SEOUL, Oct. 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it will build a battery separator production plant in Hungary with Japanese chemical giant Toray Industries Inc. as part of efforts to expand its presence in the European market. Under the 50:50 joint venture deal, the two companies will [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday its third-quarter net profit rose 19.2 percent from a year earlier, backed by solid petrochemical sales despite the one-off factor from its electric battery (EV) recall costs. The net income came to 679.9 billion won (US$581.9 million) in the [...]
SEOUL, Oct. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday it will establish technical support facilities in the United States and Europe to improve customer care services in its main markets. LG Chem will invest around 120 billion won (US$103 million) to establish tech centers in Ohio, the United [...]
SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s LG Chem Inc. said Tuesday it will collaborate with the American agricultural processor Archer Daniels Midland Co. (ADM) to build a bio-based plastic plant in the United States. LG Chem and ADM have agreed to establish a joint venture by early next year to build a manufacturing plant [...]
SEOUL, Sept. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s biggest chemical firm, said Sunday it will produce biodegradable plastics after joining hands with a smaller local chemical company in a move to expand its presence in the eco-friendly product market. Under the partnership with TK Chemical Corp., LG Chem will develop and produce [...]
SEOUL, Aug. 23 (Korea Bizwire) — Shares of South Korean chemical firm LG Chem Ltd. plunged more than 10 percent on the Seoul bourse Monday, following American automaker General Motors’ decision to additionally recall Bolt electric vehicles equipped with its subsidiary’s batteries over fire risks. Shares of LG Chem, which wholly owns battery maker LG [...]
SEOUL, Aug. 19 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it will invest 2.6 trillion won (US$2.2 billion) by 2028 to step up its domestic manufacturing capacity for eco-friendly materials. LG Chem said it will build 10 new chemical factories in Seosan, about 140 kilometers southwest of Seoul, to [...]
SEOUL, Aug. 5 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, exported the first shipment of its bio-balanced superabsorbent polymer (SAP) on Wednesday. Bio-balanced SAPs are produced with renewable raw materials such as waste cooking oil and palm byproducts. The new SAP can absorb 200 times its weight in water, and is [...]
SEOUL, July 29 (Korea Bizwire) – LG Chem Ltd., South Korea’s leading chemical firm, said Thursday its second-quarter net profit rose to the highest level ever on strong electric vehicle (EV) battery and petrochemical sales. LG Chem’s net profit came to 1.6 trillion won (US$1.4 billion) in the April-June period, skyrocketing 289.5 percent from a [...]
SEOUL, July 29 (Korea Bizwire) — South Korea’s top chemical firm, LG Chem Ltd., said Thursday it will take over LG Electronics Inc.’s battery separator business at 525 billion won (US$458.5 million) to expand its battery material portfolio. LG Chem, the parent of battery maker LG Energy Solution Ltd., said it decided to acquire LG [...]