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POSCO-SK Energy Sign MOU on Coal-based Chemical Business Contents
title POSCO-SK Energy Sign MOU on Coal-based Chemical Business
attachment date 2010-10-25 count 13856
POSCO-SK Energy Sign MOU on Coal-based Chemical Business


- Two leading businesses conduct a feasibility study on joint coal-based chemical business
- Hope to produce high value-added chemical products through convergence between steelmaking and petrochemical industries

POSCO and SK Energy, two large businesses leading the country’s steelmaking and chemical industries, respectively, has teamed up to produce coal-based chemical products. Chairman of POSCO Joon-Yang Chung and President & CEO of SK Energy Ja-Young Koo signed a memorandum of understanding (MOU) on a feasibility study on joint coal-based chemical business at a ceremony held at POSCO Center in Seoul on the 25th.
The feasibility study will focus on possibilities of producing high-end chemical products with the less scarce and expensive coal tar byproducts by going beyond the existing process which produces chemical products out of petroleum.

하단 텍스트 참조

[Chairman of POSCO Joon-Yang Chung (right) and President of SK Energy Ja-Young Koo are shaking hands after signing an MOU.]



Under the MOU, they will conduct a feasibility study on ways to produce and commercialize high-end chemical products utilizing byproducts generated from petrochemical and steelmaking processes.
Using POSCO’s light oil and coal tar as well as SK Energy’s petroleum byproducts, the two companies aim to produce basic chemical products in the first stage and high value-added products such as engineering plastics in the second stage.
The deal is expected to give a boost to expansion and diversification of related companies, establishing a new business model through convergence of the two industries and laying the foundation for a large-scale coal-based chemical business.

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