LG Chem, the chemical, battery, and electronics materials business unit of LG Group, said it would beef up its research and development capabilities for next-generation businesses throughout this year.

In line with the effort, the world’s leading chemical firm has recruited former Seoul National University professor Lee Jin-kyu, a renowned expert of inorganic nanomaterials, as the research chairman.

The new chief researcher received a doctoral degree under the guidance of Nobel Prize laureate in Chemistry Richard Schrock, and completed postdoctoral studies at Massachusetts Institute of Technology’s Interdisciplinary Research Group.

Serving as a chemistry professor for the past 16 years at SNU since 1998, he has published 106 treaties and holds 100 patents in the chemical sector.

“With his joining, I expect LG Chem to pick up pace in R&D for inorganic nanomaterials,” said Kim Min-hwan, chief human resource officer in a statement.

Renaming its core research devision under Research Park from Main R&D center to Corporate R&D, the chemical firm is also planning to pour more resources to secure core technologies in a wide range of fields including battery, display and electronic materials.

Research Park, consisting of different sub-divisions including those for basic materials and chemicals, IT and electronics materials, and energy solutions, has played an important role in enabling the LG affiliate to become the world’s leading chemical and battery maker.

The company is the largest producer of acrylonitrile butadiene styrene, or ABS, which is widely used for automotive interior parts, liquid crystal display glass substrates, core materials for LCDs, and batteries for electric vehicles.

More than 40 percent of the staff at the center will be researchers holding a doctorate by the end of this year, according to the Seoul-based battery maker.

“Amid a difficult management environment due to the fierce competition, the first thing many corporations do is to reduce R&D investments (to save costs),” said Yoo Jin-nyoung, president of Research Park, adding “LG Chem, however, will continue expanding its investment to solidify its leading position in the global materials industry.”

By Kim Young-won (wone0102@heraldcorp.com)