Petrochemical companies in Korea could witness consolidation after 2009

LG Chemical, Honam, Hanwha Petrochemical, Kumho Petrochemical, SK Corp., Samsung Total Petrochemical, Yeochun NCC and Korea Petrochemical are Korea's domestic petrochem producers. Of these only Yeochun NCC and Samsung Total are unlisted on the Korea Stock Exchange. The existing petrochemical companies in Korea could witness consolidation after 2009. The main driving force behind this would be a slow down in the petrochem cycle from 2009. Currently the petrochemical business is going through a favorable operating cycle for the past four years. But when the business goes through its cyclical lows in 2009, some of the companies face problems unless they raise their competence levels and gear up to face the challenges of the global market by 2010.
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