A new ABS production plant will be built in US at the Ohio tech center site   LG Chem's tech center and ABS facilities to be built by 2023 in Ohio, US  LG Chem Ltd. will expand global clients’ accessibility to its technical support professionals. The chemical company said on Oct. 11 that it will spend 120 billion won ($100 million) to build LG Chem Tech Centers in the EU and the US.   The tech centers are essentially technical support facilities aiming to provide optimum and timely support for the clients in the region. LG Chem said that the centers will offer comprehensive technical solutions ranging from product development, quality enhancement to productivity improvement. Both centers will be built on sites larger than 7,600 square meters and will start operation in 2023. LG Chem’s new tech center in America will be built in the state of Ohio, while the one in Europe will be set up in Frankfurt, Germany. Ohio and Frankfurt were chosen for proximity to LG Chem’s key clients as well as for product logistics purposes. LG Chem added that Europe and the US account for more than 20% of its global sales of key strategic products. Each of the centers will have more than 70 R&D professionals who include applied technology experts for extrusion and injection. A range of pilot equipment will be housed within the centers for better-tailored technical support for the clients. The company added that the centers will also act as regional bases to recruit top R&D experts.   NEW ABS PLASTIC PRODUCTION COMPOUND TO BE BUILT IN US   LG Chem will also invest an additional 60 billion won ($50 million) to build an acrylonitrile butadiene styrene (ABS) production compound in the US at the site of the Ohio tech center. The new plant will annually produce 30,000 tons of ABS from 2023.  LG Chem is the global market leader of ABS, a thermoplastic polymer used in cars, home appliances and also as construction materials. While the North American market accounts for more than 10% of the global ABS demand, the local supply volume is far less than the demand in the region. LG Chem said it will review plans to build an additional ABS polymerization plant in the US. “The tech centers will provide optimized technical solutions to the clients in Europe and the US. We will continue to lead in the global market with our key strategic line of products,” said No Guk-rae, head of the petrochemical business at LG Chem.   Click here for full press release: https://www.kedglobal.com/newsView/ked202110110002    For more information, please contact:   

North Carolina Lithium Belt North Carolina’s Lithium Belt is an historic lithium mining and producing region in the U.S. It is a premier location for lithium extraction and processing due to its rich deposits of spodumene and ideal location with easy access to infrastructure, power, R&D centers for lithium & battery storage, major high-tech population centers, and numerous downstream lithium processing facilities. From the 1950s to 1990s, two major lithium mines operated in this region as well as two significant lithium processing facilities which continue to supply lithium products to customers today.     Contact for more information on North Carolina’s Lithium Belt: Hyun-Sook KIMManaging Director–––––Economic Development Partnership of North Carolina, Korea Office O:  02.3497.1650      M:  010.8650.3994E:  hskim@impex.or.krKOTRA IKP 404, Heolleung-ro 7, Seocho-gu, Seoul 06792, Korea    

  2021 KITA-ASOK Doing Business in the US Seminar On November 11, 2021, the Korea International Trade Association (KITA) and ASOK held a 'Doing Business in the US' seminar.  During the event, member states provided information on business strategies and opportunities in each state for Korean companies that are interested in looking to expand business into the U.S. All participated states opened up a booth for 1:1 consultation services for domestic companies that are interested in investing in the U.S.