.
Park said, "A big demand is expected in the three sectors thanks to the continued rising population and the GDP growth of emerging nations," adding, "business which can offer relevant solution is expected to grow further."
"We are planning to strengthen research and development, secure production capacity and promote merger and acquisition in the areas of energy, water and bio," he said, adding, "The intensity of the change LG Chem is trying to push ahead with will be higher than ever."
Park also said, "In the new normal era where low growth, low interest rate, high unemployment rate and debt rise are taken for granted, it will be harder than the Asian financial crisis," adding, "Although the business environment is uncertain, we should grow through continued changes."
"The secrets to the trees which lasted for a few hundred years are closely identifying environment change and change themselves in advance," he said, adding, "As for business, only continued change can secure unlimited existence and growth."
Park also said, "As next year marks 70 years of anniversary, LG Chem should change itself to adapt to the changed environment."
