Established in 1964, LOTTE Fine Chemical (LFC) has been keeping pace with the development of chemical industry in Korea since its founding. The company began in the general chemicals business, the foundation of the chemical industry, and then expanded into higher added value businesses, such as fine chemicals. These include AnyCoat®, a material for pharmaceutical capsules, and MECELLOSE®, a functional additive for construction. LFC also manufactures electronic materials, including tetramethyl ammonium hydroxide (TMAC), a material for semiconductors, and color laser printer toners. As such, LFC continues to expand its business areas and technological prowess as a specialty chemical company.
Economic fluctuations in Korea and abroad, including the international financial crisis, substantial domestic household debt, and a faltering manufacturing industry, have contributed to growing uncertainties in our business environment. Notwithstanding this, however, LFC has successfully completed its business restructuring, and improved internal efficiency, turning obstacles into opportunities. Leveraging the skills and experience built up over the last 50 years, LFC is now concentrating on bolstering its global competitiveness through innovation and creativity.In the area of R&D, LFC is developing new uses for its products, and expanding research infrastructure to offer top-quality technology services to customers. We are also building world-leading production competitiveness while focusing on safety management. Our creative partnership, and the efforts of everyone at LFC to improve profitability and secure future growth drivers, are aimed at providing better products and services to all our customers.
In addition, we will continue to strengthen our cooperative relationships with customers, partners, and local communities, to fulfill our responsibilities as a company that grows in partnership with all our stakeholders.