SEOUL, Oct. 23 (Korea Bizwire) — LG Chem Ltd. said Tuesday that it will invest 2.1 trillion won (US$1.8 billion) by 2023 to build electric vehicle batteries in China in the latest move to meet growing demand for batteries for zero-emissions cars. South Korea’s top chemical company said it has broken ground for a three-story [...]
SEOUL, Sept. 10 (Korea Bizwire) — Vietnam’s VinFast Trading and Production Ltd. said it has a signed an initial agreement with LG Chem Ltd., South Korea’s biggest chemical company by sales, to receive batteries for its electric scooters and electric cars. LG Chem will also supply batteries for electric buses, smartphones and other products in [...]
SEOUL, Jul. 23 (Korea Bizwire) — LG Chem Ltd., South Korea’s biggest chemical company by sales, said Monday it will invest 2.8 trillion won (US$2.4 billion) to expand its local naphtha cracking center (NCC) and polyolefin (PO) plant by 2021. The company will spend 2.6 trillion won to increase output capacity of the NCC and [...]
SEOUL, Jul. 18 (Korea Bizwire) — LG Chem Ltd., South Korea’s biggest chemical company by sales, said Wednesday it will invest US$2 billion by 2023 to build its second car battery plant in China. LG Chem is building the second plant in Nanjing to “preemptively prepare for a growing demand for electric vehicles, with an [...]
SEOUL, Jul. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday it has signed a five-year deal with Nemaska Lithium, a Canadian supplier of lithium hydroxide, a key material in making electric vehicle batteries. The deal allows LG Chem to receive 7,000 tons of lithium hydroxide per year, enough for [...]
SEOUL, Apr. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday that it has decided to invest 239.4 billion won (US$224.8 million) in two separate joint ventures with Huayou Cobalt Co., a Chinese supplier of the mineral. The deal underscored LG Chem’s efforts to secure a stable supply of cobalt, [...]
SEOUL, March 16 (Korea Bizwire) — Leaders of South Korea’s major business groups and economic organizations will accompany President Moon Jae-in on his visit to Vietnam and the United Arab Emirates (UAE) next week to further strengthen economic cooperation, industry sources said Friday. Moon will visit Vietnam and the UAE between March 22 and 27 [...]
SEOUL, Jan. 4 (Korea Bizwire) — Despite the agreement between the Chinese and South Korean governments made last October to resume normal ties, it appears domestic electric car battery manufacturers are still feeling the brunt of China’s ill feeling, as the Chinese government once again excluded EVs equipped with South Korean batteries from its list [...]
SEOUL, Sept. 20 (Korea Bizwire) — The Ministry of Environment’s resource recycling program, which began in 2014 to pressure industrial operations that dispose of large amounts of waste, has proven more effective than expected. According to data released by the Ministry of Environment Tuesday, many of the companies that are on board with the trial resource [...]
SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year’s stock rally driven by large caps, data showed Thursday. POSCO’s market capitalization stood at 29.1 trillion won (US$25.8 billion) as of Wednesday, ranking fourth among the top 30 companies [...]