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Honam Petro seeks to merge with Lotte Daesan

24-Jun-08

In a bid to boost cost competitiveness and create synergy, Honam Petrochemical is pressing for a merger with its unit Lotte Daesan Petrochemical Corp. The procedures for the merger will commence in the second half of the year. Honam Petrochemical, a unit of the South Korean family-run conglomerate Lotte Group, took over Lotte Daesan Petrochemical and KP Chemical Corp. in 2003 and 2004, respectively.

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