17th Anniversary of Chemical Industry Day... Government: "Accelerating Business Restructuring, R&D Roadmap to Be Announced Soon"

More than 300 Attendees Including Vice Minister, Association, and Industry CEOs
Paek Jonghun, President of Kumho Petrochemical, Receives Silver Tower Order of Industrial Service Merit
Kim Hanseok, Head of SK Chemicals Research Institute, Receives Bronze Tower Order of Industrial Service Merit

The domestic chemical industry is gathering in one place on Chemical Industry Day to reaffirm its commitment to a new leap forward.

The Korea Chemical Industry Association (Chairman Shin Hak-cheol) announced on October 31 that it would hold the 17th Chemical Industry Day commemorative event in the Grand Ballroom at The Plaza Hotel in Jung-gu, Seoul, in the afternoon. This event, now in its 17th year, has been held annually since 2009 to commemorate the completion of the Ulsan Petrochemical Complex on October 31, 1972. This year's event was attended by approximately 300 people, including Moon Sinhak, Vice Minister of Trade, Industry and Energy; Shin Hak-cheol, Chairman of the Korea Chemical Industry Association and Vice Chairman of LG Chem; Cho Wonil, President of the Korean Federation of Chemical Societies; top executives from the industry; recipients of government awards; and other stakeholders in the chemical industry.

Shin Hakcheol, Chairman of the Korea Chemical Industry Association and Vice Chairman of LG Chem. The Asia Business Daily DB

In his commemorative address, Chairman Shin Hak-cheol stated, "Although challenging conditions persist both domestically and internationally, the chemical industry is seizing this as an opportunity to restructure and is making every effort to restore its competitiveness." He added, "We hope the government will recognize the industry's sincere efforts in business restructuring by providing support measures such as financial, tax, and R&D assistance, as well as regulatory relaxation."

In his congratulatory remarks, Vice Minister Moon Sinhak emphasized, "Speed and timing are crucial in business restructuring," and stated, "The government will also provide a support package to ensure that business restructuring can be completed swiftly." He also mentioned, "We will soon announce the 'Petrochemical Industry Restructuring Roadmap' to secure the fundamental competitiveness of the petrochemical sector," and added, "We will focus on supporting the development of future core technologies for high value-added and eco-friendly transformation."

Meanwhile, at the event, Paek Jonghun, President of Kumho Petrochemical, was awarded the Silver Tower Order of Industrial Service Merit, and Kim Hanseok, Head of the SK Chemicals Research Institute, received the Bronze Tower Order of Industrial Service Merit for their contributions to the development of the chemical industry and the national economy. In addition, a total of 42 individuals were honored, including 8 government awards and 34 Ministry of Trade, Industry and Energy commendations.

A representative from the association stated, "This event was organized to encourage member companies who are striving despite difficult market conditions and to provide a platform for unity within the industry," adding, "We will continue to provide comprehensive support to ensure the ongoing development of the chemical industry."

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