LG Chem and GS Caltex Unveil 3-HP Pilot Plant and BDO Technology MOU

LG Chem Ltd. and GS Caltex, both based in Seoul, South Korea, have broken ground on a pilot plant to develop a white-bio ecosystem and commercialize bio-raw materials. They announced their joint development agreement last year. The groundbreaking ceremony at GS Caltex’s Yeosu plant was attended by LG Chem’s CEO Hak Cheol Shin, GS Caltex’s … Read more

LG Chem to Sell Polariser Businesses to Chinese Firms for $815.6 Million

LG Chem Ltd, a prominent South Korean petrochemicals manufacturer, has announced its decision to divest its polariser businesses to Chinese companies in a strategic move aimed at enhancing its competitiveness in the market. The transaction is valued at approximately 1.1 trillion Korean Won (approximately $815.6 million USD). The polariser business division of LG Chem is … Read more

LG Chem breaks ground for 4th Carbon Nanotube plant in South Korea

LG Chem Ltd., South Korea’s leading chemicals company, has recently commenced the construction of its fourth carbon nanotube (CNT) plant in the country. The new facility, named CNT 4, will be located in LG Chem’s Daesan complex, situated in Seosan, approximately 83 kilometers away from Seoul. This expansion aims to significantly increase the production capacity … Read more

LG Chem to Build Pyrolysis Plant for Plastic Recycling and Aerogel Production

LG Chem Ltd. initiated the construction of a plant for supercritical pyrolysis and aerogel production in Seongmun National Industrial Complex, located 150 kilometers southwest of Seoul. With an investment of 310 billion won ($238.6 million), this new facility will enhance LG Chem’s plastic recycling businesses and enable the production of aerogel insulation material using the … Read more

LG Chem ships Bio-based Phenol and Acetone

South Korean petrochemical producer LG Chem will ship its first bio-based phenol and acetone to a German renewable polymer producer. LG Chem will export 4,000 tons of phenol and 1,200 tons of acetone, totaling 5,200 tons, and this is the largest volume of ISCC PLUS certified product ever exported from South Korea. Phenol is the … Read more

LG Chem to Build Hydrogen Plant in South Korea

LG Chem announced its plan to produce hydrogen as a key component of its long-term 2050 Net Zero corporate sustainability goal. Aligned with this goal, South Korea’s largest chemical company said it would establish a plant in Daesan, Korea, with the capacity to produce 50,000 tons of hydrogen annually by the second quarter in 2024. … Read more

LG Chem, GS Caltex to Produce Biodegradable Plastic Material

LG Chem Ltd. and GS Caltex will team up to jointly develop mass production technologies of eco-friendly materials for a circulating economy and carbon neutrality. LG Chem signed Joint Development Agreement (JDA) related to the development of mass production technology for 3HP (hydroxypropionic acid), which is a biodegradable plastic material, and production of prototypes with … Read more

LG Chem and Danusk Enter a JV to Establish Bio-oil Plant in South Korea

LG Chem Ltd. will partner with biodiesel company Dansuk Industrial to establish a joint plant, in order to secure bio-materials required for the production of eco-friendly products. LG Chem announced that it had signed a Heads of Agreement (HOA) for the establishment of a hydro-treated vegetable oil (HVO) joint venture at the Dansuk Industrial headquarters … Read more

LG Chem Invests $2.2 Billion on Eco-friendly Materials Business

LG Chem is investing 2.6 trillion Won (~$2.2 billion) over the next eight years to build 10 new plants that will produce eco-friendly materials at its Daesan petrochemical complex in Chungnam province. The investment will include plants that will produce 50,000 tonnes per year of polybutylene adipate-co-terephthalate (PBAT) and 100,000 tonnes per year of polyolefin … Read more

LG Chem Partners with Neste of Finland for Production of Eco-Friendly Resins

LG Chem has signed a strategic partnership with Neste, a leading biodiesel producer based in Finland, to accelerate the production of eco-friendly resins from biomaterials. Neste is a leading company in the biodiesel field with its own proprietary process technology. 80% of this global company’s operating profit is generated from biofuels and eco-friendly products. Through … Read more

PETRONAS Chemicals and LG Chem to Build Nitrile Butadiene Latex Plant

PETRONAS Chemicals Group Berhad (PCG) and LG Chem recently inked an agreement to build a Nitrile Butadiene Latex (NBL) manufacturing plant at Pengerang Integrated Complex (PIC) in Johor. PCG said in a press release that this facility will target the growing nitrile glove market, further strengthening Malaysia’s position as the largest exporter of gloves globally. … Read more

LG Chem in $1.1 billion Deal with Chinese Firm to Sell LCD Polarizer Business

LG Chem announced on June 10 that it has recently signed a conditional contract with China’s chemical materials company Shanshan to transfer its LCD polarizer business for US$1.1 billion. LG Chem said that some product groups such as LCD polarizers for automobiles will be excluded from this sale as they are still lucrative. “We are … Read more

Indian Tribunal Blames LG Chem for Safety Lapses at Vizag Polymer Plant

A committee appointed by India’s top environmental court has blamed “gross human failure” and lack of basic safety norms for a gas leak in LG Chem polymer plant last month that killed 12 people and sickened hundreds. The committee said the tanks from which the gas leaked May 7 at the LG Polymers plant in … Read more

LG Chem Secures $5 B in Loans from S. Korean Lenders to Expand Battery Business

LG Chem will be backed by South Korea’s state lenders with $5 billion in policy loans to finance its expansion in secondary battery factories across the world over the next five years as a part of the government push to promote battery business. LG Chem signed an agreement with Korea Development Bank, Export-Import Bank of … Read more

LG Chem Opens New Petchem Technology Center in South Korea

LG Chem announced on Thursday it has opened a technical service and development center in Osan, Gyeonggi Province, marking the country’s largest petrochemical technology center. The company invested 110 billion won ($94.8 million) in establishing the center, it said. The petrochemical tech center is part of LG Chem’s plan to boost its competitiveness in the … Read more