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[Apha Biz=(Chicago) Reporter Paul Lee] LG Chem is planning to expand its business by expanding its Cheongju plant, an RO Membrane production base.
The LG Chem announced on July 28 that it will invest 124.6 billion won by July 2025 to expand its plant with an annual RO Membrane of 400,000 units in the Cheongju plant site.
The 400,000 RO Membranes, which are planned to be expanded, can dehydrate 1.57 billion tons of water (4.32 million tons a day) annually. This is the amount of water available to about 16 million people, one-third of South Korea's population.
Based on this expansion, LG Chem aims to double its RO membrane business, which is currently worth 200 billion won, in the next five years. According to global water treatment research firm GWI, the water treatment filter market is expected to grow from 5.3 trillion won in 2019 to 6.4 trillion won in 2024.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
