Lotte Chemical Discovers and Supports Promising Startups like 'Chemico' and 'Bluebank'
[Asia Economy Reporter Park Soyeon] Lotte Chemical is actively supporting startups and venture companies with promising domestic technologies.
On the 27th, Lotte Chemical announced the selection of companies to be supported through the 'Lotte Chemical Innovation Fund No.1,' a 5 billion KRW fund established in collaboration with Lotte Accelerator, Lotte Group's startup investment specialist.
The supported companies are 'Kemico,' which possesses technology for producing high-expansion polypropylene (PP) foam sheets, and 'Bluebank,' which has mass production technology for functional microorganisms used in water treatment.
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In addition to the two selected companies, Lotte Chemical stated that it is reviewing more than 10 other candidate companies for support. The fund size is planned to be expanded to approximately 20 to 30 billion KRW. The company also plans to actively discover promising companies not only in Korea but also in the United States, Europe, and other regions.
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