LOTTE Chemical and Samsung Engineering Build Green Partnership for ‘Carbon Neutralization · Eco-friendly Businesses.’
 

█ LOTTE Chemical, the leading chemical company of Korea, and Samsung Engineering, a global plant,
   partner to execute the carbon neutralization strategies… Aiming at strategic use of expertise and
   experience to achieve the objectives of carbon neutralization and eco-friendly businesses.
█ △ LOTTE Chemical’s plans to realize carbon neutralization (Net Zero). △ Joint investment in
   and development of eco-friendly technology △ MOU for cooperation for eco-friendly businesses.
█ The partners jointly engage in ‘efficient use of energy at LOTTE Chemical’s properties in Korea
   and abroad,’ ‘greenhouse gas and environmental pollutant reduction,’ ‘development of carbon capture
   and utilization technology,’ and ‘green hydrogen business and technology licensing.'
█ “Will make efforts to construct a specific and realizable Carbon Net-Zero roadmap to improve the future
   corporate value for positive social values,” said President Kyo Hyun Kim of LOTTE Chemical.
█ “Will lead the global ESG business based on investment in and development of green technology,”
   said President Sung An Choi of Samsung Engineering.

 

 

 

LOTTE Chemical and Samsung Engineering will hold hands for the green business.

LOTTE Chemical and Samsung Engineering announced that a Memorandum of Understanding was signed on the 5th for ‘Carbon Neutralization and Eco-friendly Business Partnership.’ The top management of both companies, including President Kyo Hyun Kim of LOTTE Chemical and President Sung An Choi of Samsung Engineering, attended the ceremony at Jamsil Signiel Hotel, Seoul.

The partners entered the MOU for △ realization of LOTTE Chemical’s carbon neutralization (Net Zero), △ joint investment in and development of eco-friendly technology, and △ partnership for eco-friendly businesses.

The MOU was promoted to achieve carbon neutralization and eco-friendly objectives by using the companies’ expertise and experience strategically. Specifically, they will cooperate for the efficient use of energy at LOTTE Chemical’s properties in Korea and abroad, greenhouse gas and environmental pollutant reduction, development of carbon capture and utilization technology, and green hydrogen business and technology licensing.

LOTTE Chemical announced 『Green Promise 2030』, the ESG management strategies and eco-friendly objectives, last February and embodied the eco-friendly business directions and objectives. It has been declared to promote growth with no increase in carbon exhaust by 2030 and achieve carbon neutralization (Net Zero) by 2050. ESG Management Headquarters was newly organized at the end of last year to promote cooperation with the chemical divisions of other affiliates within LOTTE Group.

Samsung Engineering is also striving for eco-friendly business for the mission to be 『Beyond EPC, Green Solution Provider』. Using extensive experience and technical expertise in EPC, they are planning to expand business for consultation, source technology, basic engineering, EPC, investment, and operation in the field of eco-friendly business. For that purpose, they invested 30 billion KRW in investment cooperatives established by Samsung Venture Investment last March.

“The two companies with professional capacities and expertise will cooperate to boost the platform for green business,” said President Kyo Hyun Kim of LOTTE Chemical. “We will make efforts to construct a specific and realizable Carbon Net-Zero roadmap to improve the future corporate value for positive social values.”

“The two companies with the highest level of experience and knowhow will accompany each other for an eco-friendly society,” said President Sung An Choi of Samsung Engineering. "We will lead the global ESG business based on investment in and development of green technology."