SEOUL, June 12 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Sunday it has signed an agreement with cosmetics company Cosmax Co. to enhance collaboration in developing and marketing eco-friendly cosmetics containers. Cosmax is an original design manufacturer (ODM) with a customer base of some 1,000 global cosmetics companies including [...]
SEOUL, May 31 (Korea Bizwire) — LG Chem Ltd. said Wednesday it broke ground for its fourth carbon nanotube (CNT) plant in South Korea, to more than double output of the key industrial material in the next few years. The CNT 4 plant, to be located in LG Chem’s Daesan complex, in Seosan, about 83 [...]
SEOUL, May 18 (Korea Bizwire) — LG Chem Ltd. said Thursday it has won a contract to exclusively supply its key filter membrane product for a large-scale water desalination project in Israel. LG Chem will supply some 30,000 reverse osmosis (RO) membranes to a joint desalination plant led by two Israeli companies — Shapir Engineering [...]
SEOUL, May 18 (Korea Bizwire) — LG Electronics Inc. announced on Wednesday its entry into the functional material industry by launching the production of antibacterial glass powder, a move aimed at securing new avenues for growth. Leveraging its expertise in independent glass formulation and design technology, as well as its understanding of real-life usage scenarios [...]
SEOUL, May 17 (Korea Bizwire) — Kumho Petrochemical said Wednesday it has signed an initial pact with two Japanese firms to secure a key biomaterial needed for tire manufacturing from Japan. Kumho Petrochemical signed a memorandum of understanding (MOU) on the supply of bio-styrene monomer (bio-SM) with oil and petrochemical firm Idemitsu Kosan and Sumitomo [...]
SEOUL, May 11 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it expects to generate at least 7 trillion won (US$5.26 billion) in annual revenue from its secondary battery components segment by 2030, as the recent acquisition of a local copper foil maker and other projects for a green transition will take hold. “We think [...]
SEOUL, May 4 (Korea Bizwire) — CJ Cheiljedang Corp., a major South Korean food manufacturer, said Thursday its biocompatible polyester material has received approval from the U.S. Food and Drug Administration (FDA) for use as food packaging material. CJ Cheiljedang said the FDA’s approval of amorphous polyhydroxyalkanoate (PHA) — a softer and more rubbery version [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd. said Thursday its first operating quarter profit shrank 22.8 percent from a year earlier as a global economic slowdown dampened petrochemical demand in major industries. Operating profit reached 791 billion won (US$592 million) in the January-March period, compared with 1.02 trillion won the previous year, the [...]
SEOUL, April 20 (Korea Bizwire) — The South Korean government will earmark 28 billion won (US$21.09 million) over the next four years to support corporate development of fine chemicals for the semiconductor, display and secondary battery fields, the industry ministry said Thursday. The government will choose companies this year that will take part in the [...]
SEJONG, April 17 (Korea Bizwire) —POSCO FutureM, a company developing secondary battery materials as a core business for the future, has provided its core workforce with shares worth 800 million won (US$609,000). The shares were given to key employees as restricted stock units (RSUs), and the employees can dispose of them only if they fulfill [...]