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LG Chem Breaks Ground for 310 bln-won Plastic Recycling, Aerogel Plants

LG Chem Breaks Ground for 310 bln-won Plastic Recycling, Aerogel Plants

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 [...]

LG Chem Invests US$75 mln in U.S. Lithium Firm for Car Battery Business

LG Chem Invests US$75 mln in U.S. Lithium Firm for Car Battery Business

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 [...]

LG Chem’s 2022 Profit Sinks 40 pct on Weak Petrochemical Demand

LG Chem’s 2022 Profit Sinks 40 pct on Weak Petrochemical Demand

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 [...]

LG Chem Signs Deal with Local Venture for Fishing Net Waste Supply

LG Chem Signs Deal with Local Venture for Fishing Net Waste Supply

SEOUL, Jan. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical producer, said Thursday it has signed an initial agreement with a local startup on the supply of fishing net waste to use it as feedstock for plastic recycling. Netspa, LG Chem’s new partner, has developed a technology to extract high-purity nylon from [...]

LG Chem Invests in Battery Recycling Startup for N. America Venture

LG Chem Invests in Battery Recycling Startup for N. America Venture

SEOUL, Dec. 21 (Korea Bizwire) — Major South Korean chemical firm LG Chem Ltd. said Wednesday it is buying a stake in a local battery recycling startup for a joint venture in North America, accelerating efforts to secure key components for electric vehicle batteries. LG Chem signed the agreement Tuesday with JaeYoung Tech Ltd. to [...]

LG Chem, Korea Zinc Team Up for Battery Components Supply in North America

LG Chem, Korea Zinc Team Up for Battery Components Supply in North America

SEOUL, Nov. 23 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical producer, said Wednesday it forged a partnership with a major South Korean smelter of nonferrous metals to work together for a stable supply of electric vehicle (EV) battery components in North America. LG Chem said it signed a memorandum of understanding with [...]

LG Chem to Spend 310 bln Won on New Plastic Recycling, Aerogel Plants in S. Korea

LG Chem to Spend 310 bln Won on New Plastic Recycling, Aerogel Plants in S. Korea

SEOUL, Nov. 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical producer, said Wednesday it is spending 310 billion won (US$234 million) in total to build new facilities for plastic recycling and the production of a thermal insulator component. LG Chem said it is on track to break ground on the plastic pyrolysis [...]