Lotte Advanced Materials, a subsidiary of Lotte Chemical, has made the leap to one of the world's top five engineered stone (artificial marble) companies by completing an M&A deal worth 123.4 billion won (US$110.1 million).Lotte Chemical announced on July 17 that Lotte Advanced Materials will ac
As Lotte Group chairman Shin Dong-bin has returned to the forefront of management, Lotte Chemical's project to build a new petrochemical complex in Indonesia is expected to get into its stride.The group is now set to promote overseas projects in earnest as Lotte Corp. has become the largest shar
Lotte Chemical’s four-trillion won petrochemical project in Indonesia has been suspended due to the absence of group chairman Shin Dong-bin, who is now in prison for bribing ex-President Park Geun-hye.Hwang Gak-kyu, a Lotte Group vice chairman, said on Sept. 10, “Many projects, including the one in
Domestic oil refineries and chemical manufacturers are rushing to increase their ethylene production capacity. The move is based on a forecast that demand for ethylene will be strong in the years to come, but massive facility expansion is causing concerns about oversupply.According to industry watch
Hyundai Oilbank is close to completing an 800 billion won project to expand and upgrade its refining facilities.Hyundai Oilbank said on Aug. 12 that the company has completed a solvent de-asphalting (SDA) facility at a cost of 240 billion won. In February of last year, the company began to build the
Korean chemical companies are responding to the growing trade pressure from the US government with localization strategies.One example is Hanwha Q Cells Korea, which is planning to build a solar energy module plant in Whitfield County, Georgia. Hanwha is pushing to start construction of the plant th
Lotte Chemical's share price has been on the decline recently, as global oil prices started to rise again.According to the Korea Exchange on May 29, Lotte Chemical's share price has been steadily declining for about three months. Its price fell to 364,500 won on May 25, a 23.3% drop from the
Hyundai Oilbank has partnered with Lotte Chemical to build a petrochemical plant worth 2.7 trillion won (US$2.5 billion).Hyundai Oilbank announced on May 9 that it has signed a memorandum of agreement (MOA) with Lotte Chemical Corp. to set up a new heavy feed-based petrochemical complex (HPC) throug
Lotte Chemical Corp. has posted the highest operating profit in the chemical industry in the first quarter of the year.The company announced on May 2 that it registered 4.12 trillion won (US$3.82 billion) in sales and 662 billion won (US$614.1 million) in operating profits in the first quarter. Its