The undertaking in Ochang, South Korea includes R&D and manufacturing facilities and related infrastructure.
LG Group is a holding company operating worldwide through more than 30 companies in the fields of electronics, chemicals, and telecommunications.
Its electronics subsidiaries manufacture and sell products ranging from electronic and digital home appliances to televisions and mobile phones, from liquid crystal displays to thin-film transistors to security devices: mobile and semiconductors.
In the chemical industry, subsidiaries manufacture and sell cosmetics, industrial textiles, rechargeable batteries, inks, polycarbonate resins, medicines, and decorative surface materials.
LG also operates the Coca-Cola Korea Bottling Company and operates real estate management, management consulting, and professional sports clubs.
LG Energy Solutions plans to invest 4 trillion won in the electric vehicle battery business from this year to 2026.
The project in Ochang, South Korea will include R&D and manufacturing facilities and related infrastructure and will add 1,800 employees, the company said in a statement.
“We plan to set up a diversified product portfolio including pouch-type and cylindrical batteries to respond to customer needs promptly, and differentiate production capabilities based on a ‘smart’ factory,” an LG Energy Solution representative declared.
