（化学工業日報　2001/4/10）　

韓国ＬＧ化学　３分割新体制が始動　持ち株会社で機動性

韓国最大の総合化学企業、ＬＧ化学は、今月１日付で会社三分割を実施、新体制が始動した。持ち株会社となるＬＧケム・インベストメント（ＬＧＣＩ）を存続法人としたうえで、事業を２つに分けて独立企業体を発足したもので、新体制で事業運営の機動性などを高めて企業価値の向上を目指す。韓国の化学業界では、旧ハンファ総合化学が９９年７月に会社を２つに分割したが、持ち株会社方式の会社分割は初めて。
会社分割により、ＬＧＣＩを頂点に、石油化学、情報電子材料、産業資材の事業を引き継いだＬＧ化学と、化粧品や日用品などを手掛けるＬＧ生活健康の体制となった。旧ＬＧ化学の資本金はＬＧＣＩ １８％、ＬＧ化学 ６６％、ＬＧ生活健康 １６％の比率でそれぞれ割り当てられ、株式も同じ比率で分割される。韓国証券取引所での新しい株式の取引開始は今月２７日になる見通し。
ＬＧＣＩは持ち株会社としてグループの投資配分管理などのほかに、新規事業開発も担当。医薬品などのライフサイエンス事業はＬＧＣＩが引き継いだが、将来的には分離し、外資との提携や株式公開で独立させる計画。ＬＧＣＩはＬＧ化学とＬＧ生活健康の株式を６．５％ずつ保有した。
ＬＧ化学の２０００年１２月期業績は、売上高が前の期に比べ１９％増の５兆４千億ウオン、営業利益が同１０％増の約６千億ウオンと２ケタ台の増収増益を達成した。分割後のＬＧ化学は売り上げ全体の約８割を占める中核事業会社で、２００３年に売上高を６兆１千億ウオンに引き上げる目標を掲げている。
企業の機動的な組織再編などにつながる会社分割は、韓国では９８年の商法改正で可能になり、旧ハンファ総合化学が石化部門と樹脂化工部門での会社分割を実施した。持ち株会社については９９年に関連法が制定されたが、製造業で持ち株会社を設立したのはＬＧ化学が初めてという。

（化学工業日報　2001/7/10)　

韓国ＬＧ化学　ＡＢＳ100万、ＰＶＣ150万�d　2005年めど　
　中国生産拡大軸に戦略事業への集中加速

韓国ＬＧ化学は、事業構造の高度化に拍車をかける。石油化学部門では高付加価値製品へのシフトを強めると同時に最大輸出市場の中国で現地生産能力を拡大、2005年をめどにアクリロニトリル・ブタジェン・スチレン（ＡＢＳ）樹脂で年１００万�d、塩化ビニル樹脂（ＰＶＣ）同150万�d体制をめざす。さらに将来の戦略事業と位置付ける情報電子素材部門も技術力を基礎にした新製品投入、高機能性産業材の拡販を進め、現在の売り上げ比率４％を２００３年に12％台に伸長させる。こうした取り組みによって内需中心の事業構造から脱却し、２００５年には海外売り上げ比率を50％に拡大、先端技術とソリューション提供型のグローバル企業への飛躍を図る。

R&D投資　情報電子に年500億ウオン
ＬＧ化学は、今年４月１日付で旧LＧ化学が会社分割した３社の中の化学部門を担う企業。分割によって経営の独立性が高まり、戦略事業への集中を可能とした。２０００年売上高は４兆６千億ウオン、経常利益は２６００億ウオン。これを２００５年には売上高８兆ウオン、経常利益８千億ウオンに引き上げる。この目標を達成するため、２００３年までに設備投資３９００億ウオン、研究開発投資２２００億ウオンを計画している。
将来の成長産業である情報電子部門については、二次電池、ディスプレー材料、回路基板素材などで世界トップの競争力を確保する計画で、研究開発に年間５００億ウオン以上の投資を集中、２００３年までに設備関連を含め総額３４００億ウオンを投資する。
石化事業では、ＡＢＳ樹脂の年産能力を現在の５０�dから国内外合わせて１００万�d、ＰＶＣを同９０万�dから150万�dに引き上げる予定で、主に中国で設備投資する。また塩化ビニルモノマー（ＶＣＭ）についても中国でプラントを建設する計画で、日本や欧米の企業と提携して進めていく方針。
また、エンジニアリングプラスチックでは、米ダウ・ケミカルとの折半出資会社ＬＧダウ・ポリカーボネートでポリカーボネート（ＰＣ）樹脂の新プラントが完成、大幅な輸出余力を持つことになった。
持続的成長を続けている産業材部門は、高光沢塩ビ化粧シート、高輝度反射シート、人工大理石などの高機能製品を中心に事業展開する。石化分野、情報電子分野ともに、技術協力、共同マーケティングなど日本や欧米企業との戦略的アライアンスの可能性も模索していくとしている。

(化学工業日報 2002/2/21)  　

ＬＧ化学、今年度投資５１００億ウオン超に
　　中国の石化増強軸に PDP蛍光体、現地生産も　R&Dには約１２００億投入

　ＬG化学の盧岐鍋社長は本紙との単独会見で、中国を中心に海外投資のピッチを上げる一方で、情報電子素材をはじめとする高機能製品事業を拡大する考えを明らかにした。中国では２００５年までにアクリロニトリル・ブタジエン・スチレン(ABS)樹脂を年産５０万トン、塩化ビニル樹脂(PVC)を同６４万トンの生産体制にするほか、PDＰ(プラズマ・ディスプレー・パネル)用蛍光体の現地生産を検討する。 このうちPVCでは原料の塩化ビニルモノマー(VCM)の現地生産にも乗り出す。また戦略事業に位置付ける情報電子分野では二次電池が着実に成長するほか、偏光板でも利益の計上を見込んでいる。
　ＬG化学は石油化学事業を中国で拡大し、韓国では情報電子材料をはじめとする高付加価値製品事業を強化する計画を進めている。このため２００２年は５１３０億ウオンを投資する予定で、このうち研究開発には１２１７億ウオンを向ける。 同社では中国で石化事業を拡大する方針から、「PVCを２００３年までに年産３４万トンにし、２００５年には同６４万トンにする」(盧岐鍋社長)。またABSは「２００２年末までに年産能力を３０万トンにし、２００５年には同５０万トンに増強する」(同)計画だ。 韓国ではボトルネックの解消による増強にとどめるが、２００５年のABSの年産能力は最大で１００万トンに達する模様。石化事業のうちPVCについてはVCMの中国における現地生産とともに、「二塩化エチレン(EDC)の自給率を２００５年までに５０%にするため、オーストラリアにおける生産を検討」(同)している。 中国では石化事業の拡大だけでなく、「テレビのブラウン管やコンピューターのモニター向けPＤP用蛍光体の生産」(同)を検討していく。 また石化事業は高付加価値化製品の育成もテーマで、「透明ABSや難燃ABSなどの製品の市場を積極的に開拓」(同)していく考えだ 。石化事業の川下分野でもある産業材部門はこれまで順調に成長してきた。今後も「窓枠、高光沢PVCシート、人工大理石などの高付加価値製品を中心に拡大していく。同部門のなかで人工大理石に関しては、「スイスにすべての欧州諸国をカバーする販売会社を設立」(同)した。米国でも「メインの販売業者との合弁で３−４カ月後に販社を設立する子.定」(同）だ。 LG化学が育成を急ぐ情報電子材料事業は「昨年は赤字で問題がまだある」（同）としているか,今年は着実に業績が改善する見通しだ。「ＬG電子への納入が続くリチウムイオンバッテリーは、エリクソンからの注文を受け」(同)ており、成長が期待できる。TPT(薄膜トランジスタ)型液晶ディスプレー用偏光板は「生産設備の収率が上昇し、今年は利益が出せる」（同)と見込んでいる。

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（化学工業日報　2001/7/27）

新世紀を生きる　LG化学　盧　岐鎬社長
　韓国化学のリーダー　世界への飛躍期す

　成長分野に投資集中
★会社分割後のＬＧ化学はどのような企業を目指していくのか。

旧LG化学は、石油化学品事業を中心に韓国の代表的な化学企業に成長したが、近年、石化分野は欧米のオイルメジャー、巨大資本が圧倒的な力を発揮しつつあり、コモディティ部門ではコスト競争で対抗できない。分割後のＬＧ化学は、石化がコアであることに変わりはないが、ＡＢＳやＰＶＣなど得意分野への投資に集中する。対象地域も市場のある中国になる。勝負がついた競争力のない川上部門への投資はしない。今後は電子情報材料分野などのファイン・スペシャリティ事業を育成強化して、事業の構造改革を進める。大きな転換期を迎えたといえる。

★ところで、韓国石化業界の望ましい構造調整のあり方は。

韓国も再編統合が避けられないだろう。エチレンを例にとれば、米ダウ・ケミカル１社のエチレン年産能力は800万トンを上回るが、国内エチレンメーカー７社をすべて合わせても500万トンの水準に過ぎない。また、麗川、蔚山、大山の３工業団地に２−３社ずつ分かれていて、シナジー効果を発揮しにくい。設備投資の効率化やコストダウンを進めるには事業統合や共同運営を進める必要がある。
合成樹脂の場合はメーカー間の事業交換などを通じた事業競争力向上の方法が効率的だ。エチレン部門は工業団地別に、合成樹脂部門は品目別に統合することが望ましいと思う。

★構造改革のためのアライアンスも活発ですね。

単に技術だけを導入する形態の提携は意味がない。同等の立場で相互補完的な関係構築を通じ、シナジー効果を倍加させることができる提携が推進されなければならない。独メルクとの戦略的提携は良い例だ。両社の革新技術で輝度向上フィルムを共同開発している。また、当社はメルクの販売網を通じて海外市場でも製品を販売できる。

★経営目標とその達成のための戦略は。

2005年に売上高8兆ウォン、経常利益８千億ウォンを目標に中長期戦略を打ち立てた。石化部門は、コストダウンと差別化製品の育成で高付加価値化をめざすと同時に中国での現地生産能力を高める。ＡＢＳとＰＶＣは国内外で主導的地位を強化する。
産業材部門では、高光沢塩ビ化粧シート、高輝度反射シート、人造大理石など高機能性製品を中心にトータルインテリアソリューションを提供する。情報電子素材事業は二次電池、ディスプレー素材、回路基板素材などで世界１，２位の競争力を確保する計画で、現在の4％台の売り上げ比率を2003年までに12％台にする。そのため、2003年までに研究開発と設備投資を含めて総額3,400億ウォンを投資する。
他方、たとえ今は黒字事業でも将来の成長性が低いか、戦略事業でない場合は果敢に構造改革を実施していく。

（化学工業日報　2002/3/18)　　　　　　　　　　　　　→最新情報→３０万トンへの増強
ＬＧ化学、中国でＡＢＳ樹脂増強前倒し

　韓国のＬＧ化学は、中国の寧波に立地するＡＢＳ樹脂子会社ＬＧ甬興化学の能力増強を繰り上げる。１９９７年に現地の甬興化学との合弁（ＬＧ化学が７５％出資）で設立した同社は、すでに年産１５万トンの能力を持ち、年末までに同２２万５０００トンへの増強を目指して既存工場の敷地内で工事を進めてきたが、これを年央には完成させ、９−１０月には増設した反応器などの設備を立ち上げる。また同時に進めていた年３０万トンへの増強工事も、当初計画の２００４年末完成を今年内に完成させるめどを得た。さらに２００６年完成予定であった同５０万トンへの増設は、２００３年内に着工して２００４年には完成させ、当初計画より２年早める。立地は寧波か広東か最終決定はしていないが、既存のパイプラインや原料タンクの利用が可能な寧波の可能性が高い。１５万トンから３０万トンへの増強に必要な投資額は１億ドルと試算されている。

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Platss　2002/12/17

Korea's LG Chem hikes ABS capacity to 800 kt/yr

South Korea's LG Chemical has announced Tuesday that it has increased its total ABS production capacity to 800,000 mt/yr after expansions at its plants in Korea and China. LG's revamped capacity makes it the world's third largest ABS producer.
In a press release, LG said that its affiliate in Ningbo, China, LG Yongxing Chemical, now has the capacity to produce 300,000 mt/yr of ABS, double its original nameplate capacity of 150,000 mt/yr. "This extra capacity will also include high-end specialty grades of ABS which had been exclusively manufactured in our facility in Korea," No Ki Ho, CEO and president of LG Chem said. LG advanced its start-up date, which was originally scheduled for mid-2003, due to rapid growth in demand and the need to boost competitiveness through greater economies of scale.

豪州ＥＤＣ計画　　　　http://www.conway.com/ssinsider/bbdeal/bd011203.htm

LG Chem Will Open $500 Million EDC Plant in Queensland 　　　　　　　　　　　　　ＬＧ具体案　　→　中止
　　　　
SEOUL -- LG Chem, Korea's leading chemical company, has announced that it will locate a US$500 million chemical plant in Gladstone, Australia.
The northern Queensland location won out over competing sites in China, Saudi Arabia, the United Arab Emirates and the United States, according to officials from Seoul-based LG Chem. The Gladstone plant will produce ethylene di-chloride (EDC), the major raw material for PVC. Queensland Premier Peter Beattie and LG Chem Senior Executive Vice President C.H. Yoo announced the project in Seoul. Beattie was in the South Korean capital as part of a trade mission to China, Korea and Japan.
LG Chem's plant is one of several major recent Korean investments in Queensland, Beattie noted. "This will be another major investment in Queensland by a Korean company, following the official opening in May last year of Korea Zinc's Sun Metals Refinery in Townsville and LG International's shareholding in the Ensham coal mine," Beattie said. "It will help demonstrate to all Korean companies that Queensland is a great place to establish a project because of our low taxes, competitive power prices and skilled, multicultural work force."

The Gladstone Region, which includes part of Queensland's northeast coast, generates　34.6 percent of the state's total export volume and 8.6 percent of Australia's export volume.
Queensland won the project, said Premier Peter Beattie when LG Chem executives, along with the commissioner from Queensland's Korea office, visited the state for a week in August.

(LG is to have a 55% share in the $200-mil EDC and caustic soda joint venture plant at Gladstone, and Cheetham Salt Ltd a 35% stake. The firms are seeking a third party to take up the remaining 15% share in the project. )

Potential 'Synergies' with Nearby Operations

LG Chem officials have not yet estimated total employment at the Gladstone plant, as construction won't begin until November of 2002. LG Chem is projecting a mid-2005 completion date. The plant will be capable of producing 300,000 tons (270,000 metric tons) of EDC a year, company officials explained.
The Gladstone site positions LG Chem to realize a bottom-line bonus from a byproduct. A prodigious amount of caustic soda is one of EDC plants' major byproducts. And LG Chem's EDC plant in Gladstone will be located near two of the world's largest consumers of caustic soda: Queensland Alumina Refinery and the recently announced Comalco Alumina Refinery. "The establishment of an EDC plant at Gladstone has potential synergies with existing and proposed projects in the region," Beattie noted.
Korea's largest manufacturer of PVC, LG Chem plans to export the EDC made in Gladstone for use in its homeland.
That will add to the already sizeable export flow from Queensland to Korea. During 2000, state exports to Korea totaled more than $1.9 billion, an increase of 26.7 percent from 1999, according to Queensland officials.
The heavy volume heading to Korea is part of Queensland's larger reliance on exporting. One in five jobs in the state is export-related, according to government officials. The Gladstone Region, which has a population of some 47,000 residents, is a major contributor to the state's potent export punch. The region taking in part of Queensland's northeast coast reportedly generates 34.6 percent of the state's total export volume and 8.6 percent of Australia's export volume.
The Gladstone Region got another recent dose of Korean investment, when LG International, a sister company of LG Chem, decided to invest in the previously announced $3 billion Aldoga Aluminium Smelter. The Aldoga project will employ 500 workers at a site near Gladstone.

LG Chem Also Expands In China, As Does Beattie

LG Chem last month also announced a $10 million expansion of annual PVC production capacity at its PVC manufacturing operation in Tianjin, China. With the expansion, Tianjin LG Dagu Chemical's annual capacity will rise to 240,000 tons (216,000 metric tons) from the current 150,000 tons (135,000 metric tons).
Chinese demand for PVC outstrips supply by 1.7 million tons a year (1.53 metric tons), according to officials from Dagu Chemical, LG Chem's joint-venture partner.
"We anticipate the Chinese PVC market to grow at an annual rate of 8 percent until 2005," said LG Chem Vice President Chul Ho Yoo. "Contrary to the global economic slowdown, China's economy is still robust and government reforms in the industrial materials sector are contributing to growth in PVC demand."
As if an accidental doppelganger, Beattie, too, was in China the week of LG Chem's expansion announcement.
Continuing his trade mission. Beattie signed a memorandum of understanding designed to increase trade opportunities between Queensland and Shanghai. The pact is part of Beattie's goals over the next five years to increase Queensland exporters by 20 percent and increase the value of the state's knowledge-intensive exports by 50 percent.
The agreement includes:
・establishing joint research activities and knowledge-intensive projects to assist Queensland and Shanghai business firms "pursue new opportunities;"
・launching a Queensland-China Education Forum to be held in Shanghai in 2002;
・cooperating on biotech development;
・promoting direct air services between Shanghai and Queensland; and
・facilitating exchange visits by delegations of women "in senior positions in the areas of government, banking, business, health and sport."

Queensland's exports to China increased "more than 79 percent to almost $906 million," Beattie noted at a seminar organized by Commerce Queensland and the Shanghai Chamber of Commerce and Industry. "Now that China is part of the WTO, I expect that figure to rise still further. . . . Any increase in trade with a city of this size means more jobs for Queenslanders."

2002/8/14 Platts

Australian government backs LG Chem's EDC proposal

　The Australian federal government Wednesday granted "major project facilitation" status to South Korean LG Chem's proposed ethylene dichloride plant at Gladstone in Queensland. The $200-mil plant would produce up to 300,000 mt/yr of EDC for export to South Korea and China. "This project could provide significant economic benefits to Australia through employment generation, Australian industry participation in construction and supply for operations, and revenues of approximately $75-mil per year in exports," said Barry Jones, CEO of the government's Invest Australia agency. The major project facilitation status provides streamlined decision-making processes for the necessary government approvals. Invest Australia would also identify areas where government assistance for the project may be available.
　"Should the project go ahead, it is expected to create approximately 500 jobs during the construction phase and a further 100 permanent jobs during operations," Jones added. The plant would begin commercial production in late 2005. LG Chem, which is South Korea's largest producer of PVC, and the Queensland state government first announced plans for the EDC plant in November 2001. The proposed plant would be located close to the Queensland Alumina refinery and the planned Comalco Alumina refinery--potentially two of the world's largest consumers of caustic soda, a byproduct of EDC production.

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2002/12/24 Dow Jones　 　　　　　　　　　　　LG発表

S Korea LG Chem Invests KRW55.6B To Build Australia Plant

SEOUL (Dow Jones)--South Korea's LG Chem Ltd. said Monday it plans to build an ethylene dichloride plant in Australia by investing 55.6 billion won ($1=KRW1,203.50).

The new plant will be formed as a joint venture among LG Chem, Australia-based salt producer Cheetham Salt and an undisclosed third party. Total investment for the plant will amount to $193 million, LG Chem said in a statement.

The plant, which will be located in Gladstone City adjacent to Comalco alumina refinery and Queensland Alumina refinery, will be able to produce 300,000 metric tons of EDC a year. Construction will begin in the second quarter of 2003 and is expected to be completed in the second half of 2005.

"Currently, many polyvinyl choloride producers are burdened by (the rising) EDC price. This leads to narrowing margins and LG Chem can be no exception,"said LG Chem President and Chief Executive No Ki Ho in a statement.

LG Chem has been importing more than half of its EDC requirements and is hoping to reduce that by setting up the plant, the company said.

EDC is a base chemical used for producing vinyl choloride monomer, which goes into polyvinyl choloride to produce plastic products.

　

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2003/1/21 Financial Times

$193 M is to be invested by LG Chem in a new complex at Gladstone City in Australia that will have a capacity to produce 300,000 tonnes/y ethylene dichloride, 240,000 tonnes/y caustic soda and 218,000 tonnes/y chlorine. Completion is expected late in 2005. The complex will by 80% owned by LG, with Cheetham Salt and an unnamed third party owning the remaining 20%. Salt will be supplied to the chlor-alkali plant by Cheetham.

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2003-7-5 Asia Chemical Weekly　　　　　　　　　　　　Release

S Korea's LG Chem suspends Australian EDC project

South Korea's LG Chem has suspended work on its proposed 300 000 tonne/year ethylene dichloride (EDC) project in Gladstone, Queensland, Australia, due to growing labour, environmental and foreign exchange costs.

LG said that incremental labour, environmental and forex costs pushed up the investment required for the project beyond the estimated budget of $193m (Euro167m).

An LG Chem spokesman said a board of directors meeting had been called for next week to make a final decision on whether or not to abandon the project and seek alternative sites in Asia.

The company was to take an 80% stake in the Australian EDC project with the rest being shared by Australia's Cheetham and a yet-to-be-decided third partner.

The 2005 startup date of the EDC project had been planned to coincide with the commissioning of the company's China vinyl chloride monomer (VCM) project in 2005.

LG planned to use the EDC to feed a proposed 100 000 tonne/year VCM plant in China which would in turn supply polyvinyl chloride (PVC) facilities in the country. At present, VCM is imported into China from LG's South Korean plants.

The company had chosen to site its EDC project in Australia because it is one of the world’s cheapest provider of electricity and salt -- essential elements in the production of EDC.

Moreover, the plant is geographically adjacent to Comalco alumina refinery and Queensland Alumina refinery, two of the world’s largest consumers of caustic soda, a by-product of EDC. These benefits were thought to have easily offset freight costs to LG’s VCM plants in China.

---

2003/7/10 LG Chem

Suspension decided for the EDC project in Australia

LG Chem has decided to cease the EDC project in Australia, which has jointly been proceeded with Cheetham Salt Ltd

Outline of the Project
-	LG Chem had been preparing to build an EDC plant with an annual production capacity of 300,000 mt and a caustic soda plant with 240,000 mtin Gladstone, Eastern Australia by 2005.
-	The project has been put forward in Australia for its low-cost electricity, easy access to solar salt, and well-developed market for caustic soda.
Reason for the cancellation
-	However, LG Chem has come to a conclusion that in Australia there would be less business feasibilities due to the investment outlay burden and other factors.
-	The rapid appreciation of the Australian dollar against the US dollar during the past two years (more than 20%) has also undermined the competitiveness of the products produced in Australia and has increased the investment cost.
Future plan
-	To secure a stable EDC supply for the expansion in its PVC business, LG Chem plans to review other alternatives from a diverse angle.

2003-7-15 Asia Chemical Weekly

LG Chem may consider Fujian for EDC project 　　　Fujian＝福建省

LG Chem is likely to consider a site in China, possibly Fujian, if it decides to abandon its ethylene dichloride (EDC) project in Gladstone, Queensland, Australia, industry sources said.

The South Korean major last week announced its decision to put the 300 000 tonne/year project on hold due to growing labour, environmental and foreign-exchange costs.
These costs have exceeded the company's estimated budget of $193m (Euro167m).

LG had wanted to ship EDC from Australia to South Korea to replace its imports. It also wanted to ship the product to its Chinese partners' vinyl chloride monomer (VCM) plant in Tianjin, China.

The EDC could also be supplied to a VCM and polyvinyl chloride (PVC) project in Fujian, where equity talks have been held with Southeast Electro Chemical Co (SECC).

The sources said LG's hesitation in proceeding with the Australian EDC project means it is more likely to be built in Fujian, where ethylene feedstock can be obtained from ExxonMobil's 800 000 tonne/year cracker complex.

Tianjin is an unlikely location because of ethylene unavailability in the province.

SECC has been keen to build an integrated chlor-alkali and PVC complex in order to boost the complex's economics.

The sources said that, while Australia's edge lies in its low-cost raw materials and electricity, China's advantage is its closeness to the market.

One of them noted that, as China has increasingly protected its domestic industry by launching antidumping cases, one way of getting around the problem is by having a production base in China.

The biggest stumbling block for LG in Australia is likely to be securing a sufficient and reliable supply of ethylene.

LG said earlier that it would need to rely on imported ethylene because Qenos cannot meet its 100 000 tonne/year ethylene requirement.(Qenos=旧豪州 ICIのOricaとExxonMobilのKemcorのＪＶ)

Qenos, which operates two crackers of 250 000 tonne/year and 95 000 tonne/year, was expected to supply only 20 000 tonne/year of ethylene to LG.

The sources also said the freight costs incurred in shipping EDC to China and South Korea and its dependance on imported ethylene would make it difficult for LG to compete with integrated players such as Formosa Plastics Corp.

石油化学新報 2002/6/5

韓国・LG化学、持続的な成長に向け投資加速〜盧岐鏑社長が会見

一中国でABS・PVCを増産/長期経営ビジョンを近く策定一

■中国では窓枠工場も新設
　進行中の主な投資案件をみていくと、石油化学事業ではABS樹脂とPVCの中国への投資を推進する。
　ABS樹脂については中国・漸江省寧波で現地合弁会社の寧波LG南興化工(LG化学75%/寧波南興化工25%出資)を通じて今年10月までに年産7万5,000トン設備1系列、年末にも同1系列を相次ぎ増設し、生産能力を合計15万トン増の30万トンに引き上げ、2005〜2006年をめどに50万トン、韓国(麗川)と合わせて100万トン体制を構築する計画だ。中国ではABS樹脂の需要が急拡大するなか、新増設計画が打ち出されているが、LG化学は供給が不足すると判断し、「昨年表明した能力増強計画に20万トン上乗せする」(盧社長)。他社と比較しても「現地でべ一ス原料から一貫生産しているため競争力がある」(同)とみており、中国のABS樹脂市場での存在感をさらに増していく考えだ。
　PVCについては天津で現地合弁会社の天津LG大沽化工(LG化学グループ85%/天津大沽化工15%出資)の生産能力を現在の24万トンから来年7月をめどに34万トンヘ増強する計画で、今年4月プラント増設工事に着手した。これによりLG化学グループのPVC生産能力は、韓国(麗川、大山)と合わせて100万トン体制となる。また2005年までに中国の新立地で30万トンの新工場を建設し、その際には原料VCM(塩ビモノマー)も事業化する方針を表明している。基礎原料のEDC(二塩化エチレン)については、豪州で電解からの一貫生産による事業化を目指しており、クイーンズランド州で現地アルミメーカーとの合弁による計画が近くまとまる見通しだ。原料塩の現地調達に加え、電解設備で併産されるか性ソーダを現地でアルミナ精錬向けに消費できることが強みとなる。原料エチレンは輸入するという。
　さらに中国・天津ではPVC加工のシート事業を展開しているが、来年初頭をめどに年産2万トンの窓枠工場を新設する。これは同社の韓国における窓枠生産能力の2割に相当する規模で、今後もPVC加工事業の生産拡充を進めていく。

2002/7/15 LG Chem

LG Chem to establish EPC Plant in China

LG Chem Ltd, the largest chemical company in Korea, announced today that it plans to establish an EPC (Engineering Plastics Compound) plant by investing US$11,600,000 in China this year.

Engineering Plastics are chemical resins that are used as components for the automobile, electronics industry. Engineering Plastics Compounds are a chemical mixture of these products customized for each industry.

The 80,000 square meter facility, to be located at China's Guang'dong province (Hua'nan District), is expected to be on stream in March 2003. The plant will be able to produce 20,000 tons of EPC a year by 2003 and 50,000 tones by 2010.

The company, moreover, plans to establish a second EPC plant in China, which will produce an additional 50,000 tons annually by 2010. This will enable LG Chem to produce 100,000 tons yearly, equal to what the largest EPC plant in China, US GE Plastics, currently produces annually in China.

"The global market for EPC is dominantly shared by major plastic manufacturers such as GE Plastics, Dupont and Bayer, however by 2010 we will be ranked as the world's top 3 EPC producers," said Sung Dam Lim, the chief director of LG Chem's Performance Polymers Business Unit.

"The new facility will be able to meet the requirements from many sectors of the Chinese market considered to be the fastest growing in the world," said Lim. According to the Chinese EP Association, the Chinese Engineering Plastics Compounds market is expected to grow 15% (CAGR) from 2000 to 2005 and 10% from then to 2010.
The region's EPC market is currently worth US$1.3 billion. China has been the largest importer of engineering
plastics for three consecutive years.

LG Chem is operating China's largest ABS (Acrylonitrile Butadiene Styrene) and PVC (Polyvinyl Chloride) plant in Ningbo and Tianjin. The company is the fourth largest and the seventh largest producer in the world for each area.

OVERVIEW OF LG CHEM
LG Chem Ltd., considering both size and performance, is the leading chemical company in Korea. It is a vertically integrated chemical company that manufactures a wide range of products from petrochemical goods to high-value added plastics, floorings and automotive parts. It also expands its chemical expertise to high-tech materials for electronics and
information technology such as state-of-the-art rechargeable batteries and display materials.

LG Chem has been detached from LG Chemical Ltd. in April 1, 2001 to unlock long-term shareholder value and provide investors with investment opportunities in highly focused entities.

With annual sales of KRW 4.7 trillion and a local workforce of 8,000 employees, LG Chem plans to realize positive progress towards sustainable growth by consolidating its leadership in the domestic market and building leader businesses outside of Korea.

LG Chem's EPC Production Capacity

　* 50,000 (Guang'dong Plant) + 50,000 (2nd China plant)

EPC MARKET DEMAND


Source: China EP Association, China Statistical Yearbook, Nikkei Shimbum

Engineering Plastics Compound (EPC)

EPC MANUFACTURES IN CHINA

Singapore (Platts)--1Oct2002
Korea LG Petchem to invest $162-mil in BPA/phenol plant

　South Korea's LG Petrochemical plans to invest Won 200-bil ($162-mil) to build a plant that produces both bisphenol A and phenol in Yeosu, according to a company statement Tuesday. The plant will have a capacity to produce 120,000 mt/yr BPA and 150,000 mt/yr phenol. Construction is slated to begin late 2003 and the plant is expected to go on stream by early 2005. LGPC has signed a BPA and phenol technology license agreement with two US chemical firms, Kellogg Brown & Root, and Resolution Performance Products Inc on Sep 30. "This project will enable us to enter into highly prospective sectors of the industry, to which we already have secured stable feedstock," said CEO Bahn Suk Kim. Propylene and benzene feedstocks will be sourced from the company's naphtha cracking center, also in Yeosu.
　Citing strong growth in the BPA market, LGPC expects turnover from this plant to amount to Won 205-bil ($167-mil) by end 2005, Kim said. Bulk of the BPA produced would be consumed by LG Dow Polycarbonate, Korea's largest polycarbonate manufacturer. The company also plans to sell 50 kt/yr phenol and 60 mt/yr acetone, both feedstocks for BPA, either locally or for the export market. BPA is used to make polycarbonate plastic and other products. Polycarbonate is used in a variety of applications such as the fast growing optical media industry, electrical and electronic, construction, automotive and packaging applications. The global BPA market recorded strong growth during the last decade with growth rates at 10% per year and above, the statement added.

化学工業日報　2002/11/11

ＬＧ化学、中国の販売体制強化
　上海に現法、０５年売上高１．８億ドルヘ　北京など５ヵ所に事務所も

　韓国ＬＧ化学が中国における販売体制を強化する。このほど同社は上海に販売会社であるＬＧ化学貿易有限公司を設立した。同社は２００８年に開催される北京オリンピックの特需に乗り、ＬＧ化学の現地工場が生産するＡＢＳ、ＰＶＣといった樹脂、床や窓枠などの建築材料、韓国から輸出する主要化学製品を中国全土で販売し、２００５年に１．８億ドルの売り上げ達成を目指す。　
　ＬＧ化学貿易は従業員数７５名。来年は１千万ドルのマーケティング費用を投じて、積極的な中国市場開拓を進める。今年の売上高は４５百万ドル、来年は７５百万ドル、２００５年には１．８億ドルの売り上げ達成を目指す。
　また、２００５年までに主要製品で中国市場のマーケットシェア１位になることを目指す。同社は、上海、北京、広州など５都市に営業事務所を設置する。寧波のＡＢＳ工場や天津のＰＶＣ工場も、将来は同社に統合する計画。
　ＬＧ化学は北京オリンピックの開催に向け、住宅や自動車関連の大規模な需要が発生するとみており、ＡＢＳの年産能力を現在の３０万トンから２００５年までに５０万トンへ、ＰＶＣを同４５万トンから６４万トンに拡大する計画だ。
　建築材料では床材、キッチン用大理石、インテリア内装材などを中国の建築業者に直接納品する。中国の需要にあわせたデザイン設計も行う。また、自動車道路に使われるアスファルト原料と交通表示板向け塗料の普及も図る。
　ＬＧ化学グループの中国市場全体における売上高は現在８億ドルだが、２０１０年には４６億ドルに達すると予想している。

化学工業日報　2003年9月29日

韓ＬＧ、ポリアミド樹脂事業に参入

　ＬＧ化学はエンジニアリングプラスチック事業拡大の一環として、ポリアミド樹脂事業に参入する。独自技術をもとに製造する高付加価値製品を自動車産業や電器産業といった需要家にトータルソリューションとともに提供し、２００５年までにエンプラ事業で２０００億ウォン（約２００億円）超の売り上げを達成する。