To Expand Eco-friendly Businesses
Lotte Chemical announced that it signed a business agreement with Samsung Engineering to expand its carbon neutrality and eco-friendly business on April 5.
Top executives from both companies, including Lotte Chemical CEO Kim Kyo-hyun and Samsung Engineering president Choi Sung-ahn, attended the signing ceremony held at Lotte Signiel Seoul Hotel in Jamsil, Seoul.
The two companies will promote collaboration in the realization of carbon neutrality at Lotte Chemical, joint investment in and development and commercialization of eco-friendly technologies. They aim to achieve the goals of carbon neutrality and eco-friendly businesses by strategically utilizing their expertise and experience.
Specifically, Samsung Engineering will help Lotte Chemical improve energy efficiency, reduce greenhouse gas emissions and environmental impact materials, develop carbon capture and utilization technologies, and promote the green hydrogen business and technology licensing.
In February, Lotte Chemical declared "Green Promise 2030," an ESG management strategy and set the direction and implementation tasks of its eco-friendly business. Its goal is to promote growth without expanding carbon generation by 2030 and achieve carbon neutrality (Net Zero) in 2050.
To this end, Lotte Chemical set up the ESG Management Headquarters at the end of 2020 and is also working with major chemical affiliates of Lotte Group. Samsung Engineering is also zero in on eco-friendly areas under the banner of “Beyond EPC, Green Solution Provider.”