SEOUL, Aug. 16 (Korea Bizwire) — LG Chem Ltd. said Tuesday it will build two production facilities in the U.S. state of Illinois with a U.S. food processing company to produce a biodegradable plastic widely used in food packaging. Under the two joint ventures with Archer Daniels Midland Co. (ADM), an agricultural food processor and [...]
SEOUL, July 27 (Korea Bizwire) – LG Chem Ltd. said Wednesday its second-quarter net income shrank 54.1 percent from a year earlier, dented by higher oil prices, global inflation and China’s COVID-19 lockdowns. Net income came to 718.3 billion won (US$547 million) in the April-June period, compared with 1.56 trillion won the previous year, the [...]
SEOUL, July 27 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has clinched a long-term supply agreement with General Motors Co. to provide the U.S. carmaker with key materials for electric vehicle (EV) battery cells. LG Chem, the country’s leading chemical firm, will supply more than 950,000 tons of cathode materials under the eight-year [...]
SEOUL, July 22 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, is making forays into the sustainable materials market through the export of its first bio-based phenol and acetone. The company announced on Thursday that it will export its first phenol and acetone products made of biomaterials such as waste vegetable oil. [...]
SEOUL, July 19 (Korea Bizwire) — U.S. Treasury Secretary Janet Yellen on Tuesday called for building resilient supply chains with allies to ease inflation and prevent countries like China from exercising leverage over the supply of key materials. Yellen made the call in a speech after touring an LG Chem battery facility in western Seoul, [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s leading chemicals maker LG Chem Ltd. said Friday it has issued global green bonds worth US$300 million to help bolster the competitiveness of its battery materials business and finance more investments in eco-friendly businesses. The parent company of major battery maker LG Energy Solution Ltd. said the [...]
SEOUL, July 1 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, said Thursday it will take the initiative to build a virtuous resource cycle ecosystem using plastic waste with its business partners. The company signed a memorandum of understanding with Sampyo Cement, Hyundai Rotem, the Korea Engineers Alliance and the Korea Cement Association [...]
SEOUL, June 20 (Korea Bizwire) — LG Chem Ltd. said Monday it is building a hydrogen plant in South Korea to produce clean fuel for use in its key petrochemical processing in line with its long-term low carbon emission goals. The hydrogen plant, to be located in its Daesan complex, about 75 kilometers southwest of [...]
SEOUL, June 14 (Korea Bizwire) — LG Chem Ltd., a leading South Korean chemical manufacturer, said Tuesday it had signed a heads of agreement with GS EPS Co., a utility affiliate of GS Group, to promote cooperation in the development of biomass-based eco-friendly energy solutions. The two parties plan to use renewable energy fuel made [...]
SEOUL, June 2 (Korea Bizwire) — LG Chem Ltd., a leading chemical company, said Thursday it is building a battery precursor plant in South Korea with a raw battery materials producer in an effort to secure a stable supply of key components for electric vehicle batteries. The joint venture agreement with Kemco, a nickel sulfate [...]