BASF officially announced on June 8, 2026, that it will close the expandable polystyrene (EPS) production line at its Ulsan production site in South Korea, with related production activities expected to cease completely by mid-June 2026.
The closure is the direct result of a strategic review of BASF global styrenics business, aimed at adjusting the global production footprint and adapting to market changes to further enhance the competitiveness of core businesses. The head of BASF Asia Pacific petrochemicals business stated that the company primary task is to achieve sustainable value creation, and this move fulfills the commitment to adjusting production layout and consolidating long-term competitive advantages.
Prior to this, BASF announced in November 2025 that it would integrate its Asian polytetrahydrofuran business into the Shanghai Caojing site while ceasing production of the same products at Ulsan. The overlapping closures of two Ulsan facilities reflect the severe challenges facing certain Asian market segments, constrained by slowing demand in construction insulation and packaging, high raw material costs, and structural overcapacity in the region.
