Korea Joongang Daily
Korea JoongAng Daily

Lotte Chemical, HD Hyundai Chemical submit Korea's first voluntary restructuring plan for gov't approval

Korea’s first voluntary restructuring plan in the oversupplied petrochemical sector is awaiting approval from the Trade Ministry, with Lotte Chemical and HD Hyundai Chemical moving to reduce naphtha cracker capacity (NCC) at their Daesan complexes.

2025-11-26

Lotte Chemical sells entire Pakistan unit amid restructuring

Lotte Chemical said Thursday it has sold its entire stake in a Pakistani subsidiary for 98 billion won ($67 million) as part of its ongoing business reorganization.

2025-11-13

Lotte Chemical opens massive petrochemical facility in Indonesia

Lotte Chemical has begun operations at a massive new petrochemical complex in Cilegon, West Java, Indonesia. The plant is officially named LINE, short for Lotte Chemical Indonesia New Ethylene.

2025-11-07

Lotte Chemical sells Indonesian stake for $448 million

Lotte Chemical sold its Indonesian subsidiary stake for $448 million to enhance financial stability.

2025-03-06

Lotte Chemical sells Pakistani affiliate for $68 million

Lotte Chemical sold its affiliate in Pakistan for $68 million.

2025-02-19

Lotte Chemical to sell Pakistani subsidiary amid persistent liquidity crisis rumors

Lotte Chemical is finalizing the sale of its Pakistani unit amid rumors of a groupwide liquidity crisis.

2025-02-17

Lotte shuttering duty-free stores, event spaces as sales decline

Lotte is closing underperforming duty-free stores and event spaces to address financial issues. The company plans to restructure its operations and reduce costs across various subsidiaries as it navigates declining sales.

2024-11-29

Lotte Chemical assures investors it can pay back its debts

Lotte Group, rumored to be facing a liquidity crisis, assured investors Thursday that subsidiary Lotte Chemical has enough cash to pay back its debts despite having breached the terms of a loan agreement.

2024-11-21

Downward trend in petrochemicals set to continue

Petrochemicals, previously one of Korea’s three largest export items alongside semiconductors and petroleum products, are stranded between lagging demand and a supply glut.

2023-07-06

Lotte Chemical net profit jumps 94% in first quarter

Lotte Chemical's net profit jumped 94 percent in the first quarter on stabilized raw material prices.

2023-05-11