Daesan Petrochemical Complex Faces Economic Hardship In South Korea

Tax revenue at the Daesan Industrial Complex has dropped to one-tenth of previous levels. The average factory operation rate fell to 74% last year, the lowest among South Korea's three largest petrochemical complexes. Chungnam Province has initiated emergency support of 500,000 won per person for 5,000 workers and freight transporters in the area. Local representatives are calling for the complex to be redesignated as a national industrial complex to secure government-led structural improvements. Residents of Daesan-eup in Seosan, South Chungcheong Province, are demanding the Daesan Industrial Complex be reclassified as a national industrial complex. The community is facing long-term economic stagnation and a decline in workers due to the aftermath of the war in Ukraine. Local authorities have provided emergency support of 500,000 won per person to approximately 5,000 people, including casualties, but residents say this is insufficient to address the crisis. They are calling for large-scale government policies to improve the industrial structure of the region.