Namhae Chemical

What Namhae Chemical does

Namhae Chemical (남해화학), founded in 1974 and headquartered in Yeosu-si, South Korea, is a publicly listed (KRX:025860) integrated green chemical manufacturer operating four product segments: (1) fertilizers including rice-specific slow-release lines (올리가 series), horticultural and fruit-tree fertilizers (과수원예), and specialty crop formulations; (2) eco-friendly inputs covering water-soluble fertilizers, soil amendments, organic fertilizers, soil microbial preparations, amino acid products, and drone-compatible fertilizers; (3) basic industrial chemicals—ammonia, industrial urea, sulfuric acid, fuming sulfuric acid, phosphoric acid, hydrofluorosilicic acid, hydrochloric acid, potassium chloride, potassium sulfate, and neutralized gypsum; and (4) petroleum products (gasoline, diesel, kerosene) distributed through company-owned gas stations and the Nonghyup cooperative network.

The company's technology stack is anchored by proprietary fertilizer coatings and patented microbiology rather than digital systems. Granted patents protect a two-microorganism cabbage-specific fertilizer combining Bacillus velezensis (growth promotion) and Paenibacillus polymyxa (disease suppression), while patent application 10-2019-0124029 covers the CE-100 Bacillus velezensis strain used in Super Bio organic-farming preparations. All-coated slow-release technology enables single-application nutrient delivery over the full rice growth cycle, and a country-specific color-coating capability differentiates export SKUs. Manufacturing is concentrated at the Yeosu complex, where on-site ammonia, phosphoric acid, and downstream fertilizer lines are linked by conveyor belt to a dedicated deepwater port capable of berthing 100,000-ton vessels and handling approximately 600,000 tons of fertilizer exports per year.

Commercially, Namhae operates a sales-led model with a hybrid distribution structure: direct sales through company-owned gas stations and an online 1:1 inquiry portal, plus channel/reseller distribution through 69 Nonghyup gas stations and 76 Nonghyup sales outlets for petroleum. Primary customers are Korean farmers cultivating rice, vegetables, fruits, and specialty crops, with general consumers reached through the petroleum network. Pricing is not publicly disclosed; transactions route through the inquiry system. Internationally, the company has been Korea's first fertilizer exporter since 1977 (initial DAP shipment to Iran) and currently ships to Thailand, Vietnam, Philippines, Japan, Australia, and India. The firm employs 501-1,000 staff and partners with provincial agricultural research institutes (e.g., Jeonnam Agricultural Technology Institute) on crop-specific specialty fertilizer development.

Name

Namhae Chemical

Legal name

남해화학 주식회사 (Namhae Chemical Corporation)

Website

https://nhchem.co.kr

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Namhae Chemical is a South Korean manufacturer of fertilizers, eco-friendly agricultural inputs, basic chemicals, and petroleum products. Founded in 1974 and listed on KRX, it serves Korean farmers through agricultural cooperatives and exports to Southeast Asia, Japan, Australia, and India.

Ownership category

akta.pro rank

Product category

Agricultural Fertilizers

NAICS

Fertilizer and Compost Manufacturing (32531), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253), Nitrogenous Fertilizer Manufacturing (325311), Fertilizer (Mixing Only) Manufacturing (325314), Basic Chemical Manufacturing (3251)

SIC

Agricultural Chemicals (2870), Chemicals & Allied Products (2800), Industrial Inorganic Chemicals (2810)

akta.pro primary industry

NPK/Compound & Blended Fertilizers (Granular Blends, Bulk Blending) (AFABABAD)

akta.pro secondary industries

Controlled-Release & Stabilized Fertilizers (Inhibitors/Coatings) (IMAEAEAN), Nitrogen Fertilizers (Ammonia, Urea, UAN, Ammonium Nitrate/Sulfate) (AFABABAA), Liquid Specialty Fertilizers (Suspensions, Solutions, UAN Blends) (AFABACAF), Potash Fertilizers (MOP/SOP) (IMAEAEAC)

Keywords

• Agricultural fertilizers
• Slow-release fertilizers
• Basic industrial chemicals
• Petroleum products distribution
• Soil amendments

Headquarters

HQ city

Gangneung

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Fertilizer Products: Production and sale of various high-quality fertilizers tailored to Korean soil and crops including rice paddy fertilizers, horticulture/fruit tree fertilizers, and specialty fertilizers
2. Eco-friendly Products: Environmentally friendly products for sustainable soil development including soil conditioners, water-soluble fertilizers, organic fertilizers, soil microbial preparations, and amino acid products
3. Chemical Products: Production, import, and sale of basic chemical materials including ammonia, sulfuric acid, hydrochloric acid, phosphoric acid, potassium chloride, and others for industrial and agricultural use
4. Petroleum Products: Operation of company-owned gas stations and supply of petroleum products (gasoline, diesel, kerosene) to nationwide gas stations and dealerships
5. Export Products: Export of fertilizers and chemical products to international markets including Southeast Asia, Japan, Australia, and India through dedicated port facilities

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

Namhae Chemical manufactures and distributes fertilizers (rice paddy, horticulture, fruit tree, specialty crop formulations including slow-release and drone-applicable products), eco-friendly agricultural products (soil amendments, water-soluble fertilizers, organic fertilizers, microbial preparations, amino acid products), basic industrial chemicals (ammonia, sulfuric acid, phosphoric acid, urea, potassium chloride, hydrochloric acid), and petroleum products (gasoline, diesel, kerosene) distributed through company-owned and Nonghyup gas stations.

Product overview

Namhae Chemical is a green chemical company producing fertilizers, eco-friendly agricultural products, chemical materials, and petroleum products. The core product portfolio includes: (1) Fertilizers - rice-specific fertilizers (오래가 series, 슈퍼31, 슈퍼NK820), horticultural/fruit tree fertilizers (슈퍼원예 series, 과수원탑), specialty fertilizers (오래가통통배추, 오래가통통양파, 고구마전용, 슈퍼드론NK), and general balanced fertilizers (트리플10, 쾌청); (2) Eco-friendly products - water-soluble fertilizers (슈퍼솔 series), soil amendments (칼슘유황비료, 부산석고, 유황가리고토), organic fertilizers (왕중왕 series), soil microbial products (슈퍼바이오 A/B), amino acid fertilizers (아미노1268, 아미노생), and drone-applicable fertilizers (슈퍼솔드론 series); (3) Chemical products - industrial ammonia, urea, sulfuric acid, phosphoric acid, potassium chloride, potassium sulfate; (4) Petroleum products - gasoline, diesel, and kerosene distributed through company-owned and agricultural cooperative stations.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Dedicated port handles approximately 600,000 tons of fertilizer exports annually
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Jeonnam Agricultural Technology Institute (전남 농업기술원)coreStrategic or Co-development PartnerJoint development of onion-specific fertilizer (양파 전용 비료) with Jeonnam Agricultural Technology Institute for agricultural work simplification and high-quality onion production. The partnership developed a slow-release fertilizer specifically designed for winter crops like onions and garlic.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Yara International: Yara is the world's largest nitrogen fertilizer producer with a global crop nutrition and digital farming platform; it competes with Namhae in Asian export markets and sets the benchmark for premium specialty fertilizer positioning.
• ICL Group: ICL is a global specialty fertilizer and phosphate producer serving horticulture, fertigation, and specialty agriculture; it competes with Namhae's water-soluble and SOP product lines in Asia and Oceania.
• Mosaic Company: Mosaic is one of the world's largest phosphate and potash producers; its global commodity fertilizer footprint competes with Namhae on price in export markets and provides public-market comparables for valuation.
• LG Chem: LG Chem is Korea's largest chemical company with diverse industrial chemical production; it represents the broader Korean incumbent landscape in which Namhae competes for talent, capital, and downstream industrial customers.

Emerging players

• Sinochem Fertilizer: Sinochem is China's largest fertilizer trader and producer with growing specialty fertilizer activities, competing directly with Namhae in Southeast Asian export markets and across compound NPK and water-soluble product lines.

Direct peers

• Haifa Group: Haifa is a leading specialty plant nutrition company focused on water-soluble fertilizers, controlled-release fertilizers, and foliar applications, directly overlapping with Namhae's Super Sol water-soluble and slow-release portfolios.
• K+S AG: K+S is a global potash and specialty plant nutrition producer with strong European and Asian footprints, directly comparable to Namhae's potassium chloride and potassium sulfate derivative offerings.
• OCI Company: OCI is a Korean-listed producer of nitrogen fertilizers, methanol, and hydrogen products with global export operations, making it the closest domestic peer to Namhae Chemical's compound fertilizer and chemical manufacturing business.
• Compass Minerals: Compass Minerals produces sulfate of potash (SOP) and specialty plant nutrition products for horticulture and turf, comparable to Namhae's potassium sulfate, gypsum, and specialty crop fertilizer offerings.

Regional players

• Lotte Chemical: Lotte Chemical is a major Korean petrochemical producer; while not a fertilizer specialist, its Korean basic chemicals footprint overlaps with Namhae's ammonia, sulfuric acid, and downstream chemical production.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/namhae-chemical-corp

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Namhae Chemical