Insight
In Focus: Four new Korean crackers in the planning
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Report summary
On 3 December, LG Chem signed a cooperative agreement with the South Jeolla provincial government as an indication of commitment to invest in new steam cracking capacity in Yeosu. GS Caltex, Hyundai Chemical and S-Oil also reiterated their cracker investment plans at a meeting with the Trade, Industry and Energy Minister. The four companies are expected to invest over 13 trillion KRW (US$12 billion) in total through to 2023, and create 1,500 new jobs. For further insight on ethylene assets around the world, navigate to the ethylene asset cost tool - The ethylene asset cost tool enables the user to view detailed asset level commercial information on the ethylene industry. It combines Wood Mackenzie's leading analysis from NGL, refining, coal and chemical services.
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