Lotte Chemical

Lotte Chemical is a prominent South Korean chemical company and a core affiliate of the Lotte Group. While historically focused on petrochemicals and advanced materials, the company has aggressively entered the life sciences industry through its subsidiary, Lotte Biologics. This strategic shift was highlighted by the 2022 acquisition of a large-scale biologics manufacturing site in Syracuse, New York, from Bristol Myers Squibb. The company now provides comprehensive contract development and manufacturing organization (CDMO) services, specializing in monoclonal antibodies and other biologics. Additionally, Lotte Chemical develops high-performance polymers and materials specifically designed for medical devices and pharmaceutical packaging. With plans to build a massive "Mega Plant" in Songdo, South Korea, the company aims to become a top-tier global player in the biotechnology manufacturing sector by 2030.