On July 14, LG Chem announced that it will spend 10 trillion won (approximately US$8.7 billion) in the three major areas of green environmental protection materials, e-Mobility battery materials, and global innovative new drugs by 2025.
Among them, green environmental protection materials plan to invest 3 trillion won, projects include PBAT, PLA, PC, SAP, POE, EVA, thermal conductive glue, negative electrode binder, carbon nanotubes and positive electrode materials.
LG Chem stated that it is actively introducing external technology for the biodegradable plastic PBAT, and will prepare for the goal of starting production facilities within this year.
The size of the bioplastics market is expected to grow rapidly from 12 trillion won in 2020 to 31 trillion won in 2025. Therefore, in order to ensure a stable supply of environmentally friendly raw materials such as PLA made from bio-naphtha, corn and other plant raw materials, LG Chem is actively seeking joint ventures and cooperation with global raw material suppliers.
