LG Chem sells IT/automotive polarizing plate business to Chinese company = South Korea

LG Chem, a major chemical company, announced on the 27th that it has decided to sell the polarizing plate and polarizing plate materials business of its IT materials division's film business. The polarizing plate business is based in Shanjin, China.
Optoelectronics, and the polarizing plate materials business will be transferred to China's Hefei Xinmei Materials.
The transfer price is 200 million dollars (USD, approximately 29,853.4 million yen) for the polarizing plate business and 4.5 billion former (approximately 9.9 billion yen) for the polarizing plate material business.
1,888,650,000 yen). In 2020, the company sold its liquid crystal display (LCD) polarizer business to a Chinese company. Following this, we sold our IT/automotive polarizing plate business to China.
That will happen. Regarding the business transfer, LG Chem said, ``We are adjusting our business portfolio in order to concentrate our development capabilities and support on the three major businesses that we are intensively cultivating.''