Headquarters: Seoul, South Korea
Industry sector: Chemicals
LG Chem’s business is divided into three core technology areas. One focuses on basic materials and chemicals; another focuses on applications for IT and electronics devices (eg, materials used in LCD panels); while the third focuses on energy solutions, including lithium ion batteries, and accounts for the lion’s share of the company’s patent portfolio. Increasingly, however, the company is ramping up its patent holdings in areas that lie outside these three core areas, in an effort to generate what it calls “new growth engines”. In the United States specifically, the company’s store of patent assets is set to increase significantly. Its applications total more than 50% of its patents in force: according to data from MDB Capital Group, it had 2,100 US grants and 1,234 assets pending at the end of last year. It has enjoyed a compound annual growth rate over three years of 22% – good enough to make it one of the 20 fastest-growing large portfolios.