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KOLON Group Conducte...
Kolon Group is conducting a campaign to "donate blood and take a vacation" to support stable blood supply ahead of the full-fledged vacation season. It will be held sequentially from July. 22 to Aug. 2 at Kolon One&Only Tower in Magok-dong, Seoul, and nine other workplaces across the country, including Gangnam, Gumi, Gwacheon and Songdo.
KOLON Group Announce...
▷ The management policy for 2019 reflects KOLON Group’s will to take on challenges for success like a super baby with unlimited possibilities.
▷ The management policy for 2019 emphasizes the need to expand Cross-Functional Communication (CFC), a communication culture unique to KOLON Group, and promotes planning with precision, timely execution, and innovative ways of doing business.
▷ The New Year’s message was announced under the name of the One & Only Committee as Chairman Lee Woong-yeul resigned last year.
○ KOLON Group held a Group-wide kick-off meeting for the year on the 2nd at KOLON One & Only Tower in Magok-dong with CEOs and employees at the team head level and higher present. It is the first kick-off meeting for the year organized by the One & Only Committee, a consultative body of major affiliate CEOs created in the wake of Chairman Lee Woong-yeul’s resignation at the end of last year.
○ KOLON Group declared “RE;BIRTH 2019” as its management policy for this year in the New Year’s message released by the One & Only Committee. “RE;BIRTH 2019” reflects KOLON Group’s commitment to pursuing change as if being born again and taking another leap forward towards success. The Committee said in the New Year’s message, “We need to meditate on Chairman Lee’s determination to resign last year to bring true change. We must transform ourselves to build a stronger, forward-marching KOLON through drastic innovation.” The New Year’s message was read by Vice Chairman Ahn Byung-deok as the representative of the Committee.
○ The Committee announced its plan to coordinate management issues of different subsidiaries, propose the directions for growth, and seek ways to make bold investments for a brighter future. It also emphasized that it would deliver optimal solutions to help the Group reap desired results centering on the holding company.
○ The Committee proposed tasks and improvement points for the realization of change. First, it shed light on the importance of the thorough analysis of customers and market environments and the prompt implementation of detailed executional plans to ensure the success of individuals, divisions, and subsidiaries. It emphasized that strategies or executional plans created just for show would no longer be tolerated. It also required employees to come up with a new framework for business. Changes must be brought to the reporting system, KPI, and other existing work procedures, while each employee must continue to achieve innovation through contemplating the optimal work process using PI (Process Innovation) as a tool to obtain a competitive edge.
○ The Committee also highlighted the importance of expanding Cross-Functional Communication, a corporate culture unique to KOLON Group centering on bringing people of different ages and positions together through close communication. It encouraged employees to take full advantage of the internal reverse mentoring program to learn from younger employees and always remain prepared to learn and take advice from external experts based on the mindset of 孔子穿珠 (gongjacheonju), meaning “even Confucius has to seek out a village woman to learn how to thread beads.”
○ KOLON Group distributed its management policy badge to all employees this year and continued its “badge management” for the seventh consecutive year. This year’s management policy “RE;BIRTH 2019” was embodied into a badge designed like a super baby holding up a barbell and a badge shaped like a shoe, symbolizing the first bold step towards a successful future. Together, the two badges signify KOLON Group’s commitment to exercising imagination to make the impossible possible, just like showing uncanny strength and taking the first step into uncharted territory.
○ The management policy badge of the year has been designed and worn every year since 2013. In the first year, it was the Success Puzzle badge, meaning that no puzzle can be complete if even one piece is missing, followed by the “Addition, Multiplication, and Division” badge in 2014, meaning that energy for success can be generated by adding each individual’s commitment, multiplying each individual’s passion, and dividing difficulties. The “Timer 2015” badge was worn in 2015 to promote executional excellence, the “Connecture 2016” badge to advance the successful connection with the future in 2016, and the “Hurdling 2017” badge in 2017 to highlight the importance of cooperation to overcome crises. The employees wore the “CATCH 2018” badge last year, which symbolized KOLON’s determination to flexibly and safely respond to difficulties and catch successes.
KOLON Industries Com...
▷ KOLON Industries concluded an MOU with CrucialTec, a biometric technology specialist, to jointly develop a flexible display grafted with a biometric solution.
▷ It plans to make inroads into the new market with the development of premium display technology.
▷ This MOU represents the formation of a mutually beneficial business model based on cooperation between a large corporation and an established venture company.
KOLON Industries (CEO Jang Hee-goo) is taking steps to expand its transparent polyimide film business with CPI®. It announced on the 6th that it had concluded an MOU with CrucialTec, a biometric technology specialist, to jointly develop a flexible display grafted with a biometric solution.
Through this joint development, KOLON Industries plans to come up with a new product with enhanced security by grafting CrucialTec’s fingerprint recognition sensor function onto CPI®. CrucialTec recently completed the development of its display fingerprint solution (DFS), which enables fingerprint recognition on all types of displays without the need for the application of separate sensors. The two companies have joined hands to tackle the market for new premium displays applied with biometric technology.
Premium display products applied with a biometric solution can be utilized for smartphones including foldable phones and all security-related devices requiring fingerprint recognition including ATMs and kiosks. This solution enables fingerprint recognition on all types of displays. Display products mounted with this solution are expected to be applied to a wide range of areas as they are easy to use and highly secure.
This joint development is expected to set a good example of mutually beneficial cooperation between a large corporation and an established venture company and fusion between different technological areas to create a new market.
Vice President Seong Ik-gyeong in charge of CPI® at KOLON Industries said, “We will develop CPI® into a versatile product that can be applied to diverse flexible display devices, including foldable smartphones. We will strive to build a new IT ecosystem and upgrade our status as a global material manufacturer through this joint development.”
CPI® developed by KOLON Industries is a next-generation display material that is as transparent as glass, durable, and resistant to cracks and scratches even after being folded hundreds of thousands of times. KOLON Industries has 104 domestic patents and 200 international patents regarding CPI®, which account for 80% of all domestic patents and 50% of all international patents related to polyimide films, respectively. It is also Korea’s only polyimide film manufacturer equipped with a mass-production system.
CrucialTec is an established company that developed the world’s first compact OTP (Optical TrackPad) mobile input device, a fingerprint recognition module, and a new capacitive touchscreen and supplies such input solutions to global mobile device manufacturers.
KOLON Group Chairman...
“I will return to who I was before I assumed the leadership of KOLON Group and begin a startup.”
Chairman Lee asked KOLON employees to think of his resignation as “momentum for true change”.
▷ Chairman Lee chose to step down to bring Group-wide change.
▷ Chairman Lee will stop engaging in management activities across-the-board from 2019.
▷ The control tower role of the holding company will be further reinforced and each subsidiary will be more stringently required to practice responsible management.
▷ The One & Only Committee, a consultative body composed of affiliate CEOs, will take charge of coordinating pending issues facing KOLON Group.
▷ CEO You Seog-jin of KOLON Corporation was promoted to the president and will hold the position of the chairperson of the One & Only Committee.
▷ Chairman Lee’s son Lee Kyu-ho was promoted to the executive director level and COO of the FnC Division of KOLON Industries in charge of fashion.
▷ Four female executives were all promoted and appointed for the tenth consecutive year.
O KOLON Group Chairman Lee Woong-yeul (63) will step down from all leadership positions in 2019.
O KOLON Group announced on the 28th that Chairman Lee, who has led management over the past 23 years, would step down from all leadership positions of KOLON Group and its subsidiaries including KOLON Corporation and KOLON Industries on January 1, 2019.
O Chairman Lee went to the podium without notice at the end of the Success Puzzle session attended by over 200 employees at the One & Only Tower in Magok-dong, Gangseo-gu, Seoul, on the morning of the 28th and stated, “I will leave KOLON Group at the outset of the New Year and will not engage in the Group’s management.”
After the session, which was broadcast live to the Group’s employees, Chairman Lee officially announced his resignation by posting a letter addressed to the employees on KOLON Group’s intranet. KOLON Group said no resignation ceremony would be held.
O Through the letter, Chairman Lee said, “I will now return to who I was prior to assuming the leadership of KOLON Group and start my own business. I plan to put all my experiences and knowledge that I have accumulated so far to the test outside of KOLON Group.”
He added, “When I assumed the Chairman position at the age of 40 in January 1996, I pledged to myself to steer KOLON Group only for the next 20 years. Three more years have passed from the deadline I set. There is a Chinese idiom 時不可失 (sibulgasil), meaning time once lost is lost forever. I am leaving because it is now or never, and I will never be able to muster up this courage again to take on new challenges.”
Chairman Lee continued, “I have led a more privileged life as I was born with a gold spoon in my mouth, but it also burdened me with greater responsibilities. That gold spoon of mine left behind some cracks in my teeth. I will forgo all my privileges and responsibilities now.”
O During the announcement of his resignation, Chairman Lee asked the Group’s employees earnestly to further expedite change and innovation. He said, “We will be weeded out in an instant unless we keep abreast with the latest changes in this unpredictable industrial ecosystem. I am leaving now for the Group to find new momentum to make another leap forward and usher in a new era.”
Chairman Lee confessed that he had reached his limit after years of remaining at the forefront of KOLON Group’s evolution and that “it was time for me to step aside to bring true changes to the Group.” He stressed that his decision to step down was aimed at creating a new driving force for the Group’s change and innovation.
O KOLON Group said that, due to Chairman Lee’s resignation, the control tower role of the holding company will become even more important and each subsidiary will be required to more stringently practice responsible management under the leadership of the holding company.
KOLON Group also announced that the One & Only Committee, a consultative body consisting of affiliate CEOs, would be established to take charge of tackling major management issues such as the Group’s identity, long-term management directions, large-scale investments, cooperation and conflicts of interest between subsidiaries, etc.
KOLON Group said, “We have been establishing a line of young, dynamic CEOs through personnel appointments centered on generational shifts over the past several years. The young CEOs are expected to propel the Group forward for greater innovation.”
O KOLON Group promoted the former Vice President and CEO You Seog-jin (54) of KOLON Corporation to the president and CEO position through the regular executive appointment of 2019 to lead the Group’s holding company. CEO You is also to serve as the chairman of the One & Only Committee, which will be newly launched. CEO You was recruited as Executive Director of Strategic Planning at KOLON Corporation in 2013 and was appointed Vice President and CEO last year.
O Managing Director Lee Kyu-ho (35) in charge of Strategic Planning at KOLON Corporation was promoted to the executive director level and COO of the FnC Division of KOLON Industries. The COO supervises the operation of the fashion business of KOLON Group.
A person connected with the Group said, “Chairman Lee decided to charge Executive Director Lee with the operation of the Group’s key business first, instead of handing over the control of the company, to engage him in the management step-by-step. It appears Chairman Lee placed a premium on preparing his son to head the Group by accumulating experiences and abilities.”
O This executive appointment was also noted for the promotion of four female executives at once.
Managing Director Han Gyeong-ae, who has been in charge of the operation of casual brands such as RE;CODE and SERIES; of KOLON Industries’ FnC Division, was promoted to the executive director level while General Manager Lee Su-jin of KOLON Corporation’s Business Management Office was promoted to the assistant managing director level as the Group’s first female executive in finance.
Assistant Managing Director and Director Kim Su-jeong of KOLON Life Science’s Biopharmaceutical Research Institute in charge of R&D of biomedicine such as Invossa (the world’ first cell and gene therapy for osteoarthritis) and Assistant Managing Director Gang So-yeong heading KOLON Industries’ cosmetics business TF were both promoted to the managing director level.
KOLON Group has promoted female executives for the tenth consecutive year through this executive appointment, including the milestone year 2013 when the Group’s first female CEO was appointed. The percentage of women among new recruits hired from open recruitment for college graduates has hovered over 30% over the past ten years, and a female mentoring system is in place to cultivate female leaders.
KOLON BASF innoPOM A...
- The POM production plant jointly completed by KOLON Plastics and BASF goes into operation -
○ This plant with a production capacity of 70,000 tons per year, in combination with the existing plant of KOLON Plastics, succeeded in forming the world’s largest production line for a single plant.
○ BASF’s quality control system and expertise combined with KOLON Plastics’ high-efficiency process has led to the production of the industry’s best products.
○ Production equipment and facilities are shared, while production and sales are pushed ahead with separately to improve the competitiveness of each company.
○ The plant was built with a zero-disaster record by investing KRW 260 billion and is contributing to boosting the local economy.
*EP: engineering plastics
○ KOLON BASF innoPOM (co-headed by Kim Yeong-bom and Lee Man-wu) completed a joint POM production plant within the first Gimcheon Regular Industrial Complex in Gyeongsangbuk-do, on the 25th and is ready to advance into the global engineering plastics market in earnest. KOLON BASF innoPOM is a joint company established by KOLON Plastics (CEO Kim Yeong-bom) and BASF – a world-renowned chemical company – in 2016.
○ The joint production plant will be producing 70,000 tons of POM products a year and is located within the premises of KOLON Plastics’ production plant in Gimcheon, which manufactures POM products totaling 80,000 tons a year. The POM production complex in Gimcheon, Gyeongsangbuk-do, can now produce 150,000 tons a year, boasting the world’s largest production line for a single production plant. After the groundbreaking ceremony in April 2016, KRW 260 billion was invested and the construction of the production plant was completed with a zero-disaster record (no safety or environmental accidents) for 27 months.
○ The joint production plant is equipped with BASF’s accurate quality control system and advanced eco-friendly technologies that reduce energy consumption as well as KOLON Plastics’ efficient and stable production management capabilities accumulated over more than two decades to ensure the production of world-class POM products. KOLON BASF innoPOM is now able to supply POM products on a stable basis to KOLON Plastics and BASF, each of which has an independent sales network, and thus help the two companies gain an upper hand in advancing into and solidifying their footing in the global market.
The two companies share the production equipment of the joint production plant while separately selling products manufactured with recipes tailored to meet the needs of their individual customers, thereby improving their competitiveness through cooperation. POM products manufactured at the joint production plant are KOLON Plastics’ Kocetal® and BASF’s Ultraform®. BASF adopted the same properties and quality control system for Ultraform® as that which is produced in Germany to maintain the industry’s best quality.
The joint production plant is installed with KOLON Plastics’ POM production technology that streamlines the manufacturing process and increases efficiency, which received high evaluations from BASF. Only a handful of companies in advanced countries have such exclusive POM production technology, as POM manufacturing requires a complicated process and high degree of technical skill.
POM is a type of engineering plastic with multiple purposes thanks to its superior durability. It is mainly used as a material for vehicle parts and electronic and electrical applications as it does not swell or shrink due to heat and humidity, is resistant to friction and abrasion, and sustains less damage from chemical reaction. Currently, 42% of the world’s demand for POM is used for vehicle fuel pumps, safety belts, and other major vehicle parts. Global chemical companies are spurring investment in the development and production of high-quality engineering plastics that are much lighter but just as strong as metals, as vehicle weight reduction has emerged as a leading trend to comply with environmental regulations and maximize fuel efficiency.
President Raimar Jahn of Performance Materials at BASF said, “The POM production plant built jointly with KOLON Plastics is expected to set new standards by improving production efficiency and reducing energy consumption based on innovative environmental management criteria.” He added, “This POM production plant is BASF’s first to open in the Asia-Pacific region and enables us to stably supply POM products of premium quality to the entire world as well as the Asia-Pacific region.”
CEO Kim Yeong-bom of KOLON Plastics, who also co-heads KOLON BASF innoPOM, said, “This joint plant is a representative example of building on the strengths of two partner companies and creating business synergy through successful cooperation in the global chemical market. We will establish partnerships in various business fields in addition to POM.”
Through the opening of the plant, KOLON BASF innoPOM is expected to make significant contributions to boosting the local economy by generating stable sales and added value for pertinent businesses such as plant maintenance and repair and logistics.
KOLON Plastics Gears...
○ KOLON Plastics expects an increase in sales across Europe thanks to its strategic alliance with Germany’s Barlog.
○ It participated in FAKUMA 2018 – one of Europe’s top three international trade fairs for the plastics industry.
○ Sales in the European market grew more than 50% compared to the previous year and are expected to increase on a continued basis.
KOLON Plastics (CEO Kim Yeong-bom) is reinforcing its strategic alliance with local corporations to expand its presence in the European market and is aggressively advancing into the high-value-added engineering plastics market as evidenced by its participation in FAKUMA 2018 – one of Europe’s top three international trade fairs for the plastics industry.
KOLON Plastics took part in FAKUMA 2018, which was held in Friedrichshafen, Germany, on the 16th, and showcased its core technologies and applications for vehicle weight reduction, including its world-class eco-friendly POM (polyoxymethylene) products. KOLON Plastics has continued to raise its brand awareness by participating in the fair since 2012 and forming a technological and sales network across Europe.
At the fair, KOLON Plastics received rave reviews from attendees for its eco-friendly POM products with reduced amounts of VOCs, down to one-fourth the amounts of existing products. Furthermore, as it is projected that the use of engineering plastics for chargers and automotive electronics will be dramatically expanded with the advent of the era of electric and autonomous vehicles, it has placed a focus on PBT (polybuthylene terephthalate), PA (polyamide), and POM materials with outstanding electrical insulating and flame-retardant properties. The European market is an arena of competition for high-value-added engineering plastic parts for electronic and electrical applications as it is populated with a number of global automotive companies, and its annual market size is calculated at KRW 12 trillion. KOLON Plastics also exhibited connectors, protector housings, chargers, bobbins, relays, alternators, and other relevant parts at the fair.
KOLON Plastics is actively seeking to join hands with local European companies. Last September, it formed a partnership with Germany’s Barlog Plastics GmbH for the exclusive sale of engineering plastics as an important first step to pioneer the market. Barlog is a small giant in the field of engineering plastics. It was established in 1996 and now continues to expand its customer pool centering on Germany based on its sales network across Europe. KOLON Plastics expects that this partnership will contribute to the development of new customers and new uses for engineering plastics in the future. Also, it is pushing ahead with joint product development with an Italian processing company, which will be completed by the end of this year at the earliest and lead to a new product release.
KOLON Plastics is demonstrating notable growth in the European market. As of the third quarter this year, its growth rate rose by over 50% compared to the previous year. It is anticipated to record even greater growth next year.
CEO Kim Yeong-bom said, “It became possible for us to engage in omni-directional marketing activities based on our partner companies’ expertise. Through cooperation with local partner companies, we will fortify our position in the European market across all stages from product sales to product development and technological support.”
FAKUMA is one of Europe’s top three international trade fairs for the plastic industry. FAKUMA 2017 brought together over 1,900 participating companies from 38 countries and approximately 48,000 visitors from 120 countries. KOLON Plastics has taken part in the fair since 2012 and showcased engineering plastic materials and state-of-the-art composite materials developed for vehicle weight reduction, winning a fervent response among attendees.
KOLON Industries Aim...
- KOLON Industries’ tire cord production plant opens its doors in Binh Duong Province of Vietnam -
▷ KOLON Industries accelerates its global expansion by building its 9th overseas production base.
▷ KOLON Industries secured a total of 93,800 tons of tire cord production capacity through the newly opened production plant with a production capacity of 16,800 tons.
▷ KOLON Group Chairman Lee Woong-yeul attended the construction completion ceremony and oversees the developments of the subsidiary’s global location.
KOLON Industries (CEO Jang Hee-goo) is further accelerating its global expansion with the opening of a new tire cord production plant in Binh Duong Province of Vietnam.
KOLON Industries announced on the 18th that it completed the construction of a production plant for PET (polyester) tire cords with an annual production capacity of 16,800 tons in Binh Duong Province of Vietnam. This new production plant will add 16,800 tons to KOLON Industries’ existing tire cord production of 77,000 tons, thereby increasing its total production capacity to 93,800 tons. This amounts to 15% of the world’s tire cord market.
A tire cord is a stiffener that serves as the tire’s frame with high-strength fiber textile inserted. It plays an instrumental role in ensuring the safety and performance of a vehicle. Tire cords can be made with PET, nylon, rayon, or steel. KOLON Industries manufactures PET tire cords mainly used for passenger vehicle tires.
KOLON Industries’ tire cord production plant in Binh Duong Province is within the Bau Bang Industrial Park located about two hours by car to the north of Ho Chi Minh City. This advanced factory is equipped with state-of-the-art production facilities for the entire manufacturing process, from yarn production to weaving, heat treatment, and the rollout of finished products.
On the 17th, CEO Jang Hee-goo of KOLON Industries met with Party Secretary Tran Van Nam of Binh Duong Province and Chairman Tran Thanh Liem of the Provincial People’s Committee, who delivered congratulatory messages for the completion of the production plant and promised continual support throughout the future. The construction completion ceremony on the 18th was attended by Vietnamese dignitaries such as Vice Chairman Mai Hung Dung of the Provincial People’s Committee, representatives of KOLON Industries’ customer companies such as Hankook Tire, Kumho Tire, and Nexen Tire, and high-profile officers of KOLON including KOLON Group Chairman Lee Woong-yeul and CEO Jang Hee-goo of KOLON Industries.
CEO Jang stated, “We would like to thank the government of Binh Duoung Province and our customer companies for their support and cooperation for the opening of our new production plant in Vietnam. We will focus on cultivating this plant into an overseas production base boasting world-class cost-competitiveness and quality-competitiveness based on our 45 years of knowhow.” KOLON Industries plans to further expand its tire cord production plant in Vietnam.
KOLON Industries, which initiated its PET tire cord business in 1973, has built partnerships with globally reputed brands such as Michelin, Goodyear, and Bridgestone and continued to reinforce its competitiveness. In 2004, it secured an advance base for the Chinese market by opening a production plant in Nanjing, China. Now, with the opening of this plant in Vietnam, another production base equipped with cutting-edge technology and cost-competitiveness is added to its assets to increase its global competitive strength.
Tire cords are directly connected to the safety of end users and the market entry barrier is relatively high compared to other industries. However, once recognized for quality in the market, a tire cord maker can stably maintain its business on a continued basis. Currently, as global demand for vehicles continues to rise, demand for tire cords is also expected to grow by 3-4% a year.
Vice President Choi Young-mu in charge of the vehicle material business commented, “The tire cord production plant boasts the third-largest scale in the history of KOLON Industries’ investment in Vietnam following the first and second airbag plants built in 2016 and 2017, respectively. While the opening of the plant in Nanjing, China, was aimed at preempting a firm base in the Chinese market, the investment in this plant in Vietnam is anticipated to help KOLON Industries attain the competence to take the lead in the global market.”
KOLON Industries has established a series of overseas production bases in China, Indonesia, Mexico, etc., and this production plant serves as its ninth in line to add to its global competitiveness. It is the company’s second overseas tire cord production plant after the one in Nanjing, China, completed in 2004.
KOLON Plastics takes...
KOLON Plastics (CEO Kim Yeong-bom) participated in CHINAPLAS 2018, which opened on the 24th in Shanghai, as an extension of its efforts to advance further into the Chinese market. At this exhibition, KOLON Plastics showcased a variety of cutting-edge products including the world-class eco-friendly POM, key materials for weight reduction of vehicles, and advanced composite materials for diverse applications.
The exhibition space was themed after “Future Envisioned by KOLON” and consisted of the POM Zone introducing the world’s largest POM production plant, the Automotive Zone showcasing the wide range of materials for automotive parts, and the Need & Solution Zone highlighting the company’s efforts to find breakthrough solutions for customers.
The most notable feature within KOLON Plastics’ booth was the massive car replica, which displayed automotive parts applied to current vehicles and those of the future. The Need & Solution Zone exhibited the connector and high-voltage electric insulator* expected to be used as key parts of electric vehicles in the near future, a hydrolysis-resistant material** with its physical properties remaining unchanged even in the environment of high temperatures and humidity, technologies applied to electronic automotive parts and alternatives to metals, and 3D-printed materials designed to engage more customers in an emotional way. KOLON Plastics also unveiled low-odor POM, which succeeded in reducing the discharge of VOCs by 25% to 0.5ppm or less. KOLON Plastics’ world-class POM is evaluated to be environmentally responsible as it releases almost no harmful substances during processing and as a finished product.
KOLON Plastics has continued to reinforce its presence in the Chinese market since the opening of its Beijing branch in 2010. It opened the Shanghai branch last year and has focused on expanding the pool of new corporate customers in the local automotive market. KOLON Plastics aims to raise its sales in China by 40% compared to the previous year on the back of many positive external factors. For instance, it has an advantageous position as China’s Ministry of Commerce imposed a lower rate of anti-dumping duty than its competitors in October last year.
Furthermore, the POM production plant jointly constructed in Gimcheon, Gyeongsangbuk-do, with Germany’s BASF (with the ratio of 50:50) is scheduled to go into full-scale operation in the second half of this year. Once the plant is completed, KOLON Plastics will be equipped with the total POM production capacity of 150,000 tons per year, which is the world’s largest scale. It is also expected to help KOLON Plastics achieve the world’s highest competitiveness based on improved production efficiency and reduced production costs.
CEO Kim Yeong-bom said during his visit to the exhibition, “We showcased a diversity of technologies developed by KOLON Plastics for electric vehicles and vehicle weight reduction at this exhibition. We believe that the completion of the POM production plant being constructed in association with BASF in the second half of this year will lead to an increase in the distribution of our globally recognized POM products and ultimately accelerate our company’s growth.”
CHINAPLAS is Asia’s largest and one of the world’s top two exhibitions for the plastic and rubber industries, and this year’s CHINAPLAS was staged at the National Exhibition and Convention Center (NECC) in Hongqiao, Shanghai, from April 24th to April 27th, with the entire exhibition floor space measuring 320,000㎡. It drew about 4,000 companies from 40 countries and more than 150,000 visitors.