Since 1 January 2007, LANXESS has been conducting its business in South Korea through its own legal entity. LANXESS's business in Korea had previously been run through an agency contract with Bayer Korea Ltd.

Asia is LANXESS’ most important growth market and South Korea is one of the strong growth economies in Asia.  As part of the “LANXESS goes Asia” strategy, South Korea is increasingly becoming an important market to LANXESS. The establishment of LANXESS Korea as an independent legal entity is another milestone in our efforts to increase profitable growth in Asia.

In 2007, LANXESS Korea grew its sales by 13.8% (sales adjusted for portfolio and currency effects) compared to 2006.

LANXESS Korea supplies its products mainly to the tire, automobile, chemical synthesis industry and the electronics and electrical manufacturing industries. It holds a leading market position in supplying butyl rubber to the tire industry in Korea.

LANXESS Korea is a reliable and innovative partner for the tire industry in Korea.  In May 2007, LANXESS’ Performance Butadiene Rubber business unit and Hankook Tire put their cooperation on a firm footing with the conclusion of a long-term supply contract. In the next five years LANXESS will supply solution SBR and polybutadiene rubber to Hankook Tire.