South Korea
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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.
“Among Korean petrochemical companies, Lotte Chemical is the first to locate a project in the United States; as such, this project represents a significant investment by Lotte Chemical.” 
Lotte Chemical logo (1)
Soo Young Huh, President and CEO


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

USATrade 2022

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

USATrade 2022

LOUISIANA REPRESENTATION IN SOUTH KOREA

Louisiana has a local representative, Young Ho Seo, based in Seoul, South Korea. If you would like to reach him, email [email protected] or call T +82 (2) 508.8768.

CULTURAL TIES AND RESOURCES

Honorary Consul William H. Langenstein, III
1100 Poydras Street, Suite 2300
New Orleans, Louisiana 70163
Tel: (504) 585-7000
[email protected]

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.