Lotte head meets Trump, commits another $840m in Louisiana

New plans add to the $3.1bn the South Korean group has already invested

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U.S. President Donald Trump welcomes the Lotte Group contingent to the White House. (Courtesy of Lotte)

KIM JAEWON, Nikkei staff writer

SEOUL -- The chairman of South Korean conglomerate Lotte Group met with U.S. President Donald Trump at the White House on Monday, promising to pour more than 1 trillion won ($842 million) into Louisiana, on top of $3.1 billion it had already injected in a chemical project there.

Trump welcomed Shin Dong-bin to the White House after Lotte Chemical established an ethane cracking center in Lake Charles, Louisiana, last week. The site will produce 1 million tons of ethylene and 700,000 tons of ethylene glycol per year.

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