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LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 10th largest chemical company in the world by sales in 2017. It was first established as the Lucky Chemical Industrial Corporation, which manufactured cosmetics. It is now solely a business-to-business company.In order to create a holding company, the "old" LG Chem was split off, creating the "new" LG Chem and LG Care. The "old" LG Chem changed its name to LG CI l. After its merger with LG EI in 2003, it changed its name to LG Corp.The company has eight factories in South Korea and a network of 29 business locations in 15 countries.