Yeosu-si-GS Caltex-LG Chem Sign Investment Agreement for 3HP White Bio Factory

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[Yeosu=Asia Economy Honam Reporting Headquarters Reporter Choi Cheol-hoon] Jeonnam Yeosu City, GS Caltex, and LG Chem announced on the 28th that they signed a business agreement to attract investment for a 3HP (eco-friendly biochemical material) white bio factory.

The signing ceremony held at the GS Caltex Yeosu plant was attended by Jeong Gi-myeong, Mayor of Yeosu, Huh Se-hong, CEO of GS Caltex, Shin Hak-cheol, Vice Chairman of LG Chem, and about 20 related officials.

Through this investment agreement, the three organizations agreed to prioritize Yeosu City when establishing a domestic 3HP white bio factory.

Meanwhile, on the same day, GS Caltex and LG Chem held a groundbreaking ceremony for the ‘3HP Demonstration Plant’ to jointly develop eco-friendly raw material mass production technology.

The plant is scheduled to be completed in the first half of next year and will carry out 3HP demonstration and commercialization technology development to realize carbon neutrality and a circular economy.

The city expects that the construction of this demonstration plant will lead to investment in the Yeosu Industrial Complex when establishing a domestic 3HP white bio factory in the future.

Mayor Jeong Gi-myeong said, “We will actively support administrative measures to ensure that this investment agreement leads to tangible results,” adding, “We will continuously attract investment in eco-friendly new material industries to improve the structure of Yeosu National Industrial Complex and work together to create jobs and revitalize the local economy.”

Yeosu=Asia Economy Honam Reporting Headquarters Reporter Choi Cheol-hoon hss79@asiae.co.kr

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