LG Chem to Sell Water Treatment Business for 14 Trillion Won

According to Yonhap News Agency, South Korean chemical giant LG Chem announced on June 13 that it has decided to sell its water treatment business to private equity firm Glenwood for 1.4 trillion won (approximately 7.35 billion RMB).

Since acquiring U.S.-based NanoH2O in 2014 and officially entering the water treatment sector, LG Chem has experienced steady growth and currently ranks second globally in market share for seawater desalination reverse osmosis membranes (RO membranes), trailing only Japan's Toray.

Amid an ongoing downturn in the petrochemical industry, LG Chem is taking steps to restructure its finances. The company stated that this move is part of its strategy to focus investments on three new growth drivers: battery materials, eco-friendly materials, and new pharmaceuticals.

In 2024, LG Chem's water treatment business recorded sales of 222 billion won, with total assets involved in the transfer amounting to 377 billion won.