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South Korea’s LG Chem becomes world’s third most valued chemical brand

South Korea’s LG Chem becomes world’s third most valued chemical brand
  • LG Chem is estimated to be around USD 4.3 billion and trails BASF SE and SABIC.
  • The petrochemical giant has showcased a growth of over 19% since last year.

According to the latest data findings by Brand Finance, LG Chem Ltd. has managed to become the world’s third-largest chemical brand in terms of value. The South Korean petrochemical mogul’s brand value, which is estimated to be around USD 4.3 billion, now trails BASF SE and SABIC.

LG Chem has showcased a remarkable growth of over 19% since last year. Nearly all the world’s most valuable chemical brands have maintained a notch above pre-pandemic valuations despite the widespread uncertainty and economic slowdown across the globe.

The top 10 chemical brands have witnessed a double-digit increase in valuation this year as compared to 2021, except Asahi Kasei which exhibited a 9% growth, sources claimed.

Notably, this is the highest peak that LG Chem has conquered narrowly surpassing the valuation of U.S.-based chemical company Dow Inc., which showed a 15% hike over the previous year.

In addition, LG Chem is one of the five companies to achieve the rating of a ‘AAA’ band strength alongside BASF SE, DuPont de Nemours Inc., Dow Inc., and SABIC. Additionally, the South Korean giant has remained at the no. 4 spot through the 2021 estimate.

Brand Finance is known to choose 25 of the world’s largest chemical brands annually. It is also worth mentioning that LG Chem Ltd is the only South Korean company to have clinched a spot on the list for 2022.

LG Chem Ltd is the largest South Korean chemical company that is directing its efforts toward fostering innovations in biotechnology, advanced materials, and petrochemicals along with being engaged in the production of lithium-ion batteries for electric vehicles.

Source Credits –

http://www.koreaherald.com/view.php?ud=20220608000585&np=1&mp=1

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Rashi Thakkar

Rashi Thakkar

Rashi started her journey in content when she was completing her MBA. Since then, she has helped well-known startups and businesses boost their online presence. Currently Rashi pens downs insightful articles for AlpenHornNews and various other websites, covering an array of sectors from finance and business to technology and healthcare.