Lotte Chemical Suspends Operation of Some Lines at Yeosu Plant 2 for "Operational Efficiency"

Lotte Chemical will suspend operations of some production lines at Yeosu Plant 2 to improve management efficiency.

According to the petrochemical industry on the 3rd, Lotte Chemical has stopped the production lines of ethylene glycol (EG) and ethylene oxide derivatives (EOA) at Yeosu Plant 2. Earlier, the company had also suspended the operation of the PET production line within the same plant in the first half of the year.

The company stated, "We are reviewing the optimal operation plan by flexibly managing the operation of some downstream lines to improve efficiency according to the cracker operation rate adjustment." They added, "We are not suspending the entire operation of Plant 2."

The timing of the plant's restart or the possibility of sale has not yet been decided.

Lotte Chemical recorded an operating loss of 660 billion won this year alone, including 413.6 billion won in the third quarter.

In response, the company is expanding the 'operational efficiency' initiative for optimizing plant operations and reducing costs, extending it from the Yeosu plant in the first half to the Daesan plant in the second half.