Korea moves from PX importer to exporter

Oct 20, 1997 02:00 AM

August 28, 1997 With the ongoing construction of new para-xylene (PX) plants in South Korea, domestic production capacity for 1997 will catch up with that of Japan by expanding to 3 million tons per annum, rising from 1.7 million tons as of now.
The increase is to result from the combined 1.3 million-ton capacity, becoming available in the last quarter of this year, of 3 new South Korean PX manufacturers. Hyundai Oil (with a 300,000-tpy capacity), Samsung General Chemical (400,000 tpy) and Ssangyong Oil Refining (600,000 tpy) doubles the current number of producers.
In 1996, South Korean domestic PX demand was 1.76 million tons, the shortfall being imported from Japan and others, but the new capacity will now make South Korea an exporter.
The Hyundai group is enhancing the current refining capacity from 110,000 to 310,000 bpd at the Taesan site, enabling from expansion into a new business area, producing PX exclusively for exportation.
Samsung built its own 350,000-tpy PTA plant and commenced operations this May, and aims to supply its own PTA material through entry into the PX business.
Ssangyong has decided to enter the petrochemicals business to output such products as styrene monomer, with the majority of PX bound for export.

Source: not available
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