State spending on strategic industries to surge 43% next year
SEOUL, Oct. 11 (Yonhap) — LG Chem Ltd., South Korea’s leading chemical company, said Monday it will establish technical support facilities in the United States and Europe to improve customer care services in its main markets.
LG Chem will invest around 120 billion won (US$103 million) to establish tech centers in Ohio, the United States, and Frankfurt, Germany, with their full-scale operations scheduled to start in 2023.
The U.S. and Europe are the main markets that account for more than 20 percent of global demand for the company’s strategic products, LG Chem said.
The company said each tech center is a “dedicated customer support organization” that will provide comprehensive technical solutions like product development and quality improvement to those who purchase its petrochemical products.
This computer-generated image provided by LG Chem Ltd. on Oct. 11, 2021, shows the company’s tech center to be built in Ohio, the United States. (PHOTO NOT FOR SALE) (Yonhap)
LG Chem added its American and European tech centers will each have various pilot facilities for customer-tailored technical support, particularly centered on automotive materials and packaging films, as well as eco-friendly products.
A total of 70 research and development experts, including application technology teams, such as extrusion processing and injection technology, will be stationed to provide technical support in need, the company said.
With its American and European tech centers, LG Chem said the company will have a “global quadrilateral customer support system,” connecting South Korea, China, the United States and Europe.
LG Chem is currently building a tech center in Huadong, China, with its operation slated for 2022.
In addition to tech centers, LG Chem will also build an acrylonitrile butadiene styrene (ABS) compound plant at the site of the U.S. tech center. It will invest around 60 billion won to construct the facility that will have an annual production capacity of 30,000 tons by 2023.
The North American market accounts for 10 percent of global demand for ABS, the company added.
LG Chem said it also plans to consider building an ABS polymerization plant to better respond to North American customers.
kdon@yna.co.kr
(YONHAP NEWS)