Daesan Petrochemical Restructuring Wins Conditional Approval

Panoramic view of the HD Hyundai Oilbank Daesan plant. [Photo courtesy of HD Hyundai Oilbank] The 'Daesan No. 1' business reorganization, which is the first restructuring case in the domestic petrochemical industry driven to a survival crisis by Chinese oversupply, has entered its final stages after receiving conditional approval from the Fair Trade Commission. The large-scale Naphtha Cracking…