Kolon Plastics being Rebranded as Kolon ENP

“We will present new possibilities of sustainability for customers, products and the environment”

1. ▷ Leaping beyond the limits of the word ‘plastic’ to become an advanced materials company for the future
2. ▷ The new corporate brand is to be confirmed at the shareholders’ meeting on the 29th

With an eye on the future, Korea Plastics, a specialist company for industrial engineering plastics, is changing its name to Kolon ENP. On the 14^th, Kolon Plastics revealed that it would propose changes to the articles of incorporation including a corporate name change at the general shareholders meeting to be held on the 29th. The name change to Kolon ENP will be finalized following shareholders’ approval.

ENP in the new name stands for Empowering, New and Possibilities. It reflects the company’s vision to create new possibilities for a sustainable future through the development of cutting-edge technologies.

“By adding sustainability to our products based on eco-friendly technologies, we intend to contribute to building a circular economic ecosystem and provide best solutions for our customers for mutual growth,” said a representative from Kolon Plastics.

Through the name change, the company aims to go beyond the bounds of the word ‘plastic’ and move forward as a high-tech materials company. The engineering plastics produced by Kolon Plastics are not everyday disposables, but are deployed for industrial purposes. By replacing commonly-used metals, these high-performance products contribute to the protection of the environment.

The company was established in 1996 under the name of KTP in a joint venture with Toray, and changed its name to Kolon Plastics in 2008 when the joint venture was dissolved. Since then, the company has continued to grow by expanding into high value-added markets overseas via large global customers, and upgrading its product portfolio to include the development of high-performance materials for next-generation mobility and high value-added products for medical applications. Building on its accumulated competitiveness, Kolon Plastics achieved KRW 500 billion in revenues in 2022 – the highest level since its establishment, and posted a solid operating profit of KRW 33.8 billion last year, despite the global economic downturn.

In recent years, Kolon Plastics have been focusing on strengthening their market competitiveness through sustainable management strategies, such as building a supply chain for eco-friendly materials using waste-based raw materials and securing clean raw materials to develop carbon-neutral or low-carbon products.

CEO Heo Sung said, “Sustainability is a key strategy to strengthen our competitiveness. This year, we plan to implement practical ESG management, including the publication of the Sustainable Management Report and the launch of an eco-friendly product brand (ECHO). He further added, “Through these initiatives, we intend to serve as an eco-friendly total solution partner which contributes to building a sustainable future for society and humankind for generations to come.”