Home / Knowledge / News / Textiles / S Korea urges petrochemical firms to diversify portfolios

S Korea urges petrochemical firms to diversify portfolios

15
Jan '19
S Korea urges petrochemical firms to diversify portfolios
The ministry of trade, industry and energy in South Korea recently urged domestic petrochemical firms to diversify their portfolios to cope with the anticipated slowdown in the industry and overcome protectionism. After excellent show in the last three years, the petrochemical industry is likely to experience a downturn, the ministry said.

The slowdown may be due to global trade disputes and the expanding supply from North America, it said.

The government will, however, make efforts to support the growth of domestic petrochemical firms, according to a news agency report.

Domestic players should ease their dependency on naphtha, a key industrial base material, and set eyes on other materials, the ministry said. As naphtha is made from crude oil, it is vulnerable to fluctuations in global oil prices.

Companies should take pre-emptive steps to prepare for the hydrogen economy and seek ways to expand investment and find new opportunities in the segment. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: PIB

Textiles | On 20th Feb 2019

India seeks stakeholder inputs on draft logistics policy

The Indian ministry of commerce has drafted a National Logistics...

Pic: Tim Savage from Pexels

Textiles | On 20th Feb 2019

Global knitted fabrics market to see swift growth: study

There demand for knitted fabrics is rising globally as several big...

Pic: Nouryon

Textiles | On 20th Feb 2019

Nouryon carbon technology helps Indonesian fibre producer

Nouryon has licensed its state-of-the-art carbon disulfide (CS2)...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search