LG Chem to Halt High-Density Polyethylene Production in South Korea's Daesan
On October 15, ZS News learned that, according to a customer letter seen by Platts, a division of S&P Global Commodity Insights, on October 14, LG Chem Ltd. announced plans to shut down its high-density polyethylene (HDPE) plant located in Daesan, South Korea.
Although the company stated that more details about the timeline are still to be determined, this announcement comes after a period of continued weak trading activity in East Asia.
"The petrochemical industry in South Korea is currently facing serious challenges to its profitability, leading the entire industry to undergo structural adjustments and business redeployments," the company said.
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