Lafarge SA of France Tops in Korean PlasterBoard Market

France's Lafarge became the leader in the Korean plasterboard market. Plasterboard, also known as drywall is a synthesized prefabricated material used in buildings' construction.
As of October 10, Lafarge SA acquired the plasterboard businesses of Byuksan, the second largest producer plasterboard, and DongbuHannong Chemical, the third largest for 50 million dollars and 77 million dollars respectively.
The two companies sold their businesses because the demand for plasterboard has decreased sharply and the construction sector has fallen into a recession since Korea received the IMF bail-out late last year.
Accordingly, the market share of Lafarge in Korea rose to 60% surpassing the previous market leader Kumkang which controls 40% of the plasterboard market.
The Korean plasterboard market is estimated to be worth approximately 100 billion won.