What were the key financial results for Lotte Chemical in Q1, and what factors drove its return to profitability?

Lotte Chemical reported a net profit of W33 billion in Q1—the first since Q3 2023—driven by higher sales volumes, improved spreads, and recovery in downstream demand. Quarterly revenue rose 6% to W4.9 trillion, while operating income swung to W73 billion from a W433 billion loss in the previous quarter.

How is Lotte Chemical restructuring its business, and what major corporate actions are scheduled in 2026?

Lotte Chemical is transitioning from basic chemicals to high-value sectors like advanced materials, fine chemicals, battery materials, and hydrogen energy. It will split off its Daesan basic material business on 1 June to form Lotte Daesan Petrochemical, which will merge with HD Hyundai Chemical by September 2026 into a 50–50 joint venture. Separately, it submitted a March 2026 plan to merge its Yeosu cracker operations into the Yeochun NCC joint venture with Hanwha Solution and DL Chemical, each holding a 33.3% stake.

South Korea's Lotte Chemical Returns to Net Profit in Q1 on Improved Spreads

May 12, 2026

South Korea's Lotte Chemical returned to Q1 profitability with W33 billion net profit, driven by improved spreads and demand recovery. The company announced restructuring mergers with HD Hyundai and Hanwha while transitioning toward high-value specialty sectors.

icis

2026-05-12

South Korea's Lotte Chemical Returns to Net Profit in Q1 on Improved Spreads

South Korea's Lotte Chemical Returns to Net Profit in Q1 on Improved Spreads

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