Dow Chemical to Invest 160 Mil. Dollars in Korea

Dow Chemical Company will invest 160 million dollars in Korea to establish a 50-50 joint venture with LG Chemical Co. The joint venture is called 'LG Dow Polycarbonate Ltd.' and will produce polycarbonate, a material used to produce high quality plastic.
According to LG, on October 14, this joint venture will have a ground-breaking ceremony at Yeochon Industrial Complex in Chonnam Province in the first half of next year and start full-fledged operations with an annual production capacity of 130,000 tons in 2001.
Polycarbonate is used to produce compact disks, cellular phones, notebook computers, and various kinds of construction materials. Currently around half of the domestic demand is imported.
LG said that this investment will reduce the need for polycarbonate imports by 120 million dollars and generate 200 million dollars in exports.