South Korea's LG Chem to invest $134m in new tech, ESG fund

South Korea's LG Chem to invest $134m in new tech, ESG fund

Yongsan-gu, South Korea. Photo: Janis Rozenfields/Unsplash

LG Chem, a chemicals and battery unit of South Korean conglomerate LG Corp, is investing 150 billion won ($134 million) in a new fund that will invest in companies focused on battery technologies and eco-friendly materials.

In a statement, LG Chem said it will be an anchor investor in Korea Battery & ESG Fund, which plans to raise a total of 400 billion won ($355 million). The fund is managed by IMM Credit Solution, a wholly-owned subsidiary of domestic private equity firm IMM PE.

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