Lotte Chemical

Lotte Chemical Corporation is a chemical company headquartered in Seoul, South Korea.[1] Lotte Chemical is one of the largest chemical companies in the world by revenue.[2] Lotte Chemical manufactures synthetic resins and other chemical products used for various industrial materials.[3]

On November 12, 2025, the ownership and control of LOTTE Chemical Pakistan Limited (PSX: LOTTE), Pakistan's sole producer of purified terephthalic acid (PTA), officially shifted following the completion of a major buyout by PTA Global Holding Limited. The UAE-based entity acquired a controlling stake of approximately 78.74% in the company. This transaction included the purchase of the former parent company, Lotte Chemical Corporation of South Korea's, entire 75.01% shareholding, and an additional 3.73% through a Mandatory Public Offer to minority shareholders. The change in control resulted in a complete overhaul of the company's governance: the entire seven-member board of directors, including Chairman Jo Hyun Kwoun and Chief Executive Young Dae Kim, immediately resigned. They were replaced by a new board, with Imtiaz Ahmed appointed as the new Chairman and Adnan Afridi as the new Chief Executive. This acquisition marks the full exit of Lotte Chemical Corporation from the Pakistani market, concluding its ownership that began in 2009.[4][5][6]

History

Lotte Chemical was established as Honam Petrochemical in 1976 and became part of Lotte Group after three years. After being integrated into Lotte, the company acquired various companies for business expansion. In 2010, Honam took over Malaysia's Titan Chemicals for US$1.27 billion to expand its business to the Southeast Asian market. In 2012, Honam merged with KP Chemical and was renamed Lotte Chemical.[7][8] Lotte Chemical acquired Samsung's chemical businesses, including Samsung SDI's chemical unit, Samsung Fine Chemicals, and Samsung BP Chemicals for 3 trillion won in 2016.[9][10]

Products

Lotte Chemical produces ethylene, polyethylene, and polypropylene by using naphtha extracted from crude oil.[11]

Subsidiary

• Lotte Chemical Titan
• Lotte Energy Materials
• Lotte Chemicals U.S.A.
• Hantok Chemicals
• Lotte Fine Chemicals
• KP Camtech

Corporate governance

As of 7 April 2023.

History slogans

• Honam Petrochemical Creating a prosperous future through petrochemical industry (1983)
• Honam Petrochemical creates new technologies through advanced research and development (1994 ~ 1996)
• Life value Creator (2012 ~ 2018)
• The Global Player (2018 ~ 2019)
• Chemizing Thoughts into the Future (2019 ~ 2021)
• Adding Momentum to the World with Chemistry (2021 ~ Present)

See also

• List of largest chemical producers

External links