Chemical
BASF to shut EPS production at Ulsan site in strategic global restructure
The decision comes as part of BASF’s broader strategic review aimed at streamlining its production footprint and sharpening global competitiveness
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By ICN Bureau | June 10, 2026
BASF has announced it will close its expandable polystyrene (EPS) production assets at its Ulsan Plastics site in South Korea, with operations set to cease by mid-June 2026.
The move marks another step in the company’s ongoing global restructuring of its styrenics business as it responds to shifting market conditions.
The decision comes as part of BASF’s broader strategic review aimed at streamlining its production footprint and sharpening global competitiveness.
“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.”
Despite the shutdown in South Korea, BASF emphasized that it will continue to support customers through the transition period, ensuring steady and reliable supply.
The company also highlighted that its European styrenics operations remain unaffected, underscoring its strong position in the region, backed by a fully backward-integrated production system that supports its global business.
