{"slug":"lg-chem","name":"LG화학","name_en":"LG Chem","ticker":"051910.KS","updated_at":"2026-07-12T04:41:41.557669+00:00","canonical":"https://valuechain.wiki/lg-chem","citable":"밸류체인 그래프 기준 LG화학의 직접 연결 기업은 5곳(관계 기준 공급 1·매출 3·투자 1)이고, 사슬을 2차까지 넓히면 23곳에 닿는다. 링크의 근거 출처는 8건이며 그중 1차공시가 4건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, LG Chem is directly linked to 5 companies (1 supply, 3 revenue, 1 investment relationships) and reaches 23 companies within two hops; the links are backed by 8 dated sources, 4 of them primary filings (as of 2026-07-12).","kicker":"코스피 · 종합화학 · 배터리(LG엔솔)·양극재","kicker_en":"KOSPI · Diversified chemicals · Battery (LGES) & cathode","lead":"국내 최대 종합화학 기업. 2025년 연결 매출 약 45조9,322억원 가운데 자회사 LG에너지솔루션 51.5%, 석유화학 38.2%, 첨단소재(양극재) 5.7%, 생명과학 2.9%를 차지한다. 전기차용 양극재를 제너럴모터스·토요타·파나소닉 등에 중장기 공급하며, 석유화학은 나프타 기반 범용 시황 부진 속에 고부가 제품으로 수익성을 방어한다.","lead_en":"Korea's largest diversified chemical maker. Of about ₩45.9 trillion in 2025 consolidated revenue, battery subsidiary LG Energy Solution accounts for 51.5%, petrochemicals 38.2%, advanced materials (cathodes) 5.7%, and life sciences 2.9%. It supplies EV cathodes to General Motors, Toyota, and Panasonic under long-term contracts, while its naphtha-based petrochemicals lean on high-value products to defend margins amid a weak commodity cycle.","segments":{"parts":[{"desc":"연결 매출의 51.5%(약 23.7조). LG화학 밸류의 사실상 최대 축이자 EV 사이클 노출.","name":"LG에너지솔루션(배터리 자회사)","share":"51.5%"},{"desc":"연결의 38%. 나프타 기반 범용 시황 부진, 고부가 제품으로 수익성 방어.","name":"석유화학","share":"38.2%"},{"desc":"양극재를 GM·토요타·파나소닉에 장기 공급하는 성장 축.","name":"첨단소재(양극재·전자소재)","share":"5.7%"},{"desc":"제약·백신 등 소규모 다각화.","name":"생명과학","share":"2.9%"},{"desc":"농화학 등 그룹 기타 사업.","name":"공통·기타(팜한농 등)","share":"1.6%"}],"total":"약 45조9,322억원 (FY2025 연결)"},"segments_en":{"parts":[{"name":"LG Energy Solution (battery subsidiary)","share":"51.5%"},{"name":"Petrochemicals","share":"38.2%"},{"name":"Advanced materials (cathodes, e-materials)","share":"5.7%"},{"name":"Life sciences","share":"2.9%"},{"name":"Common/other (Farm Hannong etc.)","share":"1.6%"}],"total":"~₩45.9T (FY2025 consolidated)"},"returns_yearly":{"2021":-29,"2022":9.7,"2023":-36.6,"2024":-45.3,"2025":31.2,"2026":-14.4},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"mazda-motor","name":"마쓰다","name_en":"Mazda Motor","tier":2,"returns_yearly":{"2021":18.8,"2022":22.8,"2023":81.1,"2024":-39,"2025":17.3,"2026":-3.2}},{"slug":"general-motors","name":"제너럴 모터스","name_en":"General Motors","tier":2,"returns_yearly":{"2021":40.8,"2022":-42.4,"2023":7.9,"2024":49.8,"2025":54.2,"2026":-3.8}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":2,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-9.3}},{"slug":"panasonic-energy","name":"파나소닉 에너지","name_en":"Panasonic Energy","tier":1,"returns_yearly":{"2021":-5.7,"2022":-1.6,"2023":20.1,"2024":16.6,"2025":36.2,"2026":113.2}},{"slug":"lg-electronics","name":"LG전자","name_en":"LG Electronics","tier":1,"returns_yearly":{"2021":-16.2,"2022":-20.9,"2023":-5.8,"2024":-9.5,"2025":19.2,"2026":85.5}}],"benefiting":[{"slug":"lg-energy-solution","name":"LG에너지솔루션","name_en":"LG Energy Solution","tier":1,"returns_yearly":{"2023":-26.9,"2024":-7.6,"2025":13.1,"2026":-18.1}},{"slug":"cosmo-advanced-materials-technology","name":"코스모신소재","name_en":"Cosmo Advanced Materials & Technology","tier":1,"returns_yearly":{"2021":121.4,"2022":48.7,"2023":128.9,"2024":-60.4,"2025":-3.4,"2026":-22.5}},{"slug":"ls-electric","name":"LS일렉트릭","name_en":"LS ELECTRIC","tier":2,"returns_yearly":{"2021":-19.2,"2022":11.4,"2023":37.4,"2024":234.2,"2025":145,"2026":79.6}},{"slug":"dai-nippon-printing","name":"다이닛폰인쇄","name_en":"Dai Nippon Printing","tier":2,"returns_yearly":{"2021":56.5,"2022":13.9,"2023":42.6,"2024":8.5,"2025":22.5,"2026":15.3}},{"slug":"daejoo-electronic","name":"대주전자재료","name_en":"Daejoo Electronic Materials","tier":2,"returns_yearly":{"2021":98.4,"2022":-2.3,"2023":-19.4,"2024":48.5,"2025":-25.9,"2026":7.7}},{"slug":"sqm","name":"SQM","name_en":"Sociedad Química y Minera de Chile S.A.","tier":2,"returns_yearly":{"2021":6.8,"2022":71.8,"2023":-18.3,"2024":-39.4,"2025":89.2,"2026":7.6}},{"slug":"yunnan-energy","name":"Yunnan Energy (Enjie)","name_en":"Yunnan Energy New Material (SEMCORP)","tier":2,"returns_yearly":{"2021":92.8,"2022":-38.6,"2023":-72.6,"2024":-29.2,"2025":76.4,"2026":7.5}},{"slug":"umicore","name":"유미코아","name_en":"Umicore","tier":2,"returns_yearly":{"2021":-27.5,"2022":5.9,"2023":-37.1,"2024":-51.4,"2025":111.6,"2026":2.4}},{"slug":"lotte-energy-materials","name":"롯데에너지머티리얼즈","name_en":"Lotte Energy Materials","tier":2,"returns_yearly":{"2021":31.5,"2022":-32.9,"2023":-49.3,"2024":-30,"2025":75.8,"2026":-8.4}},{"slug":"albemarle","name":"Albemarle","name_en":"Albemarle","tier":2,"returns_yearly":{"2021":59.8,"2022":-6.6,"2023":-32.8,"2024":-39.5,"2025":67.7,"2026":-10.4}},{"slug":"skc","name":"SKC","name_en":"SKC","tier":2,"returns_yearly":{"2021":18.1,"2022":-31.9,"2023":-19.7,"2024":104.3,"2025":-25.4,"2026":-19.2}},{"slug":"landf","name":"엘앤에프","name_en":"L&F","tier":2,"returns_yearly":{"2021":139.2,"2022":22.4,"2023":-30.3,"2024":-38.6,"2025":43.4,"2026":-20.4}},{"slug":"ganfeng","name":"Ganfeng Lithium","name_en":"Ganfeng Lithium","tier":2,"returns_yearly":{"2021":12,"2022":-17.4,"2023":-56.1,"2024":0.1,"2025":108.3,"2026":-21.8}},{"slug":"posco-future-m","name":"포스코퓨처엠","name_en":"POSCO Future M","tier":2,"returns_yearly":{"2021":-17.7,"2022":97.6,"2023":16.3,"2024":-43.6,"2025":56.5,"2026":-32}},{"slug":"advanced-nano-products","name":"나노신소재","name_en":"Advanced Nano Products","tier":2,"returns_yearly":{"2021":56.8,"2022":66.4,"2023":13.9,"2024":-30.9,"2025":5.5,"2026":-32.8}},{"slug":"chunbo","name":"천보","name_en":"Chunbo","tier":2,"returns_yearly":{"2021":40.4,"2022":-7.3,"2023":-65,"2024":-55.6,"2025":59.1,"2026":-37.6}},{"slug":"pnt","name":"피엔티","name_en":"PNT (People & Technology)","tier":2,"returns_yearly":{"2021":62.2,"2022":11.6,"2023":-17.8,"2024":12.2,"2025":31.1,"2026":-39.8}},{"slug":"enchem","name":"엔켐","name_en":"Enchem","tier":2,"returns_yearly":{"2022":-37.4,"2023":173.9,"2024":-20.5,"2025":-26.1,"2026":-76.7}},{"slug":"hoya","name":"호야","name_en":"Hoya Corporation","tier":3,"returns_yearly":{"2021":10.8,"2022":-3,"2023":34.4,"2024":11.3,"2025":24.9,"2026":-2.9}},{"slug":"posco-holdings","name":"POSCO홀딩스","name_en":"POSCO Holdings","tier":3,"returns_yearly":{"2021":13.9,"2022":19.9,"2023":43,"2024":-37.3,"2025":38.3,"2026":-8.8}},{"slug":"lotte-chemical","name":"롯데케미칼","name_en":"Lotte Chemical","tier":3,"returns_yearly":{"2021":-22.5,"2022":-3.6,"2023":-24.4,"2024":-56.1,"2025":50.1,"2026":-25.4}}],"analysis":"LG화학의 논점은 '한 회사 안에 서로 다른 세 개의 사이클이 겹쳐 있다'는 데 있다. 연결 매출의 51.5%는 상장 자회사 LG에너지솔루션(배터리)이라, LG화학 주가는 사실상 배터리 지분가치에 크게 연동된다 — EV 수요·엔솔 주가가 최대 변수. 나머지에서 석유화학(38%)은 나프타 기반 범용 시황 부진으로 눌리고, 첨단소재의 양극재가 GM(24.75조)·토요타·파나소닉과 맺은 장기계약으로 성장 축을 만든다. 관전점은 배터리 캐즘 회복과 양극재 가동률, 석유화학 구조조정이다. 그래프 파급: GM·토요타·파나소닉 셀 수요가 양극재를 끌고, 상류에선 화유코발트·코스모신소재(전구체·양극재)와 GS칼텍스(납사)가 원가를 좌우한다.","analysis_en":"LG Chem's thesis is three different cycles overlapping inside one company. 51.5% of consolidated revenue is listed subsidiary LG Energy Solution (batteries), so LG Chem's stock effectively tracks its battery stake value — EV demand and LGES's share price are the biggest variables. Elsewhere, petrochemicals (38%) are pressured by weak naphtha-based commodity conditions, while Advanced Materials' cathodes build a growth axis via long-term contracts with GM (KRW 24.75tn), Toyota and Panasonic. Watch the battery air-pocket recovery, cathode utilization and petrochemical restructuring. Graph propagation: GM/Toyota/Panasonic cell demand pulls cathodes, while upstream Huayou Cobalt and Cosmo AM&T (precursor/cathode) and GS Caltex (naphtha) set cost.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"General Motors (양극재)","counterparty_slug":"general-motors","confidence":"high","metric":{"type":"contract","unit":"KRW","as_of":"2024-02","value":24749237818187,"period":"2024.02.07~2035.12.31 양극재"},"note":"EV용 양극재 중장기 공급계약 24.75조원(2024.02~2035.12). GM/Ultium 향.","note_en":"Long-term EV cathode supply contract of ₩24.75T (Feb 2024–Dec 2035) to GM/Ultium.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313001195","title":"LG화학 사업보고서 (2025.12)","title_en":"LG Chem Annual Business Report (FY2025)","excerpt":"상대방 : General Motors / 계약내용 : EV용 양극재 중장기 공급계약 체결 / 계약기간 : 2024.02.07~2035.12.31 / 계약금액총액 24,749,237,818,187원. 미수령 사유: 계약 조건에 따라 2026년 이후 공급 및 대금 수령 예정.","excerpt_en":"Counterparty: General Motors; long-term EV cathode supply contract, 2024.02.07–2035.12.31; total ₩24,749,237,818,187; deliveries and payment scheduled from 2026 onward."},{"stance":"mentions","publisher":"NH투자증권 (알파비즈 인용)","publisher_en":"NH Investment & Securities (via AlphaBiz)","kind":"research","lang":"ko","published_at":"2026-02-05","url":"https://m.alphabiz.co.kr/news/amp.html?ncode=1065570157717453","title":"NH투자증권, LG화학 목표주가 42만원으로 하향… '매수' 유지","title_en":"NH Investment cuts LG Chem target to KRW 420,000, keeps Buy on cathode turnaround","excerpt":"NH투자증권은 석유화학 부진에도 양극재 사업 턴어라운드 기대를 이유로 '매수'를 유지하며 목표주가를 42만원으로 제시.","excerpt_en":"NH Investment keeps a Buy rating citing a cathode-materials turnaround despite petrochemical weakness, with a KRW 420,000 target."},{"stance":"confirms","publisher":"LG","publisher_en":"LG","kind":"ir","lang":"ko","published_at":"2022-07-26","url":"https://www.lg.co.kr/media/release/27323","title":"LG화학, GM과 25조원 양극재 공급계약","title_en":"LG Chem signs KRW 25tn cathode deal with GM","excerpt":"LG화학은 2035년까지 최소 24조7500억원 규모의 양극재를 GM에 공급.","excerpt_en":"LG Chem to supply GM with at least KRW 24.75tn of cathodes through 2035."}]},{"direction":"cost","counterparty":"GS칼텍스 (납사)","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"KRW","as_of":"2025-12","value":11086803000000,"period":"석유화학 원재료 매입(연결)"},"note":"석유화학 주원료 납사·EDC 매입(제25기 11.09조원, 매입 47.6%)의 국내 주요 매입처.","note_en":"Key domestic supplier of naphtha/EDC, the main petrochemical feedstock (₩11.09T purchases, 47.6% of materials in FY2025).","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313001195","title":"LG화학 사업보고서 (2025.12)","title_en":"LG Chem Annual Business Report (FY2025)","excerpt":"석유화학사업부문 원재료 납사,EDC 등 (PE/PVC원료) 매입액 11,086,803백만원, 비율 47.6%, 구매처 GS Caltex, Mitsui 등. 국내 Naphtha 848,660원/톤 주요매입처 GS Caltex.","excerpt_en":"Petrochemical feedstock naphtha/EDC purchases of ₩11,086,803 million (47.6% of materials); suppliers GS Caltex, Mitsui, etc.; domestic naphtha at ₩848,660/ton sourced mainly from GS Caltex."}]},{"direction":"revenue","counterparty":"Toyota (양극재)","counterparty_slug":null,"confidence":"high","metric":{"type":"contract","unit":"KRW","as_of":"2023-10","value":2861610943827,"period":"2023.10.06~2030.12.31 양극재"},"note":"EV용 양극재 중장기 공급계약 2.86조원(2023.10~2030.12). 북미 Toyota 향.","note_en":"Long-term EV cathode supply contract of ₩2.86T (Oct 2023–Dec 2030) to Toyota North America.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313001195","title":"LG화학 사업보고서 (2025.12)","title_en":"LG Chem Annual Business Report (FY2025)","excerpt":"상대방 : Toyota Motor Engineering & Manufacturing North America, Inc. / EV용 양극재 중장기 공급계약 / 계약기간 2023.10.06~2030.12.31 / 계약금액총액 2,861,610,943,827원, 누적 판매·공급 41,317,809,000원.","excerpt_en":"Counterparty: Toyota Motor Engineering & Manufacturing North America; long-term EV cathode supply contract, 2023.10.06–2030.12.31; total ₩2,861,610,943,827."}]},{"direction":"cost","counterparty":"화유코발트 Huayou (전구체·리튬)","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"KRW","as_of":"2025-12","value":1466703000000,"period":"첨단소재 원재료 매입(연결)"},"note":"첨단소재 양극재용 전구체·리튬 매입(제25기 1.47조원, 6.3%)의 주요 매입처.","note_en":"Key supplier of precursor and lithium for advanced-materials cathodes (₩1.47T purchases, 6.3% of materials in FY2025).","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313001195","title":"LG화학 사업보고서 (2025.12)","title_en":"LG Chem Annual Business Report (FY2025)","excerpt":"첨단소재사업부문 원재료 전구체, 리튬 등 (양극재 및 전자소재원재료 등) 매입액 1,466,703백만원, 비율 6.3%, 구매처 Huayou 등.","excerpt_en":"Advanced-materials feedstock precursor/lithium for cathodes: purchases of ₩1,466,703 million (6.3%); supplier Huayou, etc."}]},{"direction":"revenue","counterparty":"LG전자 (수지 공급)","counterparty_slug":"lg-electronics","confidence":"high","metric":{"type":"amount","unit":"KRW","value":951200000000,"period":"FY2025 LG전자향 Resin"},"note":"LG전자 가전 사출물용 수지(Resin)를 공급 — FY2025 약 9,512억원 규모의 계열 소재 매출.","note_en":"Supplies resins for LG Electronics' appliance moldings — ~KRW 951.2bn of affiliated materials revenue in FY2025.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313000662","title":"LG전자 사업보고서 (제24기, FY2025)","title_en":"LG Electronics business report (24th term, FY2025)","excerpt":"LG전자 HS+ES Resin 매입처 ㈜LG화학","excerpt_en":"LG Chem is LG Electronics' HS+ES resin supplier"}]},{"direction":"cost","counterparty":"코스모신소재","counterparty_slug":"cosmo-advanced-materials-technology","confidence":"high","metric":{"type":"contract_value","unit":"KRW billion","as_of":"2025-04-30","basis":"양극활물질 매입계약","value":250.4,"basis_en":"cathode purchase contract"},"note":"코스모신소재로부터 하이니켈 NCM 양극활물질을 공급받는다. 2025년 단일공급계약 250,416백만원.","note_en":"Buys high-nickel NCM cathode active material from Cosmo AM&T. 2025 single-supply contract worth 250.4 billion won.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"FSS DART","kind":"filing","lang":"ko","published_at":"2026-06-02","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260602000342","title":"코스모신소재 사업보고서 (2025.12)","title_en":"Cosmo AM&T Annual Business Report (FY2025)","excerpt":"양극활물질 주요 매출처에 엘지화학 포함(양극활물질 매출 327,634백만원).","excerpt_en":"LG Chem is among Cosmo AM&T's main cathode customers (cathode revenue 327.6 billion won)."}]},{"direction":"investment","counterparty":"LG에너지솔루션 (배터리 자회사 지분)","counterparty_slug":"lg-energy-solution","confidence":"high","metric":{"type":"share","unit":"%","as_of":"2025-12","value":51.5,"period":"LGES가 LG화학 연결매출에서 차지하는 비중"},"note":"2020.12.1 전지사업부문 물적분할로 설립한 상장 자회사. 2025년 연결 매출 약 23.7조원으로 LG화학 연결의 51.5%.","note_en":"Listed subsidiary spun off from the battery division on Dec 1, 2020; ~₩23.7T revenue in 2025, 51.5% of LG Chem's consolidated top line.","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313001195","title":"LG화학 사업보고서 (2025.12)","title_en":"LG Chem Annual Business Report (FY2025)","excerpt":"당사는 2020년 12월 1일자로 전지사업부문을 단순·물적분할하여 종속기업 (주)LG에너지솔루션을 설립. LG에너지솔루션은 2025년 4분기 누계 약 23조6,718억원의 연결 매출 기록.","excerpt_en":"The battery division was spun off on Dec 1, 2020 into subsidiary LG Energy Solution, which posted about ₩23.67 trillion in 2025 consolidated revenue."}]},{"direction":"cost","counterparty":"NICHIA (전지 원재료)","counterparty_slug":null,"confidence":"mid","metric":{"type":"amount","unit":"KRW","as_of":"2025-12","value":9814535000000,"period":"LGES 전지 원재료 매입(연결)"},"note":"자회사 LG에너지솔루션의 양극재·음극재·분리막 등 전지 원재료 매입(제25기 9.81조원, 42.1%)의 주요 매입처.","note_en":"Key supplier of battery materials (cathode/anode/separator) for subsidiary LG Energy Solution (₩9.81T purchases, 42.1% in FY2025).","sources":[{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260313001195","title":"LG화학 사업보고서 (2025.12)","title_en":"LG Chem Annual Business Report (FY2025)","excerpt":"LG에너지솔루션 원재료 양극재, 음극재, 분리막 등 (전지 원재료) 매입액 9,814,535백만원, 비율 42.1%, 구매처 NICHIA 등.","excerpt_en":"LG Energy Solution battery feedstock (cathode/anode/separator): purchases of ₩9,814,535 million (42.1%); supplier NICHIA, etc."}]},{"direction":"revenue","counterparty":"파나소닉 (양극재, 미국)","counterparty_slug":"panasonic-energy","confidence":"mid","metric":{"type":"contract","unit":"KRW","as_of":"2025-11","value":3761948654400,"period":"2025.11.15~2029.07.31 양극재"},"note":"미국향 EV 양극재 중장기 공급계약 3.76조원(2025.11~2029.07). 공시상 상대방 비밀유보, 매체는 파나소닉(테슬라향 물량)으로 지목.","note_en":"US-bound long-term EV cathode supply contract of ₩3.76T (Nov 2025–Jul 2029). Counterparty withheld in the filing; media identify it as Panasonic (cathode ultimately for Tesla).","sources":[{"stance":"confirms","publisher":"The Korea Economic Daily (KED Global)","publisher_en":"The Korea Economic Daily (KED Global)","kind":"news","lang":"en","published_at":"2025-11-14","url":"https://www.kedglobal.com/batteries/newsView/ked202511140002","title":"LG Chem wins $2.6 billion cathode deal with US client","title_en":"LG Chem wins $2.6 billion cathode deal with US client","excerpt":"LG화학이 미국 고객사와 3.76조원(약 26억달러) 규모 EV 배터리 양극재 공급계약을 체결. 소식통은 상대방을 일본 파나소닉으로 지목했으며, 해당 양극재는 테슬라용 배터리에 쓰일 가능성이 큼.","excerpt_en":"LG Chem signed a ₩3.76 trillion (about $2.6 billion) EV cathode supply deal with a US client; sources said the buyer is Japan's Panasonic, with the cathode likely destined for Tesla batteries."},{"stance":"mentions","publisher":"The Korea Herald","publisher_en":"The Korea Herald","kind":"news","lang":"en","published_at":"2025-11-14","url":"https://www.koreaherald.com/article/10615772","title":"LG Chem wins 3.76 tln-won EV cathode material supply deal from US","title_en":"LG Chem wins 3.76 tln-won EV cathode material supply deal from US","excerpt":"LG화학은 2025.11.15~2029.07.31 기간 국내 생산 양극재 약 10만톤(전기차 약 76만대분)을 미국에 공급. 상대방은 공개하지 않음.","excerpt_en":"LG Chem will ship about 100,000 tons of Korea-made cathodes (enough for ~760,000 EVs) to the US from Nov 15, 2025 to Jul 31, 2029; the customer was not named."},{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2025-11-13","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20251113800665","title":"LG화학 단일판매·공급계약 체결 (EV용 양극재 중장기 공급)","title_en":"LG Chem Single Supply Contract Disclosure (long-term EV cathode)","excerpt":"체결계약명: EV용 양극재 중장기 공급계약 체결 / 계약금액(원) 3,761,948,654,400 / 최근매출액 48,916,104,472,005 / 매출액대비 7.69% / 판매·공급지역 미국 / 계약기간 2025-11-15~2029-07-31 / 계약상대 경영상 비밀유지로 2032-07-31까지 유보. 환율 1,463.20원/USD 적용.","excerpt_en":"Contract: long-term EV cathode supply; ₩3,761,948,654,400 (7.69% of latest revenue); region United States; term 2025-11-15 to 2029-07-31; counterparty withheld until 2032-07-31 for business confidentiality."}]}]}