Li Fanrong, chairman of China’s state-run chemical giant Sinochem Holdings, will visit Korea for the Asia-Pacific Economic Cooperation CEO Summit 2025 held in Gyeongju, North Gyeongsang Province, from October 28 to 31.
The leader of the world’s largest chemical company will join around 1,700 top executives from leading global companies and leaders from 16 APEC member economies at the four-day event.
Li, born in 1963 in Jiangxi province, China, is a seasoned expert in the energy and petrochemical sectors.
Before taking on his current role in 2022, he served as deputy director general of China's National Energy Administration, and as a vice president at China National Offshore Oil Corporation, which is one of China’s “Big Three” state-owned oil companies specializing in offshore oil and gas exploration and production.
He also visited Korea in 2019 as part of a Chinese delegation to the International Conference on Hydrogen, hosted by the Ministry of Foreign Affairs and the Ministry of Trade, Industry and Energy. During the visit, he emphasized international collaboration in hydrogen technology.
Sinochem Holdings is a conglomerate with businesses spanning petrochemicals, pesticides and fertilizers, real estate and battery materials. According to Fortune, it ranks as China’s 15th-largest conglomerate by sales, recording $143.2 billion in revenue in 2023.
The chemical giant has steadily expanded its influence in the global market, holding a 37 percent stake in Italian premium tire maker Pirelli, a controlling stake in Swiss agrochemical company Syngenta Group and a network of subsidiaries across multiple continents. Li Fanrong also serves as chairman of Syngenta Group.
Sinochem has had past involvement with Korean businesses, including attempts to merge with Korea’s Inchon Oil Refinery, now SK Incheon Petrochemical, in the mid-2000s. Currently, however, the company has no active presence in the Korean industry.
While global business leaders are expected to seek partnerships during this rare opportunity for face-to-face meetings, local media reports suggest that Chairman Li may explore collaboration with Korean companies to develop high-value-added products, aiming to mitigate business challenges arising from oversupply in China’s petrochemical sector.
forestjs@heraldcorp.com
