Contrasting Futures: Japan vs South Korea in Refining and Chemicals

Japan and South Korea, both leaders in refining and chemical production in Asia, face common headwinds from the energy transition. However, both are charting sharply different paths to stay competitive and capture growth. This insight addresses key questions: How will Japan and South Korea's Steam cracker feedstocks evolve amidst the downcycle in chemicals? What is the value addition from Petrochemical integration and how will that help the refiners ensure future-proof operations? How will S-Oil's Onsan refinery perform and compete globally after its flagship Shaheen Project? What strategies are refiners using to boost profitability? Why is the refinery rationalization landscape different for Japan and South Korea? How Japan and South Korea are leading in diversification into bio feedstock processing in Asia?