SEOUL, Feb. 6 (Korea Bizwire) — South Korea’s top two leading rechargeable battery producers are focusing on different markets as they strive to expand their global presence in this key industry, market watchers said Wednesday. LG Chem Ltd. and Samsung SDI Co. have been moving in different directions as the worldwide market for high-capacity batteries [...]
SEOUL, Jan. 17 (Korea Bizwire) — LG Chem Ltd., a major South Korean EV battery maker, said Thursday that along with other global firms, it plans to use blockchain technology to trace and validate ethically sourced minerals. In a bid to support human rights and environmental protection, as well as help infuse more transparency into [...]
SEOUL, Jan. 10 (Korea Bizwire) – South Korean electric car battery makers such as LG Chem Ltd. are jacking up their investment to strengthen their standing in the global market, industry sources said Thursday. Late last year, LG Chem, the country’s leading electric vehicle (EV) battery manufacturer, announced investments totaling 3 trillion won (US$2.67 billion). [...]
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 [...]