Seoul, September 23, 2025 — South Korea’s Fair Trade Commission (FTC) convened a high-level meeting with the country’s ten largest petrochemical companies to discuss ways to accelerate merger reviews amid a sweeping industry restructuring effort.
The roundtable, held at the Korea Fair Trade Mediation Agency in Seoul, was chaired by FTC Chairman Joo Byung-ki. It focused on creating a direct communication channel (hotline) between regulators and industry players ahead of a wave of expected merger filings, including the establishment of joint ventures.
The FTC stated that it organized the session to address industry concerns about merger review procedures and to ensure that restructuring plans—mandated under an industry-wide self-regulation agreement signed on August 20—are not hindered by lengthy approval timelines. Petrochemical companies are due to submit detailed restructuring plans by year-end.
At the meeting, the FTC pledged to take into account the urgency of corporate restructuring in the sector and promised that once companies submit merger notifications, the agency will “review them as swiftly as possible.”
The regulator emphasized that it shares industry views on the necessity of restructuring and will allocate its resources to prioritize merger cases involving firms that are making serious, responsible efforts to reorganize. The goal, officials said, is to help companies reduce uncertainty early and stabilize operations during a period of market transition.
