LG dedicates efforts to energy savings push

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LG dedicates efforts to energy savings push

LG Chem, the nation’s top chemical company, wants to improve its production efficiency by saving on energy costs in a dedicated way.

LG Chem CEO Park Jin-soo said last Friday that the company needs to focus on how to set up an efficient energy management system.

He urged employees to change their mindsets, not to merely think of reducing energy usage but also to discover new energy saving technologies and business opportunities.

“Energy costs eat up the largest amount of expenses after raw material costs, and the situation is getting more difficult following the rise of electricity rates and power supply shortages,” Park said during a company meeting at LG Twin Tower in Seoul.

“We should concentrate on green energy businesses like energy storage systems and electric automobile battery development, so that LG Chem can be recognized as being on the frontier of the energy saving sector,” Park said.

The affiliate of LG Group said it is not only changing operating methods and upgrading facilities but also adopting new energy technologies in its workplace.

For instance, the company has adopted “spinning column technology” in the polyvinyl chloride (PVC) manufacturing process, which uses centrifugal force to increase the level of heat transfers and lower energy usage.

The technology is currently used in LG Chem’s PVC production line in Yeosu, South Jeolla, but the company said it will apply it to other production lines next year.

It also plans to implement other energy saving technologies, such as setting up heat energy transfer networks to major production lines.

The company said it has saved 82 billion won ($77 million) this year on energy in the petrochemical business area.

In addition to adopting new technology, LG Chem said that it will reinforce the role of an energy committee that was formed in 2006.

The committee is led by the company’s CEO and encourages top executives to share energy saving examples and discuss strategies to save energy.

BY JOO KYUNG-DON [kjoo@joongang.co.kr]
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