K-Chemicals Compete on High Value-Added Systems

The Korean government has presented a roadmap to elevate the petrochemical industry to a global top-four position through high value-added. Currently, Korea ranks fifth in the high value-added chemicals industry, following China, the USA, Japan, and Germany. The government aims to surpass Germany and rise to fourth position.

The Ministry of Trade, Industry and Energy announced the 2030 K-Chemical Next-Generation Technology Innovation Roadmap, which aims to achieve high value-added, eco-friendly, and strengthened compliance with global environmental regulations. This Roadmap outlines the following key objectives:
First, the government plans to increase the high value-added ratio of core materials in seven key industrial sectors. The plan is to increase the proportion from 30% this year to 40% by 2030 and 45% by 2035. As a priority, it will advance synthesis and processing technologies. To comply with global chemical regulations, it will also expedite the development of alternatives. The number of alternatives, currently developed at 12 this year, is expected to increase to 100 by 2030 and 150 by 2035.
Secondly, it will invest in eco-friendly transitions to reduce carbon emissions. The petrochemicals industry is expected to reduce greenhouse gas emissions by 270,000 tons this year through eco-friendly transitions. It plans to increase reduction of carbon emissions to 1,030,000 tons by 2030. To achieve this, investments will be made in technologies to convert biomass-based raw materials and recycle or reuse waste plastics.
The way in which it plans to achieve this goal is through the ‘chemical industry innovation alliance,’ formed by ‘anchor companies (leading companies)’ and major chemical companies. The alliance will be organized into nine sectors, namely: semiconductors; displays; future vehicles; secondary batteries; aerospace and defense; electronics and communications; advanced platform polymers; eco-friendliness, and regulatory response.

  
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