View of LG Chem's Cheongju plant. (Photo=LG Chem)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] The LG Chem is considering suspending the operation of its SM plant in Yeosu, which produces styrene monomers (SM), a petrochemical raw material.

According to the petrochemical industry on the 13th, LG Chem is considering shutting down its SM production line in Yeosu at the end of this month.

SM is a raw material used in synthetic resins and synthetic rubber for home appliances, and has seen a significant drop in prices due to the expansion of Chinese companies and sluggish demand.

There has also been a steady sale of the second plant of the naphtha cracking facility (NCC) in Yeosu, where LG Chem manufactures basic oils such as ethylene.

In response, LG Chem said, "We are considering various measures to strengthen the competitiveness of the petrochemical business and enhance business value, but nothing has been decided yet."

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