SEOUL, May 31 (Korea Bizwire) — LG Chem Ltd., a leading South Korean chemical manufacturer, said Tuesday it will set up a joint venture with a Chinese miner in a bid to strengthen its supply of raw materials for electric vehicle batteries. LG Chem said it will turn its subsidiary, located in the southern South [...]
SEOUL, May 10 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, has developed a new process to convert carbon dioxide in the air into a high value-added material needed for plastic production. The company said Monday it had developed an electrochemical reactor in collaboration with the Korea Institute of Science and Technology [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd. said Wednesday its first-quarter net profit shrank 43.9 percent from a year earlier, as a recent rise in global crude oil prices deteriorated the profitability in its main petrochemical business. Net income came to 769.2 billion won (US$608 million) in the January-March period, compared with 1.3 [...]
SEOUL, April 25 (Korea Bizwire) — LG Chem Ltd. said Monday it has developed a highly heat-resistant plastic material designed to delay thermal runaway in lithium-ion batteries used in electric vehicles. The flame-retardant plastic material can prevent the spread of a flame caused by thermal runaway for more than 400 seconds at the temperature of [...]
SEOUL, March 31 (Korea Bizwire) — LG Chem Ltd. South Korea’s leading chemical company, and CJ Logistics Co., the country’s No. 1 parcel delivery firm, said Wednesday that they will establish a resource circulation system to promote the reuse and recycling of cosmetics containers in collaboration with local reusable packaging startup Innerbottle. Innerbottle will produce [...]
SEOUL, Feb. 8 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, said Tuesday it aims to more than double its revenue to 60 trillion won (US$50.1 billion) by 2030 as it accelerates its push for a green transition with a focus on sustainable materials and battery components. Unveiling its mid- to long-term [...]
SEOUL, Jan. 18 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical producer, said Tuesday it is building its first plastic recycling plant in South Korea that will process used plastics using high-temperature steam, accelerating its push for clean materials. The plant, to be built in the southwest city of Dangjin by the first [...]
SEOUL, Jan. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical materials producer, said Tuesday it will build a new factory in South Korea to produce high-nickel cathode materials for electric vehicle (EV) batteries as it further pushes to upgrade the key battery component materials. The construction for the new cathode plant broke [...]
SEOUL, Dec. 29 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle battery maker, will invest 475.4 billion won (US$400 million) in cathode materials plant, the trade ministry said Wednesday. LG Chem will set up LG Battery Core Material to produce 60,000 tons a year of cathode materials and create 187 jobs for [...]
SEOUL, Dec. 15 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, and its subsidiary LG Energy Solution Ltd. said Wednesday they have jointly acquired a stake in a Canadian lithium-ion battery recycling company. LG Chem and the battery maker LG Energy Solution invested 30 billion won (US$25.3 million) each to acquire a [...]