After more than six months of suspension! LG Chem has restarted its No. 2 cracking unit.

By SKYSEVEN Chemical Technical Team · 2026-10-13

On October 8, LG Chem said in a regulatory filing that Unit 2 of Lishui Naphtha Cracking Center was scheduled to restart on October 12.

Prior to this, due to the interruption of naphtha supply related to the US-Iran conflict, LG Chemical Lishui Naphtha Cracking Center Unit 2 has been suspended since March 23. At present, the shutdown of the mechanism has been greater than six months. The unit has annual sales of 2.49 trillion won, accounting to 5.09 percent of LG Group's revenue.

LG Chem said it plans to "resume operations as soon as feedstock supply stabilizes" and minimize production and sales disruptions.

The plant includes an annual output of about 800000 tons of ethylene and 400000 tons of propylene. After the shutdown, it affected the supply of raw materials to a number of derivatives such as downstream PE and PP.

Meanwhile, LG Chem and five other petrochemical producers were indicted on Oct. 1 on charges of conspiracy to rig prices and bid on eight items, including polyvinyl chloride (PVC), plasticizers, caustic soda and hydrochloric acid.

The Central District Prosecutor's Office in Seoul, South Korea, announced the indictment on October 1. LG Chem declined to comment on the allegations, citing the ongoing investigation.

Prosecutors allege that between January 2021 and April 2026, the companies coordinated the timing and scale of price increases and pre-determined the winning bidder and bid price in major customer tenders.

The alleged illegal transactions reportedly involved sales worth 16.4 trillion won, making it the largest cartel case ever pursued by South Korean prosecutors.

The criminal proceedings are separate from the ongoing administrative investigation by the Korean Fair Trade Commission (FTC). The FTC began on-site inspections in might of cases involving LG Chem and other producers suspected of involvement in the price coordination of PVC and plasticizers.

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