SK Chemicals made an official announcement on the 14th that it has decided not to pursue the sale of its pharmaceutical business.

The company said, "Amid the various internal and external variables and a rapidly changing business environment, SK Chemicals has decided to maintain its current business portfolio and pursue stable operation of its business."

Last September, SK Chemicals began negotiations with Glenwood Private Equity, a South Korean private equity firm. At the time, the company formalized the sale, saying, "We are revisiting the sale of the pharmaceutical business unit and have signed a memorandum of understanding to set out the basic details prior to the signing of this ag