LG Chem, a major battery maker in South Korea, said Monday it plans to become one of the top five chemical companies in the world by 2025, by bolstering its key businesses this year.

The chemical arm of LG Group, the nation’s fourth-largest conglomerate, has been gearing efforts to upgrade its business portfolio to strengthen its competitiveness in the global market.

One of the company’s key strategies is to enter the world’s evolving bio industry and take a lead in markets for metabolic diseases, bio medicines and vaccines. To achieve the goal, LG Chem merged with LG Life Sciences last year.

The company also plans to secure state-of-the-art technology and lucrative product lines for a chemical material business segment. As part of its efforts, the company plans to become the world’s top 3 producer of elastomer, also known as thermoplastic rubbers by boosting the production level from 90,000 tons a year to 290,000 tons in 2018. The company also plans to expand sales in batteries for electric vehicles by securing mega projects aimed at developing next-generation EVs that have more than 500 kilometers driving range per charge.

In the market of IT devices, LG Chem wants to retain its No.1 position in the production of polarizing plate, the core material for liquid crystal diodes. The company has been expanding the production capacity by building plants in China. It has also been seeking to enter new markets, including water filtering business, by clinching a massive supply deal with Oman last year.