SEOUL, March 24 (Korea Bizwire) — South Korean chemical firm SK Geocentric Co. said Friday it is spending an additional 400 billion won (US$310 million) to build a second factory for advanced packaging materials in China. SK Geocentric signed the initial agreement earlier this week with Weixing Chemical on expanding the ethylene acrylic acid (EAA) [...]
SEOUL, Feb. 28 (Korea Bizwire) — Lotte Chemical Corp., a South Korean chemical company, said Tuesday it has signed a preliminary deal with a U.S. ammonia producer to explore opportunities for clean ammonia production and its offtake into Korea. The memorandum of understanding with CF Industries Holdings Inc. calls for the two to assess the [...]
SEOUL, Feb. 20 (Korea Bizwire) — SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, has announced plans to set up a plastic recycling plant in the Saint-Avold region in northeastern France. The company completed the selection of a site in collaboration with French water management company Suez S.A. and Quebec-based [...]
SEOUL, Feb. 1 (Korea Bizwire) — POSCO Chemical Co., a South Korean manufacturer of industrial materials, said Wednesday it has begun construction of its second factory for synthetic graphite anode materials in the country’s southeast. POSCO Chemical broke ground on the plant at its key manufacturing complex in Pohang, 272 kilometers southeast of Seoul, on [...]
SEOUL, Jan. 31 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals producer, saw its profit shrink 40.4 percent in 2022 from a year earlier due mainly to sluggish petrochemical demand. Operating income reached 2.99 trillion won (US$2.43 billion) in the January-December period, compared with 5.02 trillion won logged the previous year, the company [...]
SEOUL, Jan. 26 (Korea Bizwire) — POSCO Chemical Co., a major South Korean producer of secondary battery materials, said Thursday it has obtained government approval for the export of its technologies related to producing cathodes, a key component used in electric vehicle (EV) cells. The decision was made earlier this month by the private-public committee [...]
SEOUL, Jan. 19 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Thursday it will complete the acquisition of AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, later this week. It has invested US$571 million in its U.S. affiliate, LG Chem Life Science Innovation Center, to take [...]
COVINGTON, Jan. 16 (Korea Bizwire) – The SKC campus, located about 56 kilometers east of Atlanta, is where the chemical materials unit of SK, South Korea’s energy-to-telecom conglomerate, built its first U.S. production facility in 1999 as a PET film developer. More than two decades thereafter, SKC is building a new facility on the same [...]
SEOUL, Jan. 16 (Korea Bizwire) — Lotte Chemical Corp. said Monday it is selling its subsidiary in Pakistan to a local chemical company for 192.4 billion won (US$156 million) as part of efforts to streamline its business with a focus on advanced materials and eco-friendly products. Lucky Core Industries, a Pakistani chemical company, will take [...]
SEOUL, Jan. 16 (Korea Bizwire) — With the recovery of demand remaining sluggish due to the current economic slump, South Korean petrochemical companies are moving heaven and earth to survive through a reduction in output while lowering its factory utilization rate even further. According to industry sources, the naphtha cracking center (NCC) utilization rate of [...]