Leading chemical companies South Korea 2023, based on sales revenue

The chemical industry is one of South Korea’s most important industries. Several major South Korean conglomerates are involved in the industry managing various companies, subsidiaries, and joint ventures. In 2023, LG Chem was the leading chemical company in South Korea, with a sales revenue of around 15 trillion South Korean won. 

Domestic manufacturing industries/chemical industry in South Korea

Among all domestic manufacturing industries in South Korea, the chemical industry ranked third in terms of production value in 2022. Domestic chemical production focuses mainly on petrochemicals and commodity chemicals. Both the commodity chemicals and the petrochemicals enjoy high domestic demand, mainly from the wider domestic manufacturing sector as well as the energy sector.

Chemical trade in South Korea

Being one of the world’s largest chemicals markets, petrochemicals are a major export good for South Korea, with China being the main destination. The country is also a major importer of gas and oil, as it has little natural energy resources. Large petrochemical plants across South Korea process these resources for domestic consumption and international trade, resulting in a production value of trillions of South Korean won.