First Overseas On-site Management Since Inauguration
Lee Hoon-ki, CEO of Lotte Chemical, visited Indonesia for his first overseas on-site management since taking office to inspect the petrochemical complex LINE project and advanced materials business.
Lee Hoon-ki, CEO of Lotte Chemical (left), is touring the Line Project construction site with employees in Indonesia on the 18th (local time). (Provided by Lotte Chemical)
On the 18th (local time), CEO Lee toured the construction site of the Indonesia LINE project to check the progress and ordered the safe construction to proceed without any setbacks compared to the plan. He emphasized, "Based on the diverse overseas business operation know-how that Lotte Chemical has accumulated over a long period, let us strengthen locally optimized business operations and global production capabilities."
The LINE (LOTTE Indonesia New Ethylene) project, currently showing 90% construction progress, is a joint venture with subsidiary Lotte Chemical Titan, aiming for completion in 2025 to establish a mega petrochemical complex in Banten Province, Indonesia.
After 2025, it plans to produce 1 million tons of ethylene, 520,000 tons of propylene (PL), and 250,000 tons of polypropylene (PP) annually. This project is evaluated as one that will expand Lotte Chemical’s global production competitiveness and generate mutual strategic value such as Indonesia’s economic growth and job creation.
Lee Hoon-ki, CEO of Lotte Chemical (center), is touring the Line Project construction site with employees in Indonesia on the 18th (local time). (Photo by Lotte Chemical)
In the afternoon of the same day, CEO Lee visited Lotte Aluminium Indonesia’s packaging plant, and the next day, he toured the advanced materials business’s Indonesia ABS, PC, and PP compounding plants, urging them to do their best in site operations and customer management.
On the 17th, CEO Lee visited Lotte Energy Materials’ copper foil plant located in Malaysia, inspecting the secondary battery materials business while ordering it to serve as a strategic global production base securing top-quality standards and cost competitiveness.
Since his inauguration in December last year, CEO Lee has continued on-site management activities. Last month, he visited the Yeosu and Ulsan plants and emphasized, "We must lead the advancement of the business structure for sustainable growth," adding, "Strengthening profitability-centered management through the expansion of high value-added and high-function materials and securing solid competitiveness through the rapid establishment of hydrogen energy and battery materials businesses require the efforts of all employees."
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