Lotte Chemical Establishes Battery Material Business Corporation in the U.S.

[Asia Economy Reporter Kwon Jaehee] Lotte Chemical announced on the 29th that it will establish a local corporation to promote its battery materials business in the United States.

The investment amount is 1,283 million KRW, which corresponds to 0.01% of the company's equity capital. The name of the new U.S. corporation is 'LOTTE Battery Materials USA Corporation.'

The company stated, "Specific information such as the representative and the expected acquisition date will be re-announced after the establishment of the corporation."