S-Oil expected to continue recovery this year S-Oil's residue upgrading facility (S-Oil) S-Oil, South Korea’s No. 3 refiner, is expected to see an improvement in profits this year, continuing a recovery momentum from the final quarter of 2020, according to the industry sources Sunday. S-Oil said the company expects a recovery based on the increasing

World’s First Hydrogen Law Comes into Effect in Korea ⓒ Getty Images Bank The “hydrogen law” came into effect in South Korea on February 5, one year after the legislation of the law, the first of its kind in the world, and two years after the government’s announcement of its hydrogen economy roadmap. Now that

LG Chem brand value grows amid pandemic (Brand Finance) LG Chem is the only firm among the world’s top seven chemical companies that saw its brand value grow amid the pandemic. According to the Brand Finance Chemicals 25 2021 report, the South Korean chemical giant’s brand value stands at $3.62 billion this year, a 2.9

Petrochemical Firms Join Carbon Neutral Drive Posted on February 9, 2021 by Korea Bizwire in Business, Energy & Green  SK Advanced Co.s Ulsan Plant. (image: SK Gas) SEOUL, Feb. 9 (Korea Bizwire) — South Korean petrochemical companies said Tuesday they will join the country’s green energy drive, which centers on achieving carbon neutrality by 2050. The country launched a new committee on achieving

S. Korea's exports set to expand up to 12% over Q1: Exim Bank South Korea's exports (Yonhap) The state-run Export-Import Bank of Korea (Exim Bank) said Sunday the country's exports are expected to expand up to 12 percent on-year over the first quarter on strong demand for chips and cars. Outbound shipments over the January-March

(LEAD) Lotte Chemical Q4 net more than doubles on robust demand (ATTN: UPDATES throughout with more details; ADDS photo) SEOUL, Feb. 5 (Yonhap) -- Lotte Chemical Corp., a major South Korean petrochemical company, said Friday its fourth-quarter net profit more doubled from a year earlier on strong demand for its petrochemical products. The petrochemical unit

Oil Refining Companies Shifting Focus to Eco-friendly Businesses Daesan Plant of Hyundai Oilbank   South Korean oil refining companies are expanding their business portfolios to cover more eco-friendly products with China, the European Union and the United States aiming to achieve carbon neutrality. Last year, the companies went through one of the worst years in

S. Korean exports show double-digit growth for second straight month S. Korean exports rise by 11.4% in January, increasing by over 20% in the US, China and EU Cargo containers filled with export products are loaded onto ships at a dock in the Port of Busan, in the city’s Nam District. (Yonhap News) In defiance

Lotte chemical firms aim for carbon neutral growth by 2030 Lotte Chemical CEO and President Kim Gy-hyun, center, and company employees announce the ″Green Promise 2030,″ on Tuesday. [LOTTE CHEMICAL] (Korea JoongAng Daily) Lotte Group’s four chemical subsidiaries are aiming for carbon neutral growth and 6 trillion won ($5.38 billion) in accumulated revenue from ecofriendly

S Korea's Hanwha Total to shut LPG-fed cracker in Mar to expand ethylene capacity by 50% HIGHLIGHTS Expansion to raise ethylene production capacity by half Hanwha Total's naphtha cracker currently operating at 100% capacity SINGAPORE — South Korea's petrochemical maker Hanwha Total plans to shut down its LPG-fed steam cracker in Daesan from March for 45