According to news report, LG Chem Investment Ltd. is planning to acquire Woongjin Chemical Co., Ltd. (KOSE:A008000). According to investment banking sources on May 13, 2013, LG Chem has engeged Samil PwC and Lee & Ko LLC as financial and legal advisors to assist in the same. The news report stated that other possible bidders include Toray Advanced Materials Korea Inc., GS Holdings Corp.

(KOSE:A078930), Hyosung Investment & Development Corporation, Cheil Industries Inc. (KOSE:A001300), and TK Chemical Corporation (KOSE:A104480). Out of these, Toray Advanced Materials and Huvis have already made it official by selecting principal underwriters for the deal.