SEOUL, Sept. 24 (Korea Bizwire) –LG Chem Ltd., South Korea’s leading chemical company, said Sunday it has partnered with China’s Huayou Group to build four electric vehicle (EV) battery material plants in Morocco and Indonesia amid an acceleration in electrification. On Friday, LG Chem signed four separate initial pacts with Huayou Group to build [...]
SEOUL, Sept. 21 (Korea Bizwire) —SK Chemicals is contemplating the potential sale of its pharmaceutical business to Glenwood Private Equity (PE), a private equity fund manager. In response to a disclosure request from the Korea Exchange regarding Glenwood PE’s proposed acquisition of SK Chemicals’ pharmaceutical business unit, SK Chemicals stated, “We are in the process [...]
SEOUL, Sept. 21 (Korea Bizwire) — The European Chamber of Commerce in Korea (ECCK) on Thursday called for South Korea to consider allowing greater flexibility in adopting regulations for electric vehicle (EV) batteries, plastic recycling and other major industries, to help further promote the trade between Seoul and the economic bloc. The ECCK made the [...]
SEOUL, Sept. 19 (Korea Bizwire) – Lotte Chemical has introduced a new eco-friendly material brand called ECOSEED. They unveiled it during a “Green Recycling Day” event on Monday at Lotte World Tower in Jamsil as part of their 2030 vision for recycling. Under the ECOSEED brand, the company combines recycled materials (PCR) and biodegradable plastics [...]
SEOUL, Aug. 28 (Korea Bizwire) — LG Chem Ltd. said Monday it is spending 124.6 billion won (US$94.1 million) over the next two years to expand its manufacturing facility for its key filter membrane product used in water desalination. The facility, located in the central provincial city of Cheongju, will have an annual production capacity [...]
SEOUL, July 27 (Korea Bizwire) — LG Chem Ltd. said Thursday its second-quarter profit sank 30 percent from a year earlier as global demand for petrochemicals remained sluggish. Operating income reached 615.6 billion won (US$484 million) in the April-June period, compared with 878.4 billion won the previous year, the company said in a regulatory filing. [...]
SEOUL, July 12 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has raised US$2 billion by selling exchangeable bonds (EB) that can be converted to shares of its battery-making subsidiary, LG Energy Solution Ltd. The bond sale came in two tranches worth $1 billion each, with the coupon for five-year EBs set at 1.25 [...]
SEOUL, July 7 (Korea Bizwire) — SKC Co., a chemical company under South Korea’s SK Group, said Friday it acquired a local semiconductor test equipment maker for 522.5 billion won (US$399 million) as it accelerates its push for a pivot to the manufacturing of semiconductor and battery components. SKC took over a 35.8 percent stake, [...]
SEOUL, July 6 (Korea Bizwire) — SK Chemicals Co. said Wednesday it has utilized its chemically recycled PET (CR-PET) to create new packaging for food giant Ottogi Co.’s port cutlets and steak sauces. The company emphasized that it was the first in the local food industry to develop and commercialize food containers using 100 percent [...]
SEOUL, June 12 (Korea Bizwire) — SKC Co., a South Korean manufacturer of advanced materials, signed Monday a preliminary agreement with the government of Vietnam’s Hai Phong city to explore potential investment in advanced materials for secondary batteries, semiconductors and other green sectors. Under the memorandum of understanding, SKC will consider ways to invest in [...]