16 Petrochemical Firms Submit Restructuring Plans—Industry Minister Says 'First Step Successfully Taken'
Sixteen major South Korean petrochemical firms have submitted restructuring plans ahead of deadline, enabling government-backed sector overhaul and support measures.
South Korea’s major petrochemical complexes in Yeosu and Ulsan have submitted restructuring plans, advancing government-led efforts to reduce naphtha cracking center (NCC) capacity by up to 3.7 million tons, with LG Chem and GS Caltex forming a JV and further industry consolidation underway.
#YonhapInfomax #Petrochemical #LGChem #NCCReduction #Restructuring #GSCaltex #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=96425
Petrochemical NCC Reduction Targets Within Reach as Yeosu and Ulsan Industrial Complexes Submit Restructuring Plans
South Korea’s major petrochemical complexes in Yeosu and Ulsan have submitted restructuring plans, advancing government-led efforts to reduce naphtha cracking center (NCC) capacity by up to 3.7 million tons, with LG Chem and GS Caltex forming a JV and further industry consolidation underway.
SK Bioscience Hires Former LG Chem Executive Cho Bong-jun as Executive Vice President to Bolster Manufacturing Competitiveness
SK Bioscience Co. has appointed former LG Chem executive Cho Bong-jun as Executive Vice President to strengthen its global manufacturing and regulatory capabilities.
LG Chem to Reduce Stake in LG Energy Solution—Palliser Urges Clarity on Timeline and Execution
LG Chem’s plan to cut its LG Energy Solution stake to 70% faces calls from Palliser Capital for concrete timelines and execution details, as markets react to a lack of specifics.
Glenwood PE and Abu Dhabi’s Mubadala have finalized the 1.4 trillion won ($1.08 billion) acquisition of LG Chem’s water treatment business, now spun off as NanoH2O, targeting global desalination markets.
#YonhapInfomax #GlenwoodPE #Mubadala #LGChem #NanoH2O #DesalinationMarket #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=93664
Glenwood PE, Mubadala Complete Acquisition of LG Chem’s Water Treatment Business
Glenwood PE and Abu Dhabi’s Mubadala have finalized the 1.4 trillion won ($1.08 billion) acquisition of LG Chem’s water treatment business, now spun off as NanoH2O, targeting global desalination markets.
LG Chem is ramping up its electronic materials business, appointing a semiconductor materials expert as CEO and expanding its growth strategy to capitalize on the AI-driven semiconductor boom.
#YonhapInfomax #LGChem #ElectronicMaterials #Semiconductor #AIBoom #GrowthStrategy #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=93155
Semiconductors Present Opportunity—LG Chem Strengthens Focus on Electronic Materials Business
LG Chem is ramping up its electronic materials business, appointing a semiconductor materials expert as CEO and expanding its growth strategy to capitalize on the AI-driven semiconductor boom.
LG Chem announced plans to reduce its stake in LG Energy Solution from 79.4% to 70%, triggering a 6.6% plunge in LG Energy Solution shares and outpacing declines in rival battery stocks.
#YonhapInfomax #LGChem #LGEnergySolution #StakeReduction #SharePrice #KOSPIIndex #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=93077
LG Chem to Reduce Stake in LG Energy Solution—LG Energy Solution Shares Plunge 6.6%
LG Chem announced plans to reduce its stake in LG Energy Solution from 79.4% to 70%, triggering a 6.6% plunge in LG Energy Solution shares and outpacing declines in rival battery stocks.
LG Chem to Reduce Stake in LG Energy Solution to 70%
LG Chem will reduce its stake in LG Energy Solution to 70%, aiming for balanced capital allocation and expanded growth drivers, with plans to boost shareholder returns.
South Korea’s industry minister reaffirmed there will be no extension to the year-end deadline for petrochemical firms’ restructuring plans, warning that companies missing it will lose government support and must weather future crises independently.
#YonhapInfomax #PetrochemicalRestructuring #KimJungKwan #LGChem #GovernmentSupport #YeosuIndustrialComplex #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=92519
Industry Minister Says No Extension for Petrochemical Business Restructuring Deadline—Support Will Be Withdrawn
South Korea’s industry minister reaffirmed there will be no extension to the year-end deadline for petrochemical firms’ restructuring plans, warning that companies missing it will lose government support and must weather future crises independently.
South Korea’s steel and petrochemical industries face mounting pressure from a weak won, rising dollar costs, and China’s supply glut, as they pursue high value-added investments and urge exchange rate stability to protect margins and fund restructuring.
#YonhapInfomax #Steel #Petrochemicals #ExchangeRate #LGChem #LotteChemical #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=92501
[High Exchange Rate Shock] Steel and Petrochemicals Seek Stability Amid Business Overhaul
South Korea’s steel and petrochemical industries face mounting pressure from a weak won, rising dollar costs, and China’s supply glut, as they pursue high value-added investments and urge exchange rate stability to protect margins and fund restructuring.
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