# Lotte Chemical to invest 602 bln won in advanced materials business

Lotte Chemical announced a 602 billion won investment to boost its advanced materials business, including building a new factory for EV battery materials in Seosan, South Korea, and expanding EOA production capacity.

- Type: Investment
- Announced: 2022-02-07
- Where: Seosan, South Korea, South Korea
- Value: $502.0M (602.0B KRW)
- Status: announced
- Capacity: EOA production capacity to increase to 480,000 tons per year from 330,000 tons
- Products: high-purity ethylene carbonate (EC), dimethyl carbonate (DMC), ethylene oxide adduct (EOA), high-purity ethylene oxide (HPEO)
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Lotte Chemical](https://endata.com/companies/2025.md)

## Sources

- [en.yna.co.kr](https://en.yna.co.kr/view/AEN20220207001100320), 2022-02-07: "Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate Lotte Group, said Monday it is spending 602 billion won (US$502 million) to boost its advanced materials business, including building a new factory for electric vehicle battery materials."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.