South Korean petrochemical business continues to grow

Driven by the strong demand from the Chinese market, the scale of South Korea's petrochemical business has continued to grow and capacity will be further expanded in the next few years, including Hunan Petrochemical's construction of a new polyethylene plant in Lishui.

Sinopec News News May 30 news, stimulated by the strong growth in China's market demand, Korean companies continue to expand the petrochemical business. In the past 3-4 years, most major petrochemical producers in South Korea have expanded their production capacity to a world-class scale, and several companies are planning to further expand their production capacity in the coming years.

Hunan Petrochemical Company decided to invest approximately US$500 million to expand its cracker in Yeosu from 250,000 tons/year to 1 million tons/year. The project also includes new polyethylene and polypropylene plants, which are planned to be completed in 2012; Hyundai Oil The company’s ongoing 800,000-tonne/year paraxylene project will be completed in 2013; S-Oil is building a second aromatic unit, which will produce 900,000 tons of paraxylene and 280,000 tons of benzene annually.

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