LG Chem, South Korea's leading chemical company, has secured 27,000 tons of naphtha from Russia amid a potential supply shortage caused by the war in the Middle East, the industry ministry and…

South Korea's LG Chem has announced the shutdown of its No. 2 ethylene plant located at the Yeosu complex, a significant move for the chemical giant.

LG Chem announced plans to double its electronic materials business to 2 trillion won ($1.3 billion) by 2030, shifting its portfolio towards high-value advanced materials driven by demand for artificial intelligence.

Sources indicate that LG Chem is preparing to shut down its number 2 ethylene plant in the near future.