Petrochemical Industries, a chemical fertilizer, completed the $1.2bn acquisition of 48% stake in the chemical business of SKC, a chemical manufacturing company. “We have pursued a shift from oil with a determination for a fundamental change despite so many challenges,” said Lee Jae-wan, president of SKC. Despite concerns over global economic slowdown by the recent COVID-19 outbreak, we will do our best to transform our efforts for innovating business model into a tangible result," SKC. .