LG Chem Vice Chairman Shin Hak-cheol, Sohn Ji-ung, head of LG Chem’s Life Science Business, and President Daniel Passeri of Cue Biopharma participate in a ceremony to open the Global Innovation Center in Boston on June 4. (Photos: LG Chem)

LG Chem has opened an R&D center in the United States, the world’s largest medicine market, as part of efforts to develop a suite of globally recognized new drugs. LG Chem announced the opening of the Global Innovation Center in Boston on June 4. Among some 40 people present at an opening ceremony were LG Chem Vice Chairman Shin Hak-cheol, Sohn Ji-ung, head of LG Chem’s Life Science Business, and President Daniel Passeri of Cue Biopharma, a business partner of LG Chem.

The global innovation center is headed concurrently by Hong Sung-won, head of LG Chem’s New Drug Research Center. LG Chem plans to make the center a foothold for the development of global new drugs by hiring 15 experts specializing in clinical development and transitional research fields.

LG Chem established Lucky Biotech in San Francisco in 1984 and LG BMI, a corporate research operation in San Diego in 1997. The research operation, which had been operated for several years, served as a window to acquire advanced technologies and hire local gifted manpower. LG Chem chose Boston as a 3rd bio hub of the company since the American city has one of the United States’ biggest bio clusters.

About 2,000 pharmaceutical and bio companies have headquarters and offices situated there. Boston is evaluated to be an optimal place for open innovation since universities, research institutes and large-sized general hospitals are clustered together. Employees with the bio sector number roughly 90,000 people.

LG Chem plans to devote itself to its own development using the Boston area’s excellent bio infrastructure and accelerate the global commercialization of new drugs via outside introduction.

The company plans to raise the number of new drug candidates on clinical stages from current four to more than 15 by 2025.

LG Chem Vice Chairman Shin Hak-cheol talks with those who attend LG Chem’s session to hire global gifted manpower at a hotel in Frankfurt, Germany.

LG Hosts Session on Hiring Global Manpower in Germany

LG Chem Vice Chairman Shin Hak-cheol presided over a session to hire global gifted manpower at a hotel in Frankfurt, Germany, recently. It was the first time that Vice Chairman Shin participated in such a session since he took office as last November. Senior Executive Vice President Noh In-ho, LG Chem CHO, was also present.

About 30 doctorate, master’s degree holders and students at some 10 universities and research institutes such as University of Oxford, UK, ETH Zurich and Max-Planck-Institute were invited to the session.

Europe is traditionally a region of states with strengths in the chemical and material segments. The session was designed to secure gifted manpower in Europe to ramp up its competitiveness in the EV battery and advanced material segments which emerge as LG Chem’s future growth engines.

Most of the participants were majors in battery, material and bio sectors such as battery science, chemical engineering, new material engineering, and life science engineering.