SEOUL, Oct. 27 (Korea Bizwire) – LG Chem announced on Thursday its intention to establish a plastic circulation system by producing eco-friendly plasticizer, a key ingredient in flooring materials, using discarded PET bottles from everyday life. A plasticizer is a vital additive that enhances the flexibility and elasticity of PVC, primarily used in the production of [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it has opened a research and development center in the United States to develop new growth engines under a partnership with a local university. LG Chem’s North America Innovation Center, located in Georgia, will focus on developing technologies involving [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday its third-quarter net profit more than doubled from a year earlier on strong demand in the United States and U.S. government’s tax credits. Net profit for the three months ended in September soared to 420.5 billion won [...]
SEJONG, Oct. 25 (Korea Bizwire) — South Korea plans to expand ties with Canada in the battery sector amid the U.S. protectionism policy that gives incentives to electric cars produced in North America, a senior trade official said Wednesday. Deputy Minister for Trade Yang Byeong-nae made the remark during his meeting in Seoul with his [...]
SEOUL, Oct. 23 (Korea Bizwire) — Samsung SDI Co., South Korea’s second-biggest car battery maker, said Monday it will supply batteries for Hyundai Motor Co.’s electric vehicles in a seven-year deal. Samsung SDI signed the deal to provide car batteries to Hyundai Motor’s vehicles to be built in Europe from 2026 through 2032, the company [...]
SEOUL, Oct. 18 (Korea Bizwire) – South Korea’s major chemical companies are collaborating with cosmetics companies to accelerate the development and supply of eco-friendly cosmetics packaging. This transition is crucial for the cosmetics industry due to its short product replacement cycle, extensive use of plastics, and considerable waste production. LG Chem announced on Tuesday that it [...]
SEOUL, Oct. 13 (Korea Bizwire) — LG Chem Ltd. and GS Caltex Corp. plan to produce a prototype of a material for biodegradable plastics next year, as they step up cooperation for the development of the eco-friendly raw material, the companies said Friday. LG Chem and GS Caltex signed an agreement in 2021 to develop [...]
SEOUL, Oct. 12 (Korea Bizwire) – South Korea’s state-run energy company said Thursday it is taking a step closer to winning a project worth around 2.5 trillion won (US$1.87 billion) to refurbish an aging nuclear reactor in Romania’s Cernavoda power plant through a consortium with Canadian and Italian firms. The Korea Hydro & Nuclear Power [...]
SEOUL, Oct. 12 (Korea Bizwire) – Recent data shows that the waste recycling performance of South Korea’s top two semiconductor companies, namely Samsung Electronics and SK Hynix, is being overestimated due to domestic regulations that diverge from international trends. Local regulations consider the production of heat energy by burning waste as recycling, but some have questioned [...]
SEOUL, Oct. 11 (Korea Bizwire) –Samsung SDI Co., South Korea’s second-biggest car battery maker, said Wednesday it will build its second U.S. battery plant in Indiana jointly with Stellantis N.V. near the first plant under construction. Samsung SDI set up a 51:49 joint company named StarPlus Energy with Stellantis in May last year to [...]