韩国评级机构：韩国石化产业重组迫在眉睫

Core Insights - The South Korean petrochemical industry is at a critical restructuring phase due to prolonged economic downturns and overcapacity pressures [1] Industry Overview - The share of common products such as polyethylene (PE) and polypropylene (PP) in the South Korean petrochemical industry is approximately 50%-60% [1] - Ethylene production capacity in South Korea has expanded from 5.89 million tons in 2003 to an expected 10.39 million tons in 2024, with projections of reaching 14.6 million tons by 2026 [1] - Domestic ethylene consumption is around 4.2 million tons, which has been declining in recent years, leading to increasing overcapacity risks [1] Challenges - The large scale of equipment and new investments in the petrochemical industry, along with high costs associated with production halts, pose significant obstacles to restructuring efforts [1]