petrochemical sector Archives

Government Declares Economic Emergency in Yeosu, Pledges Support for Petrochemical Sector

SEJONG, May 1 (Korea Bizwire) — South Korea has designated the southwestern city of Yeosu as an “industrial crisis response area” to help the ailing regional economy amid a slump in the petrochemical industry based in the area, the finance minister said Thursday. Finance Minister Choi Sang-mok made the announcement in an economy-related ministers meeting, [...]

LG Chem to Overcome Stagnant Petrochemical with Two-track Strategy

SEOUL, Aug. 13 (Korea Bizwire) — Amid the sluggish petrochemical market due to low global economic growth and low demand from China, LG Chem plans to overcome the situation with a two-track strategy of reinforcing technology-based business and developing new materials. LG Chem, a leading electric vehicle battery maker, made the two-track business plan to [...]