Lotte Chemical held an investor meeting in Seoul Wednesday, where CEO Lee Young-jun outlined a sweeping portfolio restructuring aimed at shifting the company away from commodity petrochemicals and toward four high-growth business pillars. Speaking to major domestic institutional investors at NH Financial Tower in Yeouido, Lee said the company plans to streamline its basic chemicals business through early restructuring, while focusing on four growth areas: advanced materials, fine chemicals, battery materials and hydrogen energy. In its basic chemicals business, Lotte Chemical’s Daesan unit is seeking a merger with HD Hyundai Chemical, a first-of-its-kind deal in Korea’s petrochemical industry, while its Yeosu complex has submitted a final restructuring plan to the government and is awaiting approval. The company said it expects the restructuring to free up capital, which it would then redirect toward higher-margin, higher-growth businesses. In advanced materials, subsidiary Lotte Engineering Plastics is set to begin full operation of what the company described as Korea’s largest comp
