Unrivaled Logistics Make Louisiana a Natural Fit for South Korean Companies
Recent investments by South Korean companies Lotte Chemical and Dongsung FineTec – combined with long-term investments by the Korea National Oil Corp. – have made ties between South Korea and Louisiana stronger than ever before.
Notable South Korean Investment in Louisiana
- Dongsung FineTec – Cryogenic insulation manufacturing facility, $5 million capital investment
- Lotte Chemical – LACC LLC, a joint venture of Lotte Chemical and Axiall Corp., will build a $1.9 billion ethane cracker complex near Axiall’s existing manufacturing plants in Calcasieu Parish. Using a portion of ethylene produced by that plant, Lotte Chemical will produce monoethylene glycol at a $1.1 billion plant constructed beside the ethane cracker.
Trade Between South Korea and Louisiana
| Exports to South Korea | |
|---|---|
| Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax | $3.8 billion |
| Milling Products; Malt; Starch; Inulin; Wht Gluten | $412.4 million |
| Organic Chemicals | $396.6 million |
| Animal, Vegetable Or Microbial Fats And Oils Etc | $143.7 million |
| Plastics And Articles Thereof | $35.4 million |
| Miscellaneous Chemical Products | $29.7 million |
| Rubber And Articles Thereof | $25.7 million |
| Beverages, Spirits And Vinegar | $20.1 million |
| Paper & Paperboard & Articles (inc Papr Pulp Artl) | $6.8 million |
| Copper And Articles Thereof | $6.7 million |
| TOTAL | $4.8 BILLION |
| Imports from South Korea | |
|---|---|
| Vehicles, Except Railway Or Tramway, And Parts Etc | $403 million |
| Iron And Steel | $364.9 million |
| Organic Chemicals | $240.1 million |
| Lead And Articles Thereof | $109 million |
| Zinc And Articles Thereof | $72 million |
| Mineral Fuel, Oil Etc.; Bitumin Subst; Mineral Wax | $43.5 million |
| Nuclear Reactors, Boilers, Machinery Etc.; Parts | $40 million |
| Plastics And Articles Thereof | $31.4 million |
| Articles Of Iron Or Steel | $15.6 million |
| Inorg Chem; Prec & Rare-earth Met & Radioact Compd | $10.6 million |
| TOTAL | $1.3 BILLION |
Cultural Ties and Resources
Louisiana State University (LSU) offers an international exchange program with Korea University, Seoul. LSU has also established a Korean Student Association in order to promote Korean culture around the campus.