Hanwha Chief Goes to Jail

Kim Seung-youn, the chairman of Hanwha Group (Seoul), has been sentenced to 18 months in jail after being convicted of assault by a Korean court. The prison sentence could complicate the previously announced plans of Hanwha Chemical, a Hanwha subsidiary, to form an olefins and derivatives joint venture in Saudi Arabia, sources say (CW, June 27, p. 5). Hanwha is expected to become Saudi International Petrochemical Co.’s (Sipchem) minority partner in an $8-billion project to build a 1.3-million m.t./year gas cracker and downstream plants at Al Jubail,Saudi...

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