South Korean chemical giants are betting on battery materials

In recent times, the global electric vehicle market has grown rapidly, and Korean chemical giants such as LG Chem, Pohang Chemical and Lotte Chemical are adjusting their business strategies and increasing investment in
battery materials.

LG Chem: Become a leading battery materials company

A spokesperson for LG Chem said the company's goal is to become the world's leading battery materials company
.

LG Chem's battery materials business includes anode materials, separation membranes, cathode adhesives, radiation adhesives, and carbon nanotubes
.

LG Chem said it hopes to cooperate with companies with mining, smelting and refining technologies in various forms to improve the competitiveness
of its own metal resources.

POSCO Chemical: Achieve self-sufficiency of battery materials

In May this year, Pohang Chemical introduced a plan
to achieve self-sufficiency in the company's battery materials.

Pohang Chemical is committed to ensuring the competitiveness
of enterprises through investment in battery raw materials.

In addition, according to the finalized cooperation plan, the high-nickel cathode material produced by POSCO Chemical will be supplied to the Ultium Cells plant in the
United States.

In the field of anode materials, Pohang Chemical plans to enter the silica gel business and achieve an annual output of 260,000 tons by 2030
.

Rakuten Chemical: Focus on the four main components of the battery

In line with the company's "2030 Growth Strategy", Rakuten Chemical has announced plans to develop its battery materials business into a core business connecting the supply chain of electric vehicles, batteries and materials to meet the needs of eco-friendly vehicles and the expansion of
new and renewable energy.

Rakuten Chemical said that the company will focus on four main components in the battery materials business area: cathode materials, anode materials, separation membranes and electrolytes
.

In February this year, Lotte Chemical announced plans to build a new battery electrolyte organic solvent plant and carbon dioxide collection and liquefaction facility in Daesan, South Korea, and expand the ethylene oxide addition and high-purity ethylene oxide plants
.

In response to the U.