SEOUL, Oct. 21 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Thursday it will introduce cutting-edge robots at the Ulsan industrial complex, or Ulsan CLX, the company’s flagship refining factory site in the southeastern port city. The new robots at Ulsan CLX include a four-legged walking robot called SPOT as well [...]
SEOUL, Oct. 18 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Tuesday it plans to take over AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, for US$566 million. In a regulatory filing, LG Chem said it will invest the amount in its U.S. affiliate, LG Chem [...]
SEOUL, Oct. 18 (Korea Bizwire) – LG Chem Ltd. and Lotte Chemical Corp. said Tuesday they plan to showcase their latest lineups of eco-friendly plastics and other advanced materials at a plastics trade show in Germany this week, as part of efforts to tap deeper into the European market. LG Chem, South Korea’s leading chemicals [...]
SEOUL, Oct. 12 (Korea Bizwire) — Hyundai Chemical Co. has completed the construction of a petrochemical complex using cheap heavy fuel oil as a feedstock in South Korea’s western city of Seosan, a move that diversifies its business portfolio and boosts the country’s exports, the industry ministry said Wednesday. The heavy-feed petrochemical complex was built [...]
SEOUL, Oct. 11 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Tuesday it will invest 5 trillion won (US$3.54 billion) into its flagship Ulsan industrial complex to transform its fossil fuel energy-oriented business to a green energy and material company by 2027. “After building South Korea’s first refinery plant in Ulsan, [...]
SEOUL, Oct. 11 (Korea Bizwire) — Lotte Chemical Corp. said Tuesday it is acquiring a major stake in a leading South Korean copper foil producer for 2.7 trillion won (US$1.88 billion) as part of efforts to advance into the battery components sector. Lotte Chemical signed a stock purchase agreement to take over a 53.3 percent [...]
SEOUL, Sept. 28 (Korea Bizwire) — Youlchon Chemical Co., a South Korean producer of plastic films, said Wednesday it has signed an agreement to supply a key battery component used in electric vehicles to the joint venture company run by LG Energy Solution Ltd. and U.S. General Motors Co. for the next six years. The [...]
SEOUL, Sept. 7 (Korea Bizwire) — South Korean chemical company SK Chemicals Co. said Tuesday that it had teamed up with local toothbrush maker KNK to jointly develop the nation’s first toothbrush made from chemically recycled plastic material. Chemically recycled plastic refers to the material that is made by breaking down and returning waste plastic [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korean chemical company LG Chem Ltd. said Tuesday it is expanding its carbon nanotube factory here as it seeks to bolster its edge in the lucrative electric vehicle battery materials sector. The new carbon nanotube factory will be constructed in its Daesan complex, South Chungcheong Province, about 75 [...]
SEOUL, July 27 (Korea Bizwire) – LG Chem Ltd. said Wednesday its second-quarter net income shrank 54.1 percent from a year earlier, dented by higher oil prices, global inflation and China’s COVID-19 lockdowns. Net income came to 718.3 billion won (US$547 million) in the April-June period, compared with 1.56 trillion won the previous year, the [...]