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 [...]
SEOUL, Dec. 9 (Korea Bizwire) — LG Chem Ltd. will bolster investment in North and South America, and Europe, to boost its presence in foreign markets, the company’s top executive has said, citing ample opportunities for growth in the global trend toward sustainability. LG Chem CEO Shin Hak-cheol made the remarks in a recent interview [...]
SEOUL, Oct. 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it will build a battery separator production plant in Hungary with Japanese chemical giant Toray Industries Inc. as part of efforts to expand its presence in the European market. Under the 50:50 joint venture deal, the two companies will [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday its third-quarter net profit rose 19.2 percent from a year earlier, backed by solid petrochemical sales despite the one-off factor from its electric battery (EV) recall costs. The net income came to 679.9 billion won (US$581.9 million) in the [...]
SEOUL, Oct. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday it will establish technical support facilities in the United States and Europe to improve customer care services in its main markets. LG Chem will invest around 120 billion won (US$103 million) to establish tech centers in Ohio, the United [...]
SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s LG Chem Inc. said Tuesday it will collaborate with the American agricultural processor Archer Daniels Midland Co. (ADM) to build a bio-based plastic plant in the United States. LG Chem and ADM have agreed to establish a joint venture by early next year to build a manufacturing plant [...]