LG Chem said on Tuesday that it has invested 150 billion won in a fund that plans to invest in promising battery material companies.
The South Korean chemical giant has put in money in Korea Battery & ESG Fund run by local hedge fund IMM Credit Solution.
The fund will be worth over 400 billion won and look for promising local companies work in cathode, anode, battery metal recycling, plastic recycling and biodegradable plastic, among other sectors.
IMM Credit Solution is a wholly owned subsidiary of IMM PE.
The fund has experts and professionals who have experience in electric car and chemical industries.