KOREA (SOUTH): South Korean petrochemical producers vow to increase spending & exports

SK Global Chemical, LG Chem and about 30 other top Korean petrochemical producers expect investments to rise to a total of approximately 7.5-trillion won (USD 7.35-billion) this year, compared to about 6.5-trillion won during 2013, according the Ministry of Trade, Industry and Energy.

SK Global plans to invest about 960-billion won in construction of a new paraxylene plant that will create 1,400 jobs and generate USD 1.3-billion in annual exports.

Source: Weekly "PetroChemical News", Durham, NC, USA; 1 Sept 2014
(Syed Rahid Ali, Karachi, Pakistan)