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Lotte Chemical to invest $3.7bn in the hydrogen economy
Lotte Chemical to invest $3.7bn in the hydrogen economy

Lotte Chemical to invest $3.7bn in the hydrogen economy

Lotte Chemical is reportedly set to invest 4.4 trillion won ($3.7bn) in the hydrogen ecosystem to bolster not only Korean decarbonisation but also around the world.

This is according to Pulse News, with the news agency stating that Lotte will invest the finances to support its next growth engine in addition to battery materials by 2030.

The aim of this will see the company target earning 3 trillion won ($2.5bn) in sales and achieve a 10% operating margin as it looks to take a greater chunk of the hydrogen market.

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