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.