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Photo = Lotte Chemical |
[Alpha Biz= Kim Jisun] Lotte Chemical has suspended production of Polyolefin Elastomer (POE), a key material used in solar panel encapsulation, due to worsening market conditions.
According to industry sources on Thursday, the company recently completed the "boxing-up" process for its POE production line at its Yeosu Plant 3 in South Jeolla Province. Boxing-up refers to preserving plant facilities safely in anticipation of a prolonged shutdown.
POE gained attention for its use in protecting solar cells and minimizing power loss, but the market has deteriorated due to a flood of cheaper products from China.
In response to the unfavorable market environment, Lotte Chemical has decided to halt production for the time being and is in the process of reassigning personnel involved in POE operations.
A Lotte Chemical official stated, "A full withdrawal from the POE business has not been decided yet."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
