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 [...]
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 [...]