[Concall] LG Chem "Polarizer Business Disposal Gain of 900 Billion KRW... Expected to be Reflected in 4Q"

On the 30th, LG Chem stated during its Q3 earnings conference call that "the reason why the advanced materials division's performance was somewhat better than that of cathode material competitors in the third quarter is because, although the cathode material business was central, we have a diverse and balanced portfolio." They added, "No proceeds from the sale of the polarizing film-related business within the film division have been reflected in operating profit."

LG Chem explained, "The polarizing film business is recognized as a discontinued operation and has been excluded from earnings in the third quarter of this year as well as in the past." They noted, "The sale proceeds amount to approximately KRW 1.1 trillion." Furthermore, they said, "The net assets subject to this sale are around KRW 170 billion to 180 billion, and the disposal gain is about KRW 900 billion, which is expected to be recognized in the fourth quarter or the first quarter of next year."

LG Chem also stated, "Although the sale of low-growth, low-profit businesses facing intensified competition from Chinese companies has reduced the IT materials business sales to below KRW 1 trillion, we aim to generate profitability through business operations focused on OLED materials and semiconductor materials." They added, "Whether in battery materials or not, we plan to continue operating the division with a mid- to long-term goal of 10% profitability."