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LG Chem to Invest 239.4 bln Won in Joint Ventures with Chinese Firm

LG Chem to Invest 239.4 bln Won in Joint Ventures with Chinese Firm

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, [...]

Chinese Authorities Still Giving S. Korean Electric Car Batteries the Cold Shoulder

Chinese Authorities Still Giving S. Korean Electric Car Batteries the Cold Shoulder

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 [...]

South Korea’s Resource Recycling Program Proves Effective

South Korea’s Resource Recycling Program Proves Effective

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 [...]

POSCO, LG Chem Shine During Large-Cap Rally

POSCO, LG Chem Shine During Large-Cap Rally

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 [...]

Samsung SDI, LG Chem Race to Develop Safer Battery

Samsung SDI, LG Chem Race to Develop Safer Battery

SEOUL, Jul. 4 (Korea Bizwire) — South Korea’s two leading battery manufacturers are racing to develop a new type of smartphone power source that can significantly improve safety, industry sources said Tuesday. According to industry watchers, Samsung SDI Co. and LG Chem Ltd. are currently seeking to commercialize solid-state batteries, which use solid-type electrolytes. The [...]

LG Chem Gets US$12.6 Million from Bill Gates Foundation for Polio Vaccine

LG Chem Gets US$12.6 Million from Bill Gates Foundation for Polio Vaccine

SEOUL, June 8 (Korea Bizwire) – LG Chem Ltd., South Korea’s top chemical firm, said Wednesday that it has received a US$12.6 million grant from the Bill & Melinda Gates Foundation to develop a new polio vaccine. The grant will be used to expand LG Chem’s facility in South Korea and conduct medical trials of its new polio vaccine in overseas countries, LG Chem said in a statement. Since 2014, LG Chem has been developing an inactivated vaccine forpolio, with a second-phase [...]

Samsung SDI to Supply Batteries for New VW e-Golf: Source

Samsung SDI to Supply Batteries for New VW e-Golf: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s Samsung SDI Co. will supply its electric-vehicle batteries to Volkswagen’s new 2017 e-Golf, an industry source said Wednesday. “The new e-Golf equipped with a Samsung battery will go on sale in global markets this spring,” the source told Yonhap News Agency. Samsung SDI and LG Chem Ltd. [...]

Korean Petrochemicals Firms Accelerating Overseas Push

Korean Petrochemicals Firms Accelerating Overseas Push

SEOUL, March 29 (Korea Bizwire) – South Korean petrochemicals firms, led by LG Chem Ltd., are seeking to diversify their export destinations and establish more overseas production facilities, in a bid to reduce their dependence on China, industry sources said Wednesday.  According to the sources, LG Chem, the country’s No. 1 player in the chemicals [...]