Commodities
16 manufacturers plan 30% cutback as supply glut weighs on profits
LG Chem and other South Korean chemical companies face government pressure to address a supply glut. (South Korean Ministry of Trade, Industry and Resources)
NAMI MATSUURA
January 16, 2026 04:05 JST
SEOUL — Lotte Chemical and LG Chem, two of South Korea’s top chemical manufacturers, are at the forefront of plans by 16 companies to slash domestic ethylene production capacity by a combined 30%, driven by government pressure to take long-delayed action to resolve a glut.