Lotte Chemical and Korea Research Institute of Chemical Technology Sign Eco-Friendly Technology MOU... Launch of LINK Project

Kim Gyo-hyun, Vice Chairman and CEO of Lotte Chemical (right), and Lee Mi-hye, President of the Korea Research Institute of Chemical Technology (left), are taking a commemorative photo at the signing ceremony held on the 19th at Lotte Signiel Seoul in Songpa-gu, Seoul. Photo by Lotte Chemical

[Asia Economy Reporter Donghoon Jeong] Lotte Chemical announced on the 21st that it held a joint research and technology transfer agreement ceremony with the Korea Research Institute of Chemical Technology (KRICT) on technologies in the fields of carbon neutrality, resource circulation, and hydrogen energy.

The agreement ceremony took place on the 19th at Signiel Seoul in Songpa-gu, Seoul. It was organized as part of the 'LINK' (LOTTE Innovation Network) project aimed at achieving the '2030 Vision - Carbon Reduction Growth.'

This project aims to proactively secure future technologies through open innovation research activities with universities, research institutions, companies, and experts, and to expand technologies through inter-industry cooperation.

Through this agreement, specialized personnel will be deployed to research and develop for three years on research tasks such as 'joint research on new processes in the carbon neutrality field and waste plastic resource technology' and 'transfer of catalyst and process core technologies related to hydrogen energy.'

Kim Kyohyun, Vice Chairman and CEO of Lotte Chemical, emphasized, "Innovative technology development through open innovation with various stakeholders is essential for carbon reduction growth."

One of the research projects, 'Ammonia-based hydrogen production catalyst technology,' is in the early stages of research and development worldwide. It is evaluated as one of the essential technologies for securing competitive eco-friendly energy sources and establishing an ammonia-based green hydrogen ecosystem.

Lotte Chemical and KRICT share the understanding that technology development using ammonia for the safe and efficient transportation of hydrogen, which is gaining attention as a future energy source, and the ability to decompose it are necessary. Based on this, they plan to conduct research cooperation on developing eco-friendly catalysts and reactors that do not produce carbon dioxide (CO2) during ammonia decomposition.

Earlier this year in January, Lotte Chemical established a Carbon Neutrality Research Center with the Korea Advanced Institute of Science and Technology (KAIST) to conduct five research and development projects aimed at realizing a carbon-neutral society and solving the waste plastic problem. Additionally, together with the lithium metal anode and solid electrolyte development startup SOELECT, they are also developing solid electrolyte and coating separator technologies.

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