A c t i o n | Asia Chemicals Industry Restructuring Taking Shape – Korea vs. China CITI'S TAKE 20 Aug 2025 17:04:41 ET │ 22 pages Reuters reported (20 Aug, link) that 10 Korean chem companies agreed to reduce naphtha cracking (NCC) capacity by ~2.7-3.7mt, representing ~21- 29% of 12.8mt total. The government expects companies to submit a plan to implement the cuts by end-2025. While the exact closures have yet to be determined, we expect this could raise industry utilisation to ~95-100% (current: ~75%; Figu ...