LG Chem Breaks Ground on Dangjin Plant to Boost Plastic Recycling and Future Materials Development
On the 30th, LG Chem held a groundbreaking ceremony for Korea's first supercritical pyrolysis plant and a next-generation insulation material aerogel plant in Seokmun National Industrial Complex, Dangjin-si, Chungnam, to establish a plastic circular economy.
The event was attended by Joo Young-joon, Director General of the Ministry of Trade, Industry and Energy; Oh Seong-hwan, Mayor of Dangjin; Shin Hak-cheol, Vice Chairman and CEO of LG Chem; Noh Guk-rae, Head of the Petrochemical Division; Steve Mahone, CEO of Murata, in charge of technical support; and Hong Hyun-sung, CEO of Hyundai Engineering.
LG Chem plans to invest a total of 310 billion KRW by 2024 to build a supercritical pyrolysis plant and a next-generation insulation material aerogel plant on approximately 240,000㎡ (about 72,000 pyeong, equivalent to 32 soccer fields) of land within the Seokmun National Industrial Complex, fostering eco-friendly future businesses.
Supercritical pyrolysis is characterized by decomposing plastics using a special heat source in the form of steam that exceeds the critical temperature and pressure of water, resulting in minimal carbon residue (soot) and enabling operation without maintenance. The use of pyrolysis oil is expected to grow at an average annual rate of over 19%, reaching 3.3 million tons by 2030.
Aerogel, produced using LG Chem's proprietary technology, consists of more than 95% gas, making it lightweight, water-resistant, and non-flammable.
In particular, when used as insulation for pipes and equipment in industrial sites, it can minimize heat loss. Due to demand for eco-friendly energy (liquefied hydrogen) transportation, storage, and thermal insulation, the aerogel market is expected to grow at an average annual rate of over 30%.
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Shin Hak-cheol, Vice Chairman and CEO of LG Chem, stated, "The Dangjin plant will become a global hub for eco-friendly materials," adding, "As a leading company in the petrochemical industry, LG Chem will play a pioneering role in achieving sustainable development and carbon neutrality goals."
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