SEOUL, December 21, 2018 – Ulsan PP Co., Ltd. and SK Engineering & Construction announced today that they have signed an EPC Contract to construct a new 400,000 ton/year polypropylene plant in the southeastern port city of Ulsan, South Korea. Construction will begin in 2019 and the plant will commence production operations in the first half of 2021.

“This project marks a key milestone for our newly formed company” said Joe Hoinkis, CEO of Ulsan PP. “We are very pleased to enter into this agreement with SK Engineering & Construction who have a strong and long standing reputation for EPC work in the Ulsan area, South Korea and the world.”

According to SKEC official, “The feedstock of this project is propylene, a product from adjacent PDH (Propane De-Hydrogenation) plant which was successfully executed by SKEC.”

Also he stated that SKEC looks forward to executing EPC business by completing Value Chain of C3 derivatives such as “PDH and PP”.

The new polypropylene plant will be one of the largest of its kind in Asia and will utilize LyondellBasell's industry-leading Spheripol technology. Polypropylene manufactured at this new facility will be sold to customers in South Korea and exported throughout Asia and the world for use in automotive components, injection molding, blow molding and packaging film. Some of the polypropylene will also be sold to compounding companies in South Korea and the broader region.

About Ulsan PP

Ulsan PP Co., Ltd. is a joint venture between SK Advanced and PolyMirae, both of which are well respected companies in South Korea and the region.

The 38th Petrochemical Plant Safety Technology Improvement Workshop and Technology Seminar, hosted by Korea Gas Safety Corporation, took place on November 29th in Jecheon, Chungcheongbuk-do.

At the Workshop, PolyMirae presented its best practice cases.

For the last five years, PolyMirae has been conducting both FSS (Facility Siting Study) and QRA (Qualitative Risk Analysis) activities with the support of LyondellBasell, our parent company, and BakerRisk, a U.S. risk assessment company.

PolyMirae will continue to remain available, also in the future, to present and share best practices within the Yeosu Industrial Complex.

As of 24:00, October 30th, 2018, PolyMirae achieved the outstanding record of 2,400 days without accidents.

This remarkable achievement was made possible thanks to the contribution of all staff of PolyMirae and of all contractors working on-site.

PolyMirae has achieved this milestone with all staff always considering safety on-site, as the first priority and principle of action.

PolyMirae Manufacturing Director KY Yoon was awarded the Government Industrial Service Medal at the 25th Korea Gas Safety Awards ceremony, which took place on July 6th in Seoul at the 63 Building, in Yeouido.

The Industrial Service Medal is awarded to those who have contributed to industrial development and growth, or rendered outstanding meritorious services.

“This award is an acknowledgement to the efforts and to the contributions of all our employees working at PolyMirae Yeosu site” says KY Yoon.

SEOUL, South Korea, June 25, 2018 – PolyMirae Company Ltd. and SK Advanced today announced they are forming a joint venture to expand PolyMirae’s capacity with a new 400,000 tons/year polypropylene plant in Ulsan, South Korea.

The new manufacturing joint venture expects to begin construction on the plant in January 2019 and begin production in 2021. The new plant will use Spheripol polypropylene technology licensed by LyondellBasell and will be supplied with propylene from the nearby SK Advanced’s Propane Dehydrogenation (PDH) plant. The project will go through the relevant regulatory filing and permitting reviews soon.

“We are grateful for the opportunity to partner with SK Advanced, given the exceptional operational reliability of their PDH plant,” said Martino Gabellich, CEO of PolyMirae. “We are going to use the additional polypropylene volume produced by the joint venture to further support and expand our customer portfolio in the automotive, packaging, textile and consumer segments.”

“PolyMirae is an excellent partner in the joint venture because it has a leading reputation in the PP market for its specialty products as well as longstanding excellence in manufacturing and marketing” said Chul-Jin Kim, CEO of SK Advanced. “With successful integration of value chain from propane to polypropylene business through JV partnerships, SK Advanced will secure a stable outlet for propylene and further strengthen competitiveness of its gas chemical business which its mother company, SK Gas has been expanding from its LPG base.”

PolyMirae is a 50 / 50 joint venture between LyondellBasell and Daelim, and currently operates four PP Spheripol production lines in Yeosu with a total capacity of 700,000 tons/year.

SK Advanced is a joint venture among SK Gas, Advanced Petrochemical Company and Petrochemical Industries Company, and operates a propane dehydrogenation plant in Ulsan with a capacity of 600,000 tons/year.

About PolyMirae

PolyMirae is a joint venture between Daelim and LyondellBasell Industries, both of which are well respected companies worldwide, and is a leading polypropylene production company in Korea. With Daelim's outstanding accumulated on-site operational experienceand LyondellBasell's core technologies and worldwide sales network, PolyMirae was founded on September, 2000 in order to produce and supply the best polypropylene in Asia.

About SK Advanced

SK Advanced is propylene production/sales company, established in September, 2014 through a spin-off from SK Gas. Located in Ulsan, South Korea, its PDH plant produces 600 K ton/year of production capacity. The plant started commercial operation in April 2016, and performs at a high operation rate, by applying newest CB&I technology.

This year’s event has been focusing on the theme “IT’S IN MY HANDS”.

The program included a contest for employees, to discover certain areas of the current safety procedures which require improvement and suggest alternatives, as well a contest for subcontractors to submit work plans and risk assessment reports for evaluation.

Two companies , Youngjin Technics and Pacific Machine and Technology, were each awarded gold and silver medal, in the respective order, at the subcontractor contest.

For crisis management and response training, on-site response drills took place , including a firefighting drill and a rescue & emergency medical service (EMS) training.