Lotte Chemical Corp.

History

YearDetail
1976 LOTTE Chemical Corp. was established in 1976 as Honam Petrochemical in South Korea. 
1979 Honam Petrochemical Corp. (now Lotte Chemical) was acquired by the LOTTE Group and completed its privatization through a stock transfer.
1991 LOTTE Chemical Corp. (then known as Honam Petrochemical), a key subsidiary of the LOTTE Group, achieved a major milestone by going public and listing its shares on the Korean Stock  Exchange.
2003 LOTTE Chemical Corp. acquired the Hyundai Petrochemical 2nd Complex in Daesan, South Korea. This strategic acquisition significantly expanded Lotte's production capacity, enabling it to reach a Naphtha Cracking Center (NCC) capacity of 1 million tons for the first time in Korea.
2006 The company signed an MOU to establish a joint venture (Daesan MMA Corp.) with Mitsubishi Rayon, Japan.
2006 LOTTE Chemical Corp. acquired Daijin Chemical in China and renamed it to LOTTE Chemical Engineering Plastics (Jiaxing) Co. Ltd.
2009 LOTTE Chemical merged with Lotte Daesan Petrochemical Corp. to strengthen its business, achieve economies of scale, and establish a unified global production base, particularly following the acquisition of Hyundai Petrochemical's second complex in 2006.
2009 Lotte Chemical acquired Sambark Co., Ltd./Sambark LFT Co., Ltd. to strengthen its engineering plastics portfolio.
2010 The company acquired DACC Aerospace Co. Ltd. to strengthen its business portfolio, specifically to expand into high-value-added materials and carbon composite technologies.
2012 Honam Petrochemical officially merged with KP Chemical and rebranded as Lotte Chemical Corp. The merger was designed to integrate aromatics (PTA/PET) and olefins, aiming to strengthen competitiveness and secure new growth engines.
2013 Ube Industries Ltd. and LOTTE Chemical Corp. established a joint venture company in Malaysia named Malaysian Synthetic Rubber Sdn. Bhd. (often referred to as Lotte Ube Synthetic Rubber or LUSR) to produce butadiene rubber (BR).
2015 Axiall Corp. and Lotte Chemical Corp. had reached a final investment decision and signed a joint venture agreement to construct an ethane cracker plant in Lake Charles, Louisiana.
2019 Lotte Chemical signed a joint venture agreement with GS Energy to invest $ 677 million in a new petrochemical project.
2023  Lotte Chemical finalized the 2.7 trillion won acquisition of Iljin Materials, rebranding it as Lotte Energy Materials to strengthen its secondary battery materials business.
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