Lotte Chemical Corporation is a chemical company headquartered in Seoul, South Korea.[1] Lotte Chemical is one of the largest chemical companies in the world by revenue.[2] Lotte Chemical manufactures synthetic resins and other chemical products used for various industrial materials.[3]
On November 12, 2025, the ownership and control of LOTTE Chemical Pakistan Limited (PSX: LOTTE), Pakistan's sole producer of purified terephthalic acid (PTA), officially shifted following the completion of a major buyout by PTA Global Holding Limited. The UAE-based entity acquired a controlling stake of approximately 78.74% in the company. This transaction included the purchase of the former parent company, Lotte Chemical Corporation of South Korea's, entire 75.01% shareholding, and an additional 3.73% through a Mandatory Public Offer to minority shareholders. The change in control resulted in a complete overhaul of the company's governance: the entire seven-member board of directors, including Chairman Jo Hyun Kwoun and Chief Executive Young Dae Kim, immediately resigned. They were replaced by a new board, with Imtiaz Ahmed appointed as the new Chairman and Adnan Afridi as the new Chief Executive. This acquisition marks the full exit of Lotte Chemical Corporation from the Pakistani market, concluding its ownership that began in 2009.[4]