Recently, according to South Korea’s “Daily Business News” quoted industry sources, LG Chemical has suspended the operation of its PBAT (polyadipate/butylene terephthalate) plant in Oyama, and began to redeploy staff. The company originally planned to start pilot production in 2024 and officially launch mass production in 2025. However, due to profitability concerns, LG Chem decided to postpone the mass production plan of the plant indefinitely. “Although the mass production of PBAT has been delayed, the related business has not been terminated,” an LG Chem official said. “This is one of the strategic adjustments the company is making to respond to market changes and optimize the efficiency of its product portfolio,” he further explained. LG Chem will invest 210 billion won in 2021 to start construction of a PBAT plant with an annual capacity of 50,000 tons. The postponement of the mass production plan reflects the company’s careful consideration of the…