LG Chem, the largest chemical company in Korea, has emerged as the first Korean enterprise to transform its legal solutions with AI by adopting Luminance Corporate.
With 50,000 patents, 20,000 employees and 58 locations worldwide, LG Chem faces the challenge of managing extensive volumes of contracts, including sales agreements and non-disclosure agreements, necessitating swift turnaround times for its 50-strong legal team.
Sue Yang, legal head at LG Chem, said: “By automating routine yet time-consuming tasks associated with contract management, our legal team can focus on high-value work, maximising revenue generation and providing business-wide value.”
LG Chem has leveraged Luminance’s chatbot, enabling instant responses to queries in any language, including Korean, and to redraft clauses or draft an executive summary of any contract.
Eleanor Lightbody, CEO of Luminance, said: “LG Chem’s adoption of Luminance marks an exciting milestone as our first Korean customer for our co-pilot product. This partnership underscores the transformative potential of Luminance’s technology to deliver value to organisations of any size, operating in any language.”
LG Chem chose Luminance over seven other legal AI vendors.
