SEOUL, Jan. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical producer, said Thursday it has signed an initial agreement with a local startup on the supply of fishing net waste to use it as feedstock for plastic recycling. Netspa, LG Chem’s new partner, has developed a technology to extract high-purity nylon from [...]
LAS VEGAS, Jan. 8 (Korea Bizwire) — SK Geocentric Co., a South Korean chemical company, said Sunday it has signed a contract with a British firm to build a plastic pyrolysis plant in South Korea, taking a step closer to establishing what will be the world’s first plastic recycling cluster in two years. Under the agreement, [...]
SEOUL, Dec. 25 (Korea Bizwire) — SKC Co., a chemical materials unit of SK Group, said Sunday it will present a range of key products, including a semiconductor glass substrate, battery-grade copper foil and bioplastics, at an upcoming U.S. tech exhibition next week. The glass substrate, considered a “game changer” in semiconductor packaging, will be [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korean petrochemical companies have diversified their naphtha import channels this year amid international sanctions on Russia following its invasion of Ukraine. According to the Korea Petrochemical Industry Association, the nation’s naphtha imports from Moscow stood at 1.92 million tons in the first ten months of this year, down [...]
SEOUL, Nov. 18 (Korea Bizwire) — Lotte Chemical Corp. said Friday it plans to raise 1.1 trillion won (US$824.4 million) in a rights offering as part of efforts to secure funds for its acquisition of a local copper foil maker. Lotte Chemical will issue 8.5 million common shares at a price of 130,000 won per [...]
SEOUL, Nov. 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical producer, said Wednesday it is spending 310 billion won (US$234 million) in total to build new facilities for plastic recycling and the production of a thermal insulator component. LG Chem said it is on track to break ground on the plastic pyrolysis [...]
SEOUL, Nov. 16 (Korea Bizwire) – SK Geocentric Co., a South Korean chemical company, said Wednesday it has signed an initial agreement with a British firm to build a plastic pyrolysis plant here, as it accelerates the push for advanced plastic waste recycling. The head of agreement, signed with the London-based Plastic Energy Ltd., commits [...]
SEOUL, Oct. 31 (Korea Bizwire) — LG Chem Ltd. said Monday its third-quarter operating profit grew 23.9 percent from a year earlier on the back of strong battery materials demand that helped offset lackluster performance in the petrochemicals segment. Operating income came to 901.2 billion won (US$638.1 million) in the July-September period, compared with 727.2 [...]
SEOUL, Oct. 28 (Korea Bizwire) — Lotte Fine Chemical Co. is set to import the world’s first commercially-produced clean (blue) ammonia. The company announced on Thursday that it had signed a deal to import 25,000 tons of clean ammonia with Saudi Basic Industries Corp. (SABIC) and Saudi Arabian Mining Co. (Ma’aden) in Riyadh. This clean [...]
SEOUL, Oct. 27 (Korea Bizwire) — SK Geocentric Co., a chemical unit of South Korea’s SK Group, said Thursday it has signed a binding joint venture agreement with a U.S. partner to build a plastic recycling plant here as it pushes to pivot to green chemicals business. The 50:50 joint venture with Purecycle Technologies Inc. [...]