HD Hyundai Chemical and Lotte Daesan Petrochemical Launch New Integrated Company 'H&L Advanced'

The First Tangible Result of Domestic Petrochemical Business Restructuring
Production Optimization and Enhanced Cost Competitiveness

The official launch of 'H&L Advanced,' the first tangible result of the restructuring of the domestic petrochemical industry, has taken place. With the integration of HD Hyundai Chemical and Lotte Daesan Petrochemical, the company aims to enhance synergy between refining and petrochemical businesses and pursue production optimization and increased cost competitiveness.

H&L Advanced CI.H&L Advanced

On September 4, at the Daesan Plant in Seosan, Chungcheongnam-do, HD Hyundai Chemical held a launch ceremony and announced that the new integrated corporation H&L Advanced has officially begun its operations.

Approximately 180 people attended the event, including the company’s co-CEOs, Namsoo Cho and Yangsik Cheon, as well as Yongjun Lee, Head of Chemicals at Lotte Group, and Myungjun Song, CEO of HD Hyundai Oilbank, along with key executives and employees.

H&L Advanced is an integrated corporation established through the 'Daesan Project No. 1', which aimed to boost competitiveness in the domestic petrochemical industry through business restructuring. The company name incorporates the identities of HD Hyundai Chemical (H) and Lotte Chemical (L). 'Advanced' reflects the commitment to sustainable growth through change and innovation.

H&L Advanced plans to organically connect competitiveness in the refining and petrochemical sectors, optimizing the entire process from raw material procurement to product manufacturing. Through this, the company aims to increase production efficiency and strengthen cost competitiveness, maximizing operational synergy driven by integration.

Over the mid to long term, the company plans to expand its business portfolio focusing on specialty materials and eco-friendly products. This will advance the business structure beyond general-purpose petrochemical products and secure a foundation for future growth.

Myungjun Song, CEO of HD Hyundai Oilbank, said at the launch ceremony, "We expect H&L Advanced to harness the combined capabilities and experience accumulated by both companies to become a nimble and highly competitive organization. We also look forward to H&L Advanced marking a new starting point for the future of Korea's petrochemical industry."

Yongjun Lee, Head of Chemicals at Lotte Group, stated, "Lotte and HD Hyundai have chosen the path of integration to secure the competitiveness of the Daesan business, building on the trust and cooperation developed through our joint ventures. We hope that the strengths of both companies will combine effectively and lead to meaningful achievements in all areas of production and operations."

This content was produced with the assistance of AI translation services.