SEOUL, April 12 (Korea Bizwire) — The Seoul Metropolitan Government has partnered with a group of domestic petrochemical companies to conduct a pilot project that recycles plastic waste using thermal pyrolysis technology. The city government on Tuesday signed a business agreement with GS Caltex Corp., HD Hyundai Oilbank Co., LG Chem Ltd. and SK Geocentric [...]
SEOUL, Jan. 16 (Korea Bizwire) — With the recovery of demand remaining sluggish due to the current economic slump, South Korean petrochemical companies are moving heaven and earth to survive through a reduction in output while lowering its factory utilization rate even further. According to industry sources, the naphtha cracking center (NCC) utilization rate of [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korean petrochemical companies have diversified their naphtha import channels this year amid international sanctions on Russia following its invasion of Ukraine. According to the Korea Petrochemical Industry Association, the nation’s naphtha imports from Moscow stood at 1.92 million tons in the first ten months of this year, down [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea’s major petrochemical companies are shutting down their naphtha cracking centers (NCC) for regular maintenance amid a prolonged industrial recession resulting from the global economic slump. LG Chem Ltd. launched regular maintenance of its NCC at Yeosu in South Jeolla Province late last month. In general, regular maintenance [...]