Lotte Chemical Group "Long-term Growth Through Expansion of Specialty Products and Eco-friendly Business"

On the 13th in Yeouido, Seoul, '2023 CEO IR Day'
Communication with investors... Announcement of petrochemical industry change response strategy
Kim Gyo-hyun "Considering businesses to maximize profitability and optimize efficiency"

Kim Gyo-hyun, General Head of the Chemical Division at Lotte Group, stated on the 13th, "The major companies in the chemical division are considering their businesses and actively executing them with the goal of maximizing profitability and optimizing efficiency."

At the 'CEO IR (Investor Relations) Day' held for 30 major domestic investors on the same day, General Head Kim emphasized, "This is a time when agile movement is more necessary than ever due to rapid changes in the international situation and the chemical industry." Following last year, this year's event was attended by General Head Kim, Kim Yong-seok, CEO of Lotte Fine Chemical, and Kim Yeon-seop, CEO of Lotte Energy Materials, who presented their respective company strategies.

Lotte Chemical announced plans to expand high value-added (specialty) products such as separator PE·PP and solar EVA to mitigate profit volatility and improve profitability. They plan to increase the sales proportion of specialty materials to 60% by 2030 through expanding value-added products and transitioning to eco-friendly products. Lotte Chemical is reducing the proportion of low-profit business groups in general-purpose products to respond to the rising self-sufficiency rate of petrochemical products in China and to strengthen sustainable businesses.

Lotte Chemical aims to increase its post-consumer recycled (PCR) business to 500,000 tons annually by 2030. Additionally, they have set a goal to increase chemical recycling PET (C-rPET) production to 340,000 tons annually by 2030 and are currently in the process of converting production lines.

On the 13th, at Park One NH Financial Tower in Yeongdeungpo-gu, Seoul, (from left) Kim Yeonseop, CEO of Lotte Energy Materials, Kim Kyohyun, General CEO of Lotte Group's Chemical Division, and Kim Yongseok, CEO of Lotte Fine Chemical, are conducting the integrated 'CEO IR Day' for Lotte Chemical Division's listed companies.
[Photo by Lotte Chemical]

Lotte Fine Chemical plans to expand high value-added specialty materials and clean ammonia and hydrogen businesses in the chemical sector. In the green materials sector, they aim to secure the world's number one production scale of cellulose derivatives and strengthen research and development (R&D) to lead new markets.

Lotte Energy Materials has set a goal to become the global No.1 in high-end copper foil by targeting the European and North American markets with its high-strength, high-elongation hybrid copper foil technology.

This content was produced with the assistance of AI translation services.