Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Oil Prices Rise as U.S.-Iran Talks Keep Geopolitical Risks in Focus 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Hanhwa Solutions and Daelim Industrial Co. Ltd. have decided to part ways after being partners for more than two decades, 23 years to be exact. They have set up the YEOCHUN NCC Co., Ltd. chemicals company in 1999 through a joint venture, and with the end of their collaboration, the YNCC will also be divided.
According to The Korea Economic Daily, business analysts said that Hanhwa Solutions and Daelim Industrial Co. were pushed to go on their separate ways due to many reasons including the worsening profitability and the petrochem plant explosion that killed four in February this year.
Hanhwa and DL Chemical’s Yeochun NCC business has become a top petrochemical producer in South Korea, owing to the good management and cooperation of the companies. However, both parties agreed that it is time to end their joint venture.
The two are now in discussions on how they will split up their naphtha cracking facilities since it is a 50:50 JV between Hanwha Solutions Corp. and DL Chemical Co. YNCC is operating four naphtha cracking factories inside the industrial complex located in Yeosu which is around 340 kilometer from the southwestern part of Seoul.
The plants crack naphtha, which is a feedstock for different petrochemical products. With the cracking, YNCC produces basic raw materials, including ethylene, propylene, and butadiene, which are then supplied for production at DL Chemical and Hanhwa Group of companies.
The joint venture’s No. 1 to No. 3 plants have a combined capacity of producing 2.29 million tons of various petrochemical products like benzene, xylene, and toluene. On the other hand, the company’s fourth factory is a place where styrene monomer (SM) and methyl tertiary butyl ether (MTBE) are being manufactured.
Meanwhile, YNCC is being led by two chief executive officers coming from Hanwha Solutions and DL Chemical. Sources in the business sector said that the companies are planning to split their chemical JV through a spin-off method where YNCC will distribute the shares of two new companies after the split, to its existing shareholders based on a pro-rata basis.
“We are considering various ways to promote Yeochun NCC’s continued growth over the long term,” a company official at YNCC said in a statement.
