LG Chem, Korea’s largest petrochemical company, will shut down its styrene monomer (SM) plant at the end of March. SM is widely used in the manufacture of various petrochemical products. The company is also reportedly considering abandoning production of ethylene oxide (EO) and ethylene glycol (EG),
LG Chem announced on Jan. 18 that it has signed a master agreement in Rome, Italy, with ENI to establish a joint venture for next-generation bio-oil. The signing ceremony was attended by key figures including Claudio Descalzi, CEO of ENI; Stefano Ballista, CEO of ENI Live; Vice Chairman Shin Hak-che
Lotte Chemical has sold off all of its plants producing general-purpose petrochemicals in China. General-purpose petrochemicals have become a marginal business for the company with deteriorated profitability due to aggressive expansion by Chinese companies.According to industry sources on Oct. 9, Lo
LG Chem is planning to build the first domestic Hydrogenated Vegetable Oil (HVO) factory in Daejeon in partnership with an Italian state-owned energy company, with completion expected by 2026.On Sept. 14, LG Chem announced its collaboration with ENI S.M., a subsidiary of Italy’s largest state-owned
Samyang Corp., a chemical and food affiliate of Samyang Group, announced on Dec. 28 that it has developed Korea’s first eco-friendly polycarbonate (PC) with the post-consumer recycled polycarbonate (PCR PC) content above 90 percent.PC is an engineering plastic that is transparent and resistant to im
SK geocentric is introducing the world's first 'waste plastic recycling cluster' at a global plastics expo in Germany, the company announced on Oct. 21SK geocentric is participating in K 2022, the world's largest plastic and rubber industry fair which is held in Dusseldorf, Germany f
Sisley-L, a global artist and NFT expert who became famous by winning the highest bid for a young artist at a Christie's auction, is attending one of the world's top 3 art shows, the LA ART Show. In the past, she attended an invitational exhibition at SAATCHI Gallery, London, with which worl
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 3Q21 OP to exceed market consensus at KRW61.5bnHansol Chemical is forecast to post operating profit of KRW61.5bn (+14.2% QoQ, +19.9% YoY) on sales of KRW205bn (
LG Chem announced on Aug. 30 that it has signed a memorandum of understanding (MOU) with Veolia R&E, Korea's largest producer of recycled methyl methacrylate (MMA), to commercialize low-carbon transparent ABS based on chemically recycled MMA.Veolia R&E is a subsidiary of the French company Veoli
Lotte Chemical will stop producing expanded polystyrene (EPS), a product that logged 87.8 billion won in sales last year, accounting for 0.72 percent of the company’s total sales. It will retool EPS facilities to expand production of high value-added acrylonitrile butadiene styrene (ABS).EPS is a ra
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. Earnings surprise expected for 1Q21Hansol Chemical is expected to have registered operating profit of KRW53bn (+97.6% QoQ, +50.7% YoY) on sales of KRW171bn (+7.
LG Chem announced on March 23 that it will work with Innerbottle, a domestic startup, to build a plastic eco-platform to recycle plastic cosmetics containers.Innerbottle is an innovative startup that provides sustainable eco-friendly packaging solutions. It boasts with more than 50 intellectual prop
SK Global Chemical, a subsidiary of SK Innovation, announced on March 14 that it has signed a business agreement with STL, a petrochemical company in China, to establish a joint venture to produce and sell ethylene acrylic acid (EAA), a functional adhesive resin used for packaging goods such as alum
LG Chem recently signed an MOU with Wuxi City in Jiangsu Province, China, to establish a technology center.Under this agreement, LG Chem will invest about 30 billion won to build the Huadong Tech Center in Wuxi City. The center is designed to provide technical support to local clients and develop ne
Hyundai Motor Group chairman Chung Eui-sun met with Lotte Group chairman Shin Dong-bin on Nov. 25 to discuss cooperation in future cars. As Lotte Group is focusing on high-tech materials, the two groups are likely to come up with a partnership in the future car sector.Chung met with Shin at a high-t
LG Chem will produce eco-friendly plastic synthetic resins by using bio-materials instead of petroleum.LG Chem announced on Nov. 5 that it has signed a memorandum of understanding (MOU) with Finland's Neste, the world's largest biodiesel company, to jointly promote a bio-based environmental
Until recently, the chemical and oil refining industries moved in close connection to the international oil price, that is, product prices and corporate profits rose or fell along with the oil price. However, COVID-19 has completely changed this. The chemical industry is recovering fast whereas the
LG Hausys' artificial marble products have been recognized as eco-friendly by U.S. certification organization Scientific Certification Systems (SCS) Global Services.LG Hausys announced on Sept. 10 that a total of six artificial marble products have obtained the "SCS Recycled Content Certificate"
Hyundai Motor Co. and ELEKTRA have launched a collaborative art exhibition, “HYUNDAI X ELEKTRA: METAMORPHOSIS,” which highlights creative ways of imagining individual and societal transformations in a post-pandemic world. The exhibition at Hyundai Motorstudio Seoul runs from June 15 to Sept. 20. It
A Korean scientist in the United States has come up with a way that can produce a “transparent brain” 100 times faster than before.Prof. Chung Kwang-hun of the Massachusetts Institute of Technology (MIT), who is credited with developing an innovative technology to produce a transparent brain in 2013