KOREA (SOUTH): LG Chem becomes Asia’s No. 1 polyolefin producer with new naphtha cracking center
LG Chem Ltd. has entered mass production of polyolefin at its new naphtha cracking center in Korea with the largest capacity in Asia.
LG Chem on Thursday (24 June 2021) started commercial production at its new naphtha cracking center in Yeosu manufacturing base on southern coast of Korea. The new plant is capable of extracting 800,000 t/y of ethylene from crude oil, all of which will be used to make 800,000 t/y of polyolefin.
LG Chem had invested a total of KRW 2.6 trillion since 2018 to ramp up polyolefin production. Currently, only a few companies in the world, including LG Chem, Dow Chemical and ExxonMobil, own the catalyst technology for polyolefin production.
With the new naphtha cracking plant, LG Chem is capable of producing a total of 3.3 million t/y of ethylene, the largest in Korea, and a total of 1.2 million t/y of polyolefin. Based on polyolefin output capacity, LG Chem is No. 1 in Asia and amongst top 5 in the world. LG Chem projects to generate additional KRW 2 trillion revenue a year with the new plant.
Source: Daily “The Pulse News”, Seoul; 25 June 2021
(Syed Rashid Ali, Karachi, Pakistan)