The Korea Petrochemical Industry Association is changing its name to the 'Korea Chemical Industry Association' and will recruit companies related to chemical substances as members.
According to the industry on the 10th, the Korea Petrochemical Industry Association held a general meeting on that day and decided to change the association's name to the Korea Chemical Industry Association. After obtaining approval from the Ministry of Trade, Industry and Energy, the association plans to officially change its name at the 'Chemical Industry Day' event on the 31st.
Along with this, the association will broaden its role to serve as a central point across the entire chemical industry value chain. Unlike in the past when only traditional petrochemical companies were members, it plans to recruit chemical substance and chemical product manufacturers of a certain scale or larger as members.
This name change is the first in 12 years since 2012. It is interpreted as a decision to attract new members such as companies focusing on high value-added products amid a prolonged industry downturn.
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