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LG Chem Invests in Large-Scale Domestic Investment to Advance its Basic Material Structure
LG Chem invests a total of 2.8 trillion won to invest in Yeosu Naphtha Decomposition Facility (NCC) and High Polyolefin value (PO
With this investment, annual sales of 3 trillion won will increase and the annual construction period will reach 2.5 million people
LG Chem is expected to create 300,000 square meters (㎡ · 100,000 pyeong ) in the Yeosu Industrial Complex in Jeollanam-do,
Once the expansion is completed, LG Chem's (NCC's) NCC production capacity is expected to increase of 20 000 tonnes,) Increased to 3.3 million tonnes,
LG Chem will invest in large scale domestic investments to improve its core business structure. (Source: LG Chem)
High value-added PO, currently being promoted by LG Chemical to a multipurpose product line, is expected to increase production capacity to 1.8 million tonnes by 2022, of which 800 000 tonnes this year.
LG Chem secures the ethylene needed to develop its high value-added PO business compared to the large-scale backlog, while propylene-
In addition, the PO activity to strong added value, which has focused on improving the structure of its activities, should progress steadily beyond the stabilization phase. LG Chem explained.
LG Chemical's NCC production capacity. (LG Chem)
LG Chem is developing its high added value PO, which represents about 50% of its total PO activity, to 75% by 2022 and enjoys a significant volume advantage. of production and market share
PO with high added value is a product based on ethylene-based polyolefin and high performance / environmentally friendly catalysts, mainly used for functional films and automotive plastic materials, functional footwear,
In particular, the global high-value PO market is expected to grow at a CAGR of more than 7% per annum, from KRW 13 trillion. Last year to 18 000 billion KRW in 2022.
LG Chem has developed an exclusive "metallocene catalyst", a proprietary catalyst developed by LG Chemical, producing high value added PO products of superior quality compared to competitors.
LG Chemical expands its domestic production facilities and high added value facilities to produce a variety of products from basic raw materials such as ethylene and catalysts. · We will continue to extend vertical integration to the end product and continue to grow in the core materials sector that can generate stable profitability in the future.
On the other hand, LG Chem plans to actively promote promising materials for future preparations.
LG Chem is today in the Seomun National Industrial Complex in Dangjin,
Promising materials for the future are generally clbadified as ultra-insulating, lightweight and high-resistance materials. industrial purposes.
The Seomun Industrial Complex developed a complex industrial complex with a total area of millions 12 million (363,000 pyeong), with an investment of more than KRW 200 billion in the medium and long term. LG Chem is actively cooperating with government agencies such as the Ministry of Commerce, Industry and Energy in Chungnam and Dangjin to contribute to the creation of the local economy and the creation of local businesses. jobs through these efforts.
Sonok-dong LG "Through this investment, we can move closer to the goal of improving our business structure focused on high value-added products." Based on its differentiated competitiveness, we will continue to provide the foundation to create excellent results in any environment. "
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