Hong Kong SAR, China – June 8, 2026 – BASF has decided to close its expandable polystyrene (EPS) production assets at the Ulsan Plastics site in South Korea. The cessation of production operations is targeted for mid‑June 2026.
This decision is part of BASF’s ongoing strategic review and efforts to optimize its global styrenics production setup and enhance competitiveness in response to evolving market conditions.
“Our priority is sustainable value creation. This decision reflects our commitment to proactively align our production footprint with market realities and reinforce our long-term competitiveness,” said Bir Darbar Mehta, Senior Vice President, Petrochemicals Asia Pacific at BASF. “We will continue to evaluate optimization opportunities and focus on assets that provide the strongest strategic advantage.”
BASF remains committed to supporting its customers during the transition and ensuring reliable and continuous supply. The company has a strong market position in Europe, supported by its fully backward‑integrated production setup, which provides a solid foundation for its global styrenics business. BASF's European styrenics operations are not affected by the closure of the EPS production in South Korea.