LG Chem will establish an East China Technology Center in Wuxi

LG Chem stated that it had recently signed a memorandum of understanding (MOU) on strategic investment for the establishment of a technical center with Wuxi City, Jiangsu Province to strengthen technical support services.

According to the memorandum, LG Chem invested about 30 billion won (approximately 170 million yuan) to set up an ‘East China Technology Center’ in Wuxi High-tech Zone that is responsible for providing technical support and development business to local customers.

Wuxi City will provide active support for the construction and operation of land and infrastructure. According to data, LG Chem’s revenue in 2020 exceeded 30 trillion won for the first time, reaching 30.0575 trillion won, an increase of 9.9% over 2019.

Operating profit reached 2353.2 billion won, a rise of 185.1%. LG Chem’s revenue target for 2021 is 3.73 billion won.

(Via)