“越卖越亏”，韩国担忧“石化危机”

Group 1 - The South Korean petrochemical industry is facing its most severe survival crisis in recent years, with major companies experiencing significant financial losses and liquidity issues [1][2] - Lichuan NCC, a leading ethylene producer, has accumulated losses of 820 billion KRW since 2022 and is at risk of defaulting on a 310 billion KRW loan if not repaid by the deadline [1][2] - The four major South Korean petrochemical companies reported a combined loss of 878.4 billion KRW last year and are projected to incur further losses this year, with predictions that only 50% of companies may survive if the current downturn continues [2] Group 2 - The crisis is attributed to structural competitiveness decline rather than cyclical downturns, with South Korean ethylene production costs being significantly higher than those in resource-rich regions [2] - The industry is experiencing a "sell at a loss" situation, with prices of Middle Eastern and Chinese products being substantially lower than South Korean products [2] - The petrochemical sector supports approximately 400,000 jobs, and the failure of major companies could severely impact the local economy and supply chains [2][3] Group 3 - In response to the crisis, several companies are reducing production or divesting non-core assets to maintain cash flow, with 10 factories in Ulsan shutting down or closing in the past year [3] - The South Korean government is urged to intervene to support the industry, with proposals for corporate consolidation and industrial upgrades to prevent systemic economic decline [3] - The Ministry of Trade, Industry and Energy is accelerating support measures, including a financial package of approximately 3 trillion KRW to assist in restructuring and transformation efforts [3]