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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] On May 15, LG Chem announced that its board of directors has approved a KRW 1.42 trillion (approximately USD 1.05 billion) debt guarantee for its U.S.-based cathode material subsidiary, LG Chem America Advanced Materials.
The guarantee amount represents approximately 2.95% of LG Chem’s total equity capital, which stands at KRW 47.99 trillion.
The U.S. subsidiary plans to use the guaranteed funds to support investment in response to growing demand for cathode materials in the North American market, as LG Chem continues to expand its battery materials business globally.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
