By 2030, Lotte Chemical would invest a total of ten trillion won in hydrogen and battery materials, which are critical industries for carbon neutrality and future growth.

The corporation intends to do this by increasing its total revenues to 50 trillion won, including 12 trillion won in environmentally friendly enterprises.

On the 31st, Lotte Chemical hosted “the 2022 Chief Executive Officer (CEO) IR Day” at the Conrad Hotel in Yeouido, Seoul for 20 key domestic investment institutions and outlined intentions to actualize new enterprises.

Lotte Chemical has committed to investing more than 11 trillion won by 2030, with three new growth sectors identified as hydrogen, battery material, cycle (recycling), and bioplastic.

Six trillion won will be spent on hydrogen energy, four trillion won on battery materials, and one trillion won on recycling and bioplastics.

Lotte Chemical intends to increase its total sales to 50 trillion won ($50 billion) by 2030 by increasing sales by 12 trillion won in the new growth area. The company intends to increase its sales in the following eight years (about 18 trillion won).