# Lotte-Hyundai finalize joint venture, slashing Daesan capacity

Lotte Chemical and Hyundai Chemical finalized a joint venture ahead of a September 2026 launch, involving capacity rationalization at the Daesan plant to reduce naphtha consumption and operational losses.

- Type: Acquisition
- Announced: 2026-07-31
- Where: Daesan, South Korea
- Status: announced
- Products: petrochemicals
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Lotte Chemical](https://endata.com/companies/2025.md) (partner)
- [Hyundai Chemical](https://endata.com/companies/41774.md) (partner)

## Sources

- [commoplast.com](https://www.commoplast.com/news/details/19653/English/), 2026-07-31: "At the core of the merger is a drastic capacity rationalization designed to eliminate internal competition, reduce expensive naphtha consumption, and stem operational losses."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.