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Batteries add spark to LG Chem's 3-pronged pivot from petrochemicals

CEO also leads charge into sustainable materials and new drugs with investment, M&A

LG Chem CEO Shin Hak-cheol is working to build new growth drivers after the spin-off of the battery business. (Photo courtesy of LG Chem)

SEOUL -- In a recent speech to LG Chem employees, CEO Shin Hak-cheol invoked a Chinese proverb that summed up the South Korean company's strategy while also referencing the Year of the Rabbit.

"Last year was a year in which we laid the foundation for our global expansion," he said on Jan. 2. "We'll work hard to prepare for the future with the attitude that 'a crafty rabbit has three burrows.'"

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