SEOUL, May 31 (Korea Bizwire) — LG Chem Ltd. said Wednesday it broke ground for its fourth carbon nanotube (CNT) plant in South Korea, to more than double output of the key industrial material in the next few years. The CNT 4 plant, to be located in LG Chem’s Daesan complex, in Seosan, about 83 [...]
SEOUL, May 18 (Korea Bizwire) — LG Chem Ltd. said Thursday it has won a contract to exclusively supply its key filter membrane product for a large-scale water desalination project in Israel. LG Chem will supply some 30,000 reverse osmosis (RO) membranes to a joint desalination plant led by two Israeli companies — Shapir Engineering [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd. said Thursday its first operating quarter profit shrank 22.8 percent from a year earlier as a global economic slowdown dampened petrochemical demand in major industries. Operating profit reached 791 billion won (US$592 million) in the January-March period, compared with 1.02 trillion won the previous year, the [...]
SEOUL, April 17 (Korea Bizwire) — LG Chem Ltd. said Monday it is joining hands with a Chinese mining company to build a battery precursor factory in South Korea, as it steps up to bolster the supply chains of secondary battery materials. LG Chem plans to sign a preliminary agreement Wednesday with Huayou Cobalt Co., [...]
SEOUL, April 14 (Korea Bizwire) —LG Chem, a South Korean chemical company, and China’s Huayu Cobalt have announced plans to build a joint battery precursor plant in Saemangeum, South Korea. The goal of the partnership is to bolster the domestic supply chain for battery materials in Korea in anticipation of the implementation of the U.S. [...]
SEOUL, April 13 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical company, said Thursday it has entered an agreement with a U.S. renewable chemical firm to develop and commercialize a raw material for bioplastics. LG Chem signed the joint development agreement (JDA) with Gevo Inc., a Colorado-headquartered developer of renewable chemicals and biofuels, [...]
SEOUL, March 30 (Korea Bizwire) – LG Chem Ltd., a leading chemical producer in South Korea, said Thursday that it began the 310 billion-won (US$238 million) project to build facilities for plastic recycling and producing a next-generation thermal insulator component. The envisioned plastic pyrolysis plant in the city of Dangjin, some 78 kilometers southwest of Seoul, will [...]
SEOUL, March 14 (Korea Bizwire) — LG Chem Ltd., a leading South Korean chemicals manufacturer, said Tuesday it has signed a contract to supply the United Nations Children’s Fund (UNICEF) with polio and pentavalent vaccines for infants and children. Under the deal, LG Chem will provide US$200 million worth of the vaccines: $100 million worth [...]
SEOUL, Feb. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Friday it has invested US$75 million to acquire a stake in U.S.-based Piedmont Lithium Inc. for a stable supply of the key material for electric vehicle batteries. With the equity investment, LG Chem owns about 6 percent of Piedmont common [...]
SEOUL, Jan. 31 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals producer, saw its profit shrink 40.4 percent in 2022 from a year earlier due mainly to sluggish petrochemical demand. Operating income reached 2.99 trillion won (US$2.43 billion) in the January-December period, compared with 5.02 trillion won logged the previous year, the company [...]