S-Oil’s $7B Shaheen project nears completion, hopes to lift Korea’s chemical gloom

Aramco-backed S-Oil’s Shaheen project in Ulsan is roaring ahead, with some 11,000 workers swarming the vast site — a rare scene of momentum and purpose in a petrochemical landscape otherwise marked by stillness and doubt.

2025-10-22

Credit risk grows for petrochemical makers with Chinese walkaway

Korea's petrochemical manufacturers face growing credit risks as China pulls back and persistently high capital expenditures plague the industry.

2024-05-09

LG Chem profits dragged down by struggling petrochemicals unit

LG Chem logged a 29.9 percent drop in operating profit to 615.6 billion won in the second quarter, weighed down heavily by sluggish demand for petrochemicals.

2023-07-27

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

LG Chem contemplates naphtha cracking facility sale

LG Chem is considering selling off its naphtha cracking facility amid weak demand for petrochemical products, according to local media reports.

2023-07-03

Oil companies move to plastic recycling as Korean gov't pushes for green

With environmental bans pressuring the oil and petrochemicals industry to move away from traditional fossil fuels, companies are eyeing a breakthrough in plastic recycling.

2022-12-10