SEOUL, Aug. 28 (Korea Bizwire) — LG Chem Ltd. said Monday it is spending 124.6 billion won (US$94.1 million) over the next two years to expand its manufacturing facility for its key filter membrane product used in water desalination. The facility, located in the central provincial city of Cheongju, will have an annual production capacity [...]
SEOUL, July 27 (Korea Bizwire) — LG Chem Ltd. said Thursday its second-quarter profit sank 30 percent from a year earlier as global demand for petrochemicals remained sluggish. Operating income reached 615.6 billion won (US$484 million) in the April-June period, compared with 878.4 billion won the previous year, the company said in a regulatory filing. [...]
SEOUL, July 12 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has raised US$2 billion by selling exchangeable bonds (EB) that can be converted to shares of its battery-making subsidiary, LG Energy Solution Ltd. The bond sale came in two tranches worth $1 billion each, with the coupon for five-year EBs set at 1.25 [...]
SEOUL, July 7 (Korea Bizwire) — SKC Co., a chemical company under South Korea’s SK Group, said Friday it acquired a local semiconductor test equipment maker for 522.5 billion won (US$399 million) as it accelerates its push for a pivot to the manufacturing of semiconductor and battery components. SKC took over a 35.8 percent stake, [...]
SEOUL, July 6 (Korea Bizwire) — SK Chemicals Co. said Wednesday it has utilized its chemically recycled PET (CR-PET) to create new packaging for food giant Ottogi Co.’s port cutlets and steak sauces. The company emphasized that it was the first in the local food industry to develop and commercialize food containers using 100 percent [...]
SEOUL, June 12 (Korea Bizwire) — SKC Co., a South Korean manufacturer of advanced materials, signed Monday a preliminary agreement with the government of Vietnam’s Hai Phong city to explore potential investment in advanced materials for secondary batteries, semiconductors and other green sectors. Under the memorandum of understanding, SKC will consider ways to invest in [...]
SEOUL, June 12 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Sunday it has signed an agreement with cosmetics company Cosmax Co. to enhance collaboration in developing and marketing eco-friendly cosmetics containers. Cosmax is an original design manufacturer (ODM) with a customer base of some 1,000 global cosmetics companies including [...]
SEOUL, May 31 (Korea Bizwire) — LG Chem Ltd. said Wednesday it broke ground for its fourth carbon nanotube (CNT) plant in South Korea, to more than double output of the key industrial material in the next few years. The CNT 4 plant, to be located in LG Chem’s Daesan complex, in Seosan, about 83 [...]
SEOUL, May 18 (Korea Bizwire) — LG Chem Ltd. said Thursday it has won a contract to exclusively supply its key filter membrane product for a large-scale water desalination project in Israel. LG Chem will supply some 30,000 reverse osmosis (RO) membranes to a joint desalination plant led by two Israeli companies — Shapir Engineering [...]
SEOUL, May 18 (Korea Bizwire) — LG Electronics Inc. announced on Wednesday its entry into the functional material industry by launching the production of antibacterial glass powder, a move aimed at securing new avenues for growth. Leveraging its expertise in independent glass formulation and design technology, as well as its understanding of real-life usage scenarios [...]