Industry Segment: Market Brief | Word Count: 103 Words

LG Chemical, which accounts for 16% of the global market share of lithium-ion batteries, plans to strengthen its self-procurement capabilities for anode and cathode materials. LG Chemical has imported 40% of the volume of cathode materials required for the production of lithium-ion batteries from Nichia Corporation of Japan, and most of the anode materials from Sumitomo Chemical. LG Chemical plans to invest approximately $420 million to build a cathode material plant in Gumi City, South Korea, to increase its cathode production capacity from 20% to 35%. In addition, LG Chemical is expected to increase the proportion of POSCO Chemical's anode materials.