By Kwanwoo Jun
South Korea's LG Chem Ltd. said Wednesday that it signed a tentative $1.1 billion deal to sell parts of its liquid-crystal-display business to a Chinese company.
Under the deal, China-based Ningbo Shanshan Co. plans to buy LG Chem's LCD polarizer business, excluding some production lines for vehicles, the Korean chemical company said.
LG Chem said the deal still needs board approval, with terms potentially subject to change.
LG Chem said the planned sale conforms with its shift in business focus to organic light-emitting diode products.
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