Issue 13, 2022 - LG Chem's first hydrogen production plant in South Korea

LG Chem built the first hydrogen production plant in South Korea

On June 20, LG Chem said it plans to build a hydrogen production plant in Daesan, South Korea, which is expected to start construction in the first half of 2023, with the goal of completing and putting into operation in the second quarter of 2024, when it will produce 50,000 tons of hydrogen
per year.

LG Chem said that the new plant is expected to use technology that converts methane into hydrogen through a chemical reaction under high-temperature steam, and will be LG Chem's first plant
to produce pure hydrogen.

The new plant is an important part of
LG Chem's strategic plan.
The strategic plan is to increase the utilization rate of renewable energy sources such as hydrogen by 70% in the naphtha cracking (NCC) process by 2025 and actively use hydrogen
in the production of renewable bio-feedstocks such as hydrotreated vegetable oil.