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 [...]
SEOUL, Jan. 19 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Thursday it will complete the acquisition of AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, later this week. It has invested US$571 million in its U.S. affiliate, LG Chem Life Science Innovation Center, to take [...]
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 [...]
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 [...]
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 [...]