A site of 2 million square meters (about 610,000 pyeong) in the Daesan Petrochemical Complex in Seosan, South Chungcheongnam-do will be newly established as a high-tech chemical specialized complex. Lotte Chemical invests KRW 3 trillion in related businesses.

The government, in the first half of the year, will also provide research and development (R & D) incentives by selecting the top 10 fine chemicals such as carbon composite materials in connection with the five major demand industries such as semiconductors, displays and automobiles.

The Ministry of Commerce, Industry and Energy held a `Chemical Industry Development Conference` at Daesan Petrochemical Complex on February 6, attended by local government officials such as Chungcheongnam-do and Seosan City Hall.

The government decided to push ahead with three major chemical renaissance projects: Daesan, Ulsan, and Yeosu. In Daesan Complex, a total of 2 million square meters of existing Daesan 2 industrial complex, 4 regional paper, and surrounding land will be newly constructed as high-tech chemical specialized complexes.

Meanwhile, this project is expected to solve the land shortage problem of existing tenants and promote new investment. The Ministry of Industry said, "We will create a high-tech chemical ecosystem in which plastic, fine chemicals, and small businesses coexist." Large petrochemical companies such as Lotte Chemical and Hanhwa Total are located in Taesan complex. Although it is close to the metropolitan area, land problems are complicated and further development is not being performed properly.

The chemical industry is also actively involved in this business. "Lotte Chemical will invest 3 trillion won and employ 870 people directly," said Professor Heo Soo-young, vice chairman of the Petrochemicals Association, who attended the meeting. "Lotte Chemical will actively engage in strategic alliances and cooperation with nearby companies." He said. According to estimates of research services conducted by the Ministry of Industry, petrochemical conglomerates and fine chemicals small and medium enterprises are expected to invest up to KRW 10 trillion here.

Besides, the government decided to enhance the safety management of Ulsan Petrochemical Complex by improving old-age pipeline network and facilities. We will also develop high value-added materials needed for local industries such as automobiles and shipbuilding. Yeosu Petrochemical Complex will form the `South Sea Rubber Belt`. In connection with Pusan area, it is fostered as a center of high added elastic materials such as special rubber.

The government explained that in the first half of the year, it will select top 10 fine chemical materials linked to the five major demand industries such as semiconductors, displays and automobiles, and strengthen human resource support. The plan is to grant R & D incentives for cooperation with demanding large companies and to strengthen cooperation between large and medium-sized enterprises.

Besides, it plans to strengthen R & D for high value added chemical materials such as engineering plastics and carbon composites, and to encourage companies to increase their R & D share to 3%, which is the level of developed countries. We will build a pan-government task force (TF) to improve the quality of construction and environment-related materials.

On the other hand, in relation to areas where small-scale chemical companies face difficulties such as fine dust reduction and greenhouse gas reduction, they decided to find win-win cooperation models that support technology and manpower of large enterprises.

"The chemical industry is responsible for one-fifth of Korea`s manufacturing employment, production and exports," Lee In-Ho, vice minister of industry, said. "Now we have to grow one step further in quantitative growth."

By Park Jung Il comja77@


[ copyright ⓒ The Digitaltimes ]