Korea Petro Chemical IND swings to second-quarter operating loss

Korea Petro Chemical IND said Thursday it recorded an operating loss of 3.88 billion won ($2.71 million) in the second quarter, swinging from a profit in the previous period even as revenue rose 12.9 percent.

Net income for the April-June period fell into the red at 1.47 billion won ($1.03 million), while sales reached 956 billion won ($669 million). The shift marks a reversal from the first quarter, when the company posted an operating profit of 73.6 billion won ($51.5 million).

For the first half of 2026, the firm maintained overall profitability with cumulative operating profit of 69.7 billion won ($48.7 million). Half-year revenue grew 13.5 percent to 1.8 trillion won ($1.26 billion). Cumulative net income attributable to owners of the parent stood at 46.4 billion won ($32.4 million) through June.

The company produces ethylene and propylene from naphtha, along with polymers such as PP and HDPE used in battery separators, films, pipes, wires, containers and home appliances. It is pursuing research and development focused on high-purity PP, functional compound resins, raw materials for lithium-ion battery separators and quality improvements for PE pipe products.