A large-size petrochemical complex, built by Lotte Chemical, went into operation. Lotte Chemical held a ceremony to dedicate a plant, dubbed “Lotte Chemical New Ethylene (LINE),” in Cilegon on the island of Java in Indonesia on Nov. 6.
The event was attended by some 300 people, including Chmn. Shin Dong-bin of Lotte Group, Indonesian President Prabowo Subianto, and Lotte Chemical CEO Lee Young-joon.
In his commemorative speech, Chmn. Shin said, “This project is one of large-scale investments by Korean companies in Indonesia, and it not only symbolizes strong and cooperative relations between the two countries, but also serves as a significant foundation to strengthen the Indonesian petrochemical industry and national competitiveness.”
Indonesian President Prabowo reciprocated by saying that Lotte will be a good precedent of investment into Indonesia.
The plant was dedicated in three years from 2022 by pouring $3.95 billion (5.7 trillion won).
The plant, built on a site covering 110 ha, produces a variety of petrochemical products, including 1 million tons of ethylene, 520,000 tons of propylene, 350,000 tons of polypropylene, 140,000 tons of butadiene and 400,000 tons of benzene, toluene and xylene per annum. Its annual sales stand at an estimated $2.06 trillion (3 trillion won).
Lotte is expected to have vertical integration with the nearby LOTTE Chemical Titan Nusantara (LCTN), capable of producing 450,000 tons of polyethene annually.
To Indonesia, the latest project is a win-win one. The Lotte plant plans to supply 70 percent of its petrochemical products to Indonesia. Indonesia is expected to raise the self-sufficiency ratio of ethylene from current 44 percent to up to 90 percent by lowering imports.
Chmn. Shin invested big in Indonesia with which Korea struck a Comprehensive Economic Partnership Agreement (CEPA) in 2019. He conducted a civilian diplomacy by heading a private sector economic delegation comprising of Samsung, SK, Hyundai Motor, POSCO and Hanwha in April 2025.
Lotte Chemical’s overseas business portion stood at 68 percent last year. By region, the Asia-Pacific region showed 25 percent, the biggest share.
Lotte Group plans to build a “Southeast Asian petrochemical hub” by expanding production operations to Malaysia and Vietnam on top of Indonesia.
Lotte Wellfood Likely to See Brand ‘Pepero’ Chalk Best-Ever Annual Sales
Lotte Wellfood is predicted to see the brand “Pepero” post the best-ever annual sales this year. Amid the steady demand, the good business performance of the brand is analyzed to be owed to growth momentum on the back of the spreading of the “Pepero Day” culture to the global market.
Lotte Wellfood said on Nov. 11 the company is forecast to log some 241.5 billion won in annual sales. In particular, exports are predicted to surge to 90 billion won, about 30 percent year-year jump over last year’s 70.1 billion won.
Pepero, which made its debut in 1983, is a chocolate-covered pretzel stick. Pepero is a steady seller, beloved by people for more than 40 years. Its cumulative sales amounted to 2.15 trillion won, the company said.
The cumulative sales are translated into approximately 3.7 billion packs of the brand’s representative product “Choco Pepero.”
If they are lined up, they can calculate some 600,000 km, an equivalent to a distance of circulating the Earth more than 15 times.
Pepero was selected as the first global mega brand at an integrated strategy meeting of Korean and Japanese Lotte food subsidiaries, which took place in Warsaw, Poland, in September 2024.
At that time, Lotte Group Chmn. Shin told the meeting to nurture Pepero into a mega brand worth 1 trillion won in overseas sales through close cooperation between Korea Lotte and Japan Lotte.
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