LG Chem will collaborate with the city of Wuxi in China to build a tech center there , the company said Wednesday.
Around 30 billion won will be spent on the center that will provide technological support to local customers and used for development.
Construction will start in the first half of this year. It will be completed in May 2022.
The tech center will be three stories high and take up an area of 10,000 meter-square. It will have pilot lines equal in size to commercial lines run by customers. LG Chem will spend 9 billion won for the high-tech equipment to be placed.
The center will also hire local talents. Over half of the staff with have Master’s degree or higher. Around 60 researchers will be housed at the center working on applied technology, PO, ABS, SAP and HPM.
LG Chem built its first tech center in South Korea at Daejeon back in 1995. It also has tech centers in Osan in South Korea (built in 2019) and another at Guangzhou (built in 2015).
Multiple customers are nearby that works on automobile and food materials near the soon-to-be-built center at Wuxi. East China, or Huadong, accounts for over 60% of LG Chem’s sales from China in petrochemicals. The center will provide a strategic avenue for collaboration with its customers there, it said.