■ SambarkLFT, LOTTE Chemical’s subsidiary for advanced functional material production, celebrates groundbreaking of compounding plant in Yulchon Industrial Complex, Jeollanam-do Province… to improve production technologies of subsidiary and expand materials business for global competitiveness.
■ SambarkLFT to expand business by adding advanced functional materials such as ABS and PC… aiming to grow into LOTTE Group Chemical Division’s advanced material production site.
■ SambarkLFT to produce about 500,000 tons of compounding materials such as ABS and PC once the compounding plant in Yulchon Industrial Complex is completed in 2025.
■ LOTTE Chemical President & CEO Lee Hun Ki said “We will invest more than 300 billion KRW in Yulchon Industrial Complex until 2026 to complete Korea’s largest compound production plant and grow into No. 1 advanced functional material producer in the world." and “We will hire more outstanding employees and contribute to local economy to co-exist with Jeollanam-do Province and take initiatives for local development.”

LOTTE Chemical's subsidiary, SambarkLFT Co., Ltd., which produces advanced functional materials, held a groundbreaking ceremony for its new compounding plant in Yulchon Industrial Complex in Jeollanam-do.

The groundbreaking event, which began at 3:30 p.m. on Tuesday, the 30th, was attended by Jeollanam-do Governor Kim Young Rok, Jeollanam-do Council Chairman Seo Dong Wook, Suncheon City Mayor No Kwan Gyu, Gwangyang City Deputy Mayor Kim Ki Hong, Gwangyang City Council Chairman Seo Young Bae, Gwangyang Bay Free Economic Zone Authority Chief Song Sang Rak, as well as, LOTTE Chemical President & CEO Lee Hun Ki, LOTTE Chemical Advanced Chemicals CEO Lee Young Jun, and SambarkLFT CEO Han Myung Jin, among others, to congratulate SambarkLFT Co., Ltd. (SambarkLFT) on its groundbreaking ceremony, aiming to become a "global specialist for comprehensive material production."

SambarkLFT signed an agreement with Suncheon City, Gwangyang City, and the Gwangyang Free Economic Zone Authority in 2021 to expand its material business and enhance its production technology capabilities, investing a total of KRW 450 billion in 246,871 square meters (74,678 pyeong) of land in Yulchon 1 Industrial Complex. The land purchase was completed in May 2022, followed by the subsequent work including the design work for the plant construction. The groundbreaking ceremony was held with the aim of commencing operations in the second half of 2025.

LOTTE Chemical President & CEO Lee Hun Ki stated, "By investing over 300 billion KRW in Yulchon Industrial Complex by 2026, we will establish a compound production plant capable of producing 500,000 tons annually, making us the largest domestic operator and a global leader in advanced functional materials. We will hire more outstanding talents and contribute to the local economy, leading the way in regional development alongside Jeollanam-do."

Jeollanam-do Governor Kim Young Rok expressed gratitude, saying, "I deeply appreciate LOTTE Chemical's bold investment in Jeollanam-do, despite the challenging economic conditions such as high prices and exchange rates. Jeollanam-do will support LOTTE Chemical and SambarkLFT in becoming a global leader in advanced materials by building infrastructure for carbon capture, utilization, and storage, as well as improving processes based on simulations."

Gwangyang City Deputy Mayor Kim Ki Hong congratulated the groundbreaking of the Yulchon compound plant, saying, "I sincerely congratulate LOTTE Chemical and SambarkLFT, leading global producers of functional materials, on this milestone. This project will greatly benefit the local economy affected by the four highs—high exchange rates, high prices, high interest rates, high oil prices—and I hope it will contribute significantly not only to our city but also to the material industry in our country. We will actively support this endeavor."

Suncheon City Mayor Noh Kwan Kyu expressed gratitude, saying, "I am thankful for the bold investment in our region despite challenging economic conditions. We will continue to pursue a sustainable pro-business policy, fostering an environment conducive to business and actively cooperating in nurturing outstanding local talent."

LOTTE Chemical announced that once the SambarkLFT Yulchon Complex is fully operational after 2025, it will secure the largest domestic production capacity of approximately 500,000 tons for ABS, PC, and other compounding materials. They also stated plans to expand the production capacity to 700,000 tons in the future.

SambarkLFT will continue to produce special functional compound materials for automobiles and electronics at its existing plants in Asan and Yesan, Chungnam Province. Through the newly established Yulchon Complex, they will produce compounding materials such as ABS and PC used in home appliances, including TVs and refrigerators, IT devices like mobile phones and laptops, as well as automobiles and medical devices, aiming to enhance technological sophistication and production efficiency according to product requirements.

Furthermore, SambarkLFT aims to grow as a specialized producer of advanced materials within the LOTTE Chemical Group, accumulating compounding production technology and securing production competitiveness. Their goal is to become a global leader in producing high-value-added compound materials in the future.