Korea's, LG Chem announced on April 27 its plan to invest about 65 billion Won by the first quarter of next year to expand carbon nanotube (CNT) production by 12000 tons at its plant in Yeosu. The company’s move is aimed at targeting the global Electronic Vehicles and CNT markets. After the expansion, LG Chem will have a total CNT production capacity of 1,700 tons. CNT is an advanced material matching its electric and heat conductivity with copper and diamonds and possessing intensity that is 100 times that of steel. Its remarkable properties make it highly useful in lithium-ion batteries, semiconductors, automobile parts and aircrafts.