Lotte Chemical Corporation (Korean: 롯데케미칼 주식회사) is a chemical company headquartered in Seoul, South Korea.[1] Lotte Chemical is one of the largest chemical companies in the world by revenue.[2] Lotte Chemical manufactures synthetic resins and other chemical products used for various industrial materials.[3]

History

Lotte Chemical was established as Honam Petrochemical in 1976 and became part of Lotte Group after three years. After being integrated into Lotte, the company acquired various companies for business expansion. In 2010, Honam took over Malaysia's Titan Chemicals for US$1.27 billion to expand its business to the Southeast Asian market. In 2012, Honam merged with KP Chemical and was renamed Lotte Chemical.[4][5] Lotte Chemical acquired Samsung's chemical businesses, including Samsung SDI's chemical unit, Samsung Fine Chemicals, and Samsung BP Chemicals for 3 trillion won in 2016.[6][7]

Products

Lotte Chemical produces ethylene, polyethylene, and polypropylene by using naphtha extracted from crude oil.[8]

See also

References

  1. ^ "Honam Petrochemical and KP Chemical to merge into Lotte Chemical Corporation".
  2. ^ "C&EN's Global Top 50 chemical firms for 2021". cen.acs.org.
  3. ^ Kim, Seung-yeon (May 19, 2022). "Lotte Chemical to spend 10 tln won by 2030 to boost hydrogen, battery biz". Yonhap. Seoul.
  4. ^ Hwang, Si-young (December 13, 2012). "Honam Petrochemical to be renamed into Lotte Chemical". Maeil Business Newspaper.
  5. ^ Cheon, Jong-woo; Cho, Mee-young (July 16, 2010). "S.Korea's Honam to buy Malaysia's Titan for $1.27 billion". Reuters. Seoul.
  6. ^ "Samsung Group sells chemical assets to Lotte Group for $2.6 billion". Reuters. Seoul. October 30, 2015.
  7. ^ Kang, Yoon-seung (February 29, 2016). "Lotte changes company name after takeover". Yonhap News Agency. Seoul.
  8. ^ Kim, Je-lim (January 22, 2016). "Lotte Chemical to see profit rise this year". Maeil Business Newspaper.

External links