Korean petrochemical companies increase domestic investments

South Korean petrochemical companies are increasing their domestic investments in value-added products and overseas investments in emerging markets, transforming their businesses. The companies have been large exporters to China, supplying more than 500,000 tons of benzene to the country in 2009, up from 275,000 tons in 2008. SK Energy’s Chinese exports were valued at some 7.43 trillion won (US$6.6 billion) in 2009, an increase of more than 8% from the previous year, taking its operating profit to an industry record high of 624.6 billion won (US$). (March 11, 2010)