Seoul/Dubai, November 2025 – South Korea’s Lotte Chemical has agreed to sell a 75% stake in its Pakistani subsidiary to UAE-based PTA Global Holding for 98 billion won ($68.94 million), according to Reuters.

Key points:

• Lotte Chemical Pakistan is the country’s sole producer of purified terephthalic acid (PTA), producing over 500,000 tons annually.
• Following the sale, Adnan Afridi was appointed CEO and announced plans for aggressive growth through mergers and acquisitions to diversify and scale operations.
• The move is part of a government-backed restructuring program supporting unprofitable petrochemical firms facing low demand and oversupply.
• Globally, Lotte Chemical is a major producer of synthetic resins and other industrial chemicals. Its Malaysian subsidiary, Lotte Chemical Titan, recently launched a new ethylene production complex in Indonesia.