Nike Dunk, Naruto Collaboration: Minato Namikaze Concept Sneakers Wow Fans, Clamors for Official Release 
Nike Scores Partial Victory in Three-Stripe Trademark Battle Against Adidas 
Why are grocery bills so high? 
Emergency Funds: Why You Need One and How to Build It 
Risky business: Why executives keep finding themselves in political firestorms 
Chipotle Denies Portion Sizes Hack After Keith Lee’s Viral TikTok Complaint 
Interest rates: the ugly dilemma facing Europe’s central banks – and why it’s a mistake to cut too soon 
Jacquemus Confirms Nike Air Max 1 Collab; On-Feet Look at Nike Kobe 8 'University Red' 
Some experts say the US economy is on the up, but here’s why voters don’t think so 
Electric air taxis are on the way – quiet eVTOLs may be flying passengers as early as 2025 
$25,000 Jeep EV to Debut 'Very Soon,' Stellantis CEO Confirms 
Burger King Releases $6 Birthday Meal to Celebrate 70th Anniversary with Special Offers 
What the economic data told Rishi Sunak about the best date for a general election 
LG Chem will be investing ₩2.6 trillion or around $2.2 billion as part of its plans to scale up its local manufacturing capacity for environmentally safe materials. The South Korean chemical company unveiled this project on Thursday, Aug. 19.
According to Yonhap News Agency, LG Chem’s goal is to set up a number of these facilities by the year 2028. To be more specific, it will be constructing 10 new chemical plants in Seosan, South Chungcheong Province, that will produce biodegradable materials and others that are used in renewable energy.
Some examples of these materials are the PBAT or the polybutylene adipate-co-terephthalate, a biodegradable plastic that is commonly utilized in making compostable packaging, and the POE or the polyolefin elastomer, which is used in making footwear, wire coatings, photovoltaic films, auto exteriors, and more.
“This investment agreement is a part of the sustainable growth strategy and a signal to announce the full-fledged scale-up of the eco-friendly material business,” Hak Cheol Shin, LG Chem’s chief executive officer, said in a statement. “We will not only strengthen our long-standing partnership with Chungnam Province and Seosan City but also raise the level of cooperation one step further to grow together toward a sustainable future.”
It was mentioned that LG Chem will be breaking ground for the construction of its new PBAT factory and POE plants before this year ends. The aim is to start the commercial operations of these facilities in 2024.
It was added that each POE facility was designed to produce 10,000 tons of eco-friendly materials annually. This amount will raise the company’s total production to 380,000 tons per year and will make LG Chem the no. 2 POE supplier in the world. The firm revealed that it would allocate ₩480 billion for the PBAT factories, and the same amount will be spent on the POE plants, as per The Korea Economic Daily.
Finally, LG Chem and the major local officials from the city of Seosan have gathered on Thursday to sign their investment agreement. The contract will legally allow LG’s chemical arm to lease 790,000 square meters of land for the construction of the said factories.
