|Jul 21, 2017|
|Jul 21, 2017|
Currency in KRW
|Full time employees:||2,857|
Lotte Chemical Corp. is engaged in the manufacture of petrochemicals. It operates through the following businesses: Resin products, Basic petrochemicals and Chemicals. The Resin products business provides polyethylene, polypropylene, polycarbonate and functional resin and polyethylene terephthalate. The Basic petrochemicals business includes ethylene oxide, mono ethylene, di ethylene and tri ethylene glycol, methyl methacrylate, ethanolamine, butadiene and samarium. The Chemicals business offers benzene, toluene and mixed xylene. The company was founded on March 16, 1976 and is headquartered in Seoul, South Korea.
Lotte Chemical is a core unit of Lotte group, the fifth-largest conglomerate in South Korea.
In terms of sales, Lotte Chemical ranks behind only LG Chem in the domestic chemical industry. It is one of the world's largest producers of chemical products such as polyethylene and ethylene.
Lotte Chemical began as Honam Petrochemical, which was established in 1976 through technological collaboration between companies including Japan's Mitsui group. Lotte group acquired the business in 1979. Honam became Lotte Chemical in 2012, when its management was integrated with Kp Chemical.
In South Korea, Lotte Chemical has the world's biggest ethylene capacity. Its plants in Yeosu, South Jeolla Province, and Seosan, South Chungcheong Province, each have 1 million-ton production systems.
The company is also expanding its international presence.
In 2018, it plans to open a joint plant with U.S. company Axiall in the state of Louisiana. The facility is to produce ethylene from shale gas. This stands to boost Lotte Chemical's ethylene capacity to 3.7 million tons.
In 2010, the South Korean company acquired Malaysia's Titan Chemicals, now called Lotte Chemical Titan Holding.
Seeking to reduce its heavy reliance on commodity chemicals, Lotte Chemical intends to reinforce its water treatment business. In addition, it has research-and-development programs focused on large-scale battery products, such as energy storage systems.
In the news
July 13, 2017 9:05 am JST
July 12, 2017 12:30 pm JST
July 11, 2017 8:30 pm JST
July 11, 2017 8:21 pm JST
July 11, 2017 8:01 pm JST
July 11, 2017 7:50 pm JST
July 11, 2017 7:41 pm JST
- Local currency
- US Dollar
|Income before tax||2,415.92B|
|Dividends per share||4,000|
|Operating cash flow||2,680.54B|
Currency in KRW
|Income before tax||2,082.35M|
|Dividends per share||3.44|
|Operating cash flow||2,310.43M|
Currency in USD
- Chairman & Co-Chief Executive Officer: Dong-Bin Shin
- President, Co-Chief Executive Officer & Director: Soo-Young Huh
- Executive Board Member & Head-Global Operations: Nak-Sun Seong
- Head-Financial Accounting: Sung-Taek Jo
- Executive Board Member & Head-Research Center: Dong-Woo Lee
- LOTTE Holdings Co., Ltd.(40.5%)
- Hotel Lotte Co., Ltd.(12.6%)
- National Pension Service of Korea(9.9%)
- Lotte Chemical Corp.(1.7%)
- The Vanguard Group, Inc.(0.9%)
- BlackRock Fund Advisors(0.9%)
- APG Asset Management NV(0.8%)
- Norges Bank Investment Management(0.7%)
- Robeco Institutional Asset Management BV(0.5%)
- Dimensional Fund Advisors LP(0.4%)
- Website: http://www.lottechem.com
- Address: 7-11/F, Lotte Tower Building, 51 Boramae-ro 5-gil, Seoul, 07071, South Korea
- Phone: +82.2.829.4114
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.