SEOUL, May 10 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, has developed a new process to convert carbon dioxide in the air into a high value-added material needed for plastic production. The company said Monday it had developed an electrochemical reactor in collaboration with the Korea Institute of Science and Technology [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd. said Wednesday its first-quarter net profit shrank 43.9 percent from a year earlier, as a recent rise in global crude oil prices deteriorated the profitability in its main petrochemical business. Net income came to 769.2 billion won (US$608 million) in the January-March period, compared with 1.3 [...]
SEOUL, April 25 (Korea Bizwire) — LG Chem Ltd. said Monday it has developed a highly heat-resistant plastic material designed to delay thermal runaway in lithium-ion batteries used in electric vehicles. The flame-retardant plastic material can prevent the spread of a flame caused by thermal runaway for more than 400 seconds at the temperature of [...]
SEOUL, March 31 (Korea Bizwire) — LG Chem Ltd. South Korea’s leading chemical company, and CJ Logistics Co., the country’s No. 1 parcel delivery firm, said Wednesday that they will establish a resource circulation system to promote the reuse and recycling of cosmetics containers in collaboration with local reusable packaging startup Innerbottle. Innerbottle will produce [...]
SEOUL, Feb. 8 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, said Tuesday it aims to more than double its revenue to 60 trillion won (US$50.1 billion) by 2030 as it accelerates its push for a green transition with a focus on sustainable materials and battery components. Unveiling its mid- to long-term [...]
SEOUL, Jan. 18 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical producer, said Tuesday it is building its first plastic recycling plant in South Korea that will process used plastics using high-temperature steam, accelerating its push for clean materials. The plant, to be built in the southwest city of Dangjin by the first [...]
SEOUL, Jan. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical materials producer, said Tuesday it will build a new factory in South Korea to produce high-nickel cathode materials for electric vehicle (EV) batteries as it further pushes to upgrade the key battery component materials. The construction for the new cathode plant broke [...]
SEOUL, Dec. 29 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle battery maker, will invest 475.4 billion won (US$400 million) in cathode materials plant, the trade ministry said Wednesday. LG Chem will set up LG Battery Core Material to produce 60,000 tons a year of cathode materials and create 187 jobs for [...]
SEOUL, Dec. 15 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, and its subsidiary LG Energy Solution Ltd. said Wednesday they have jointly acquired a stake in a Canadian lithium-ion battery recycling company. LG Chem and the battery maker LG Energy Solution invested 30 billion won (US$25.3 million) each to acquire a [...]
SEOUL, Dec. 9 (Korea Bizwire) — LG Chem Ltd. will bolster investment in North and South America, and Europe, to boost its presence in foreign markets, the company’s top executive has said, citing ample opportunities for growth in the global trend toward sustainability. LG Chem CEO Shin Hak-cheol made the remarks in a recent interview [...]