Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
South Korean military plans to launch new division for future warfare
-
7
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
[THE INVESTOR] South Korean chemicals firm LG Chem said Sunday that it will drive up production of its high-end specialty chemicals in preparation for increasing competition in the global petrochemicals market.
LG Chem plans to double its sales of specialty chemicals such as its self-developed polyolefin products, acrylonitrile butadiene styrene and engineering plastics to 7 trillion won ($6.2 billion) by 2020.
The chemicals firm plans to focus on producing more specialty chemicals based on its exclusively-developed propriety metallocene catalyst, the company said. The technology lets LG Chem produce upgraded versions of existing products such as polyethylene and polypropylene, which are sold at higher prices in the market, it added.
As part of such efforts, the company has already invested some 400 billion won into driving up the production capacity of its elastomers -- a specialty chemical that combines the properties of rubber and plastic -- facilities to 290,000 tons by 2018.
It also plans to double the specialty chemicals portion of its net polyolefin production from the current 30 percent to 60 percent by 2020, among similar production hikes for its alternative high-value chemicals.
By Sohn Ji-young/The Korea Herald (jys@heraldcorp.com)
