According to Yonhap News,

(SEOUL=Yonhap News) LG Chem Ltd., South Korea's top chemical firm, said Thursday that it plans to spend 230 billion won (US$201 million) for the expansion and upgrade of a plant in the southern part of the country.

In a statement, LG Chem said it will expand the plant in Naju, about 350 kilometers south of Seoul, and build a R&D center there as well.

After the expansion, the plant's annual output of eco-friendly plasticizer will double to 300,000 tons, according to LG Chem.

LG Chem said revenues at the Naju plant will rise to 1 trillion won by 2022 from the current 620 billion won through a facility upgrade.


This photo, provided by LG Chem., shows its plant in Naju, South Korea. (Yonhap)

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