LG Chemical Producing Lithium Ion Batteries

LG Chemical Co. announced on March 25 that it developed a Lithium Ion Battery (LIB) through its own patented technology for the first time in Korea.
Most Korean companies import LIBs from Japan.
LIBs are used in mobile phones, notebook computers, and other portable electronic goods including camcorders. Japan's Sony, Sanyo and Toshiba currently have a strong hold on the world market.
LG Chemical Co. set up a production line with a capacity of producing 1 million cells per month for the Lithium Ion Battery and has already exported 100,000 LIB cells to Hong Kong and Taiwan.
The company plans to increase its production capacity to 2 million cells per month within the second half of this year and expects 100 billion won of revenues per year beginning next year.
Hyeong Ki Kim : myriad@joongang.co.kr