Hanwha Solutions Chemical Division

Established in 1965, Hanwha Solutions Chemical Division is a total solutions chemical company with streamlined production systems that offer polyolefin (PO), polyvinyl chloride (PVC), chlor-alkali (CA), and toluene diisocyanate (TDI). As South Korea’s leading petrochemical company, we dominate the nation’s industry with high-quality PVC, CA, and linear low-density polyethylene (LLDPE) offered at competitive prices. We are growing into a global green company by increasing product value, enhancing cost competitiveness, and developing eco-friendly products.

In the PO business, we succeeded in producing LPDE for the first time in South Korea in 1972. In 1985, we were the nation’s first to start producing high-density ethylene vinyl acetate (EVA) as well as wire and cable resin for power transmissions and distribution cables. We now produce adhesives for hygiene products and hydrogenated hydrocarbon resins. 

Beginning with South Korea’s first successful PVC production in 1966, our PVC business localized production of chlorinated polyvinyl chloride (CPVC) in 2016, improving the quality of our PVC. In 2014, we developed ECO-DEHCH, a premium eco-friendly plasticizer, another first for the nation. We are moving to expand our CA business in the global market while holding South Korea’s No. 1 market share in chlorine and caustic soda production. In the TDI business, we were the second in the world to produce and localize high-purity XDI, a raw material used for high-refractive lenses, and today we are continuing to increase global competitiveness in the polyurethane business. We also obtained three New Technology Certifications from the Korean Agency for Technology Standards for CPVC, ECO-DEHCH, and XDI.

We continue to improve production efficiency and cost competitiveness while meeting growing demand for our products around the world with production bases in China, Thailand and Saudi Arabia. Our PVC plant, completed in 2011 in Ningbo city in China’s Zhejiang province, produces 360,000 tons of PVC each year with continuous improvements in the production process. In Bang Phli, Thailand, we built an alkali soluble resin plant with an annual production capacity of 17,000 tons. This facility serves as an important operational base as we expand into other Southeast Asia markets. We’ve also signed a joint venture contract with International Polymers Company (IPC), a private petrochemical company in Saudi Arabia. In 2015, we achieved cost reductions and economies of scale as our joint venture with IPC began to produce EVA and LDPE.

At the same time, our R&D center is focusing on strengthening the competitiveness of existing businesses while advancing new technologies. We partnered with three universities to set up research centers, including the Institute of Chemical Processes at Seoul National University, the Yonsei-Hanwha Chemical Innovation Technology Center, and the KAIST-Hanwha Chemical Future Technology Research Center. This significantly supported our commitment to top quality while accelerating the pace of innovation in developing high value-added and eco-friendly products.

In addition, we plan to increase value in the industry by developing high-performance super engineering plastics such as polyetherketoneketone (PEKK) and specialty phthalic anhydride, which are both used in carbon fiber composites for the aerospace industry, implants for the human body, and high-performance small electronics components.

We are moving toward a circular economy system so decomposed plastic wastes can be recycled into naphtha, the raw material for petrochemical products, through carbon dioxide conversion. Our rPE material, made from recycled polyethylene sourced from waste plastic, has earned GRS certification, demonstrating our commitment to eco-friendly materials. This is part of our commitment to building a better environment for a better future. We established the Hydrogen Technology R&D Center to secure core technologies to respond to climate change and advance the net zero initiative. Through collaborative efforts with research institutes at home and abroad, we are focused on developing commercial hydrogen production via water electrolysis. We are now poised to become a leading global company in the hydrogen energy market.

We’re also aiding in the commercialization of our hydrogen fuel cell technology by developing a hydrogen tank that uses an ultra-light composite material made of carbon fiber wrapped in high-strength plastic liner. Our specialized lightweight composite material technology offers manufacturing advantages, from small hydrogen tanks for drones to extra-large tanks for hydrogen transportation and storage. In addition, we have accelerated the expansion of our hydrogen business through the acquisition of Cimarron, a U.S. startup that possesses the world’s best high-pressure tank technology.

Hanwha Solutions Chemical Division is strategically providing materials and solutions to help solve the issues we face today. We aim to build a diversified and sustainable business structure to work toward this goal. While sharpening our competitive edge by advancing the petrochemical business, we will actively respond to paradigm shifts, such as the move toward carbon neutrality, as we develop next-generation businesses for energy storage and efficiency, as well as electrical, electronic, and functional materials.