Korean companies adjust their export strategies to China to export high value-added and scarce chemical products

China has become a key export market for South Korean chemical companies, driven by the steady growth of its domestic chemical consumption. Over the past few years, the average annual growth rate of chemical product consumption in China has reached 8% to 9%. According to a recent comprehensive report from South Korean media, as China's production of general chemical products continues to rise, Middle Eastern countries are also intensifying their efforts to increase exports to the Chinese market. In response, South Korean chemical firms have introduced two new strategies to strengthen their presence in this growing market: first, shifting their exports toward high-value or specialized chemical products that are either not produced or only minimally produced in China; and second, unifying brand identities to enhance global brand recognition and market impact. Samsung Total Chemical Co., Ltd. is actively exporting water-resistant polyethylene to China, which is used in bottle cap production, as well as non-condensing and translucent agricultural plastic films and high-performance raw materials for automotive exterior parts. The company has offices in Beijing, Shanghai, Shenzhen, and Hong Kong, all dedicated to serving customers across different regions. Samsung aims to transition more of its chemical exports to high-value-added products within the next three years. To achieve this goal, Samsung’s China-focused team adopts a new approach every week, leading to a 30% increase in new customers in China. According to internal data, high-value chemical products exported to China show a 30% higher profit margin compared to standard products. As a result, the company plans to significantly reduce the production of ordinary chemicals this year, with high-value products expected to account for 80% of total output. To support this transformation, Samsung has committed over $600 million for product upgrades and technological improvements. LG Chemical and Hankook Petrochemicals focus on exporting construction materials, interior decoration products, and environmentally friendly chemical solutions to China. Their products stand out due to superior eco-performance, a feature often lacking in many local Chinese chemical manufacturers. With offices in Beijing, Shanghai, Guangzhou, and Shenyang, these companies have been actively promoting green building materials, resulting in continuous sales growth. The share of traditional building chemicals has dropped by over 28%. In addition to product innovation, South Korean chemical firms are also focusing on global branding. LG Chemical recently announced it will stop using the “LG” trademark for its building materials in both domestic and international markets, replacing it with the “Z:IN” brand. Similarly, Samsung Total Chemical and Hankook Petrochemicals are exploring more globally appealing trademarks, with a focus on English-based names. These unified and eye-catching brands make it easier for consumers worldwide to recognize and trust their products.

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