Kumho Petrochemical eyes ‘values beyond chemistry’
The group recorded its highest-ever performance last year based on a solid petrochemical-oriented business structure despite global uncertainty.
On its fiftieth anniversary last year, it suggested a new direction for the company and declared to become a “solution partner to create a common future with values beyond chemistry.”
Kumho Petrochemical Group will strengthen its main business this year and continue its efforts to preoccupy future businesses to lay the foundation for the next 50 years.
Kumho Petrochemical Group has an advanced business portfolio centered on synthetic rubber products from general-purpose to high added-value and is strengthening the competitiveness of its core business.
In particular, NB Latex, a raw material for latex gloves, is focusing on diversifying its product lineup to maintain global leadership.
Moreover, the group plans to create added value for NB Latex by continuing research and development activities to lighten NB Latex used for medical gloves.
Kumho P&B Chemical reinforces the competitiveness of its flagship products based on the strength of vertical integration of phenol derivatives from phenol and acetone to BPA and epoxy resin.
As Epoxy resin is also used as a raw material for wind power blades, it is drawing attention in conjunction with the recent spread of new and renewable energy.
Accordingly, Kumho P&B Chemical is focusing on developing high-value epoxy using its own technology know-how while continuously expanding its annual production capacity of epoxy resin.
Furthermore, the company plans to secure the stability of raw material procurement of epoxy resin through bio-ECH joint investment.
Kumho Mitsui Chemicals is a leading domestic company for MDI, which is a core raw material of polyurethane.
The company aims to improve cost competitiveness by expanding production capacity from 410,000 tons per year to 610,000 tons by 2023.
It will make inroads into the foreign market this year, by increasing its competitiveness and sales capabilities of MDI products.
In addition, Kumho Petrochemical Group is also striving to foster new growth engines for the upcoming future.
Kumho Petrochemical Group is going to start selling carbon nanotube (CNT), which is drawing attention as a key conductive additive of lithium secondary battery (LIB) for electric vehicles.
Moreover, the company is preparing to expand its business by using engineering plastics (EP) as one of its growth engines in the synthetic resin sector.
It will focus on EP development activities that can be used for eco-friendly means of transportation such as electric vehicles.
Along with the chemical business, the group is also concentrating on leisure business after acquiring Kumho Resort.
Kumho Resort is pushing to improve some aging facilities and surrounding areas.
The golf business division, which operates Asiana CC in Yongin, has introduced an AI course management solution using drones to establish a differentiated management system.
BY HAJIN KIM [firstname.lastname@example.org]