"NCC Sale Still Under Consideration"
Shin Hak-cheol, Vice Chairman of LG Chem, has spoken out for the first time regarding the recent management dispute at Korea Zinc.
On the 31st, before the 16th Chemical Industry Day event held at the Plaza Hotel in Seoul, Vice Chairman Shin told reporters, "(The Korea Zinc situation) is something I hope will be resolved well for the continuous development of the industrial ecosystem."
Shin Hak-cheol, Vice Chairman of LG Chem and Chairman of the Korea Petrochemical Industry Association, is answering questions from the press before the 16th Chemical Industry Day event on the 31st. [Photo by Lee Sung-min]
Regarding the sale of the naphtha cracking center (NCC), he said that no clear decision has been made yet. He stated, "(The NCC) is not so much about a sale as it is about continuing to consider strategic options together," adding, "It is not yet the stage to discuss any special ideas such as share sales."
On the recovery of profitability in the anode materials business, he said, "Currently, we are making some profit, so it will improve further as the volume increases."
About the aerogel factory being built in the Seokmun Industrial Complex in Dangjin, Chungnam, which began construction in March last year, he said, "It is a very important factory, so it is scheduled to start operations by the end of this year, or at the latest, early next year."
Regarding the expansion of the RO membrane (reverse osmosis membrane) production at the Cheongju plant, he said, "The investment approval has been granted, and the expansion is expected to be completed within a year."
When asked about his term, he was reserved, saying, "I have no special thoughts and am working hard on the tasks given." Vice Chairman Shin, who has been CEO of LG Chem since 2019, will see his term expire in March next year.
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