Dongsung Chemical invests $10 million to expand organic peroxide production

Dongsung Chemical's production facility in Yeosu, South Jeolla [DONGSUNG CHEMICAL]

Dongsung Chemical is investing 13 billion won ($10 million) to ramp up organic peroxide production at its Yeosu plant, the chemical manufacturer said Thursday.

The plan is to expand its annual production capacity of organic peroxides, which are used in plastics and rubber manufacturing, by over 4,000 tons at its Yeosu plant by October next year. The company is expecting the production efficiency to improve by 36 percent as well.

The latest move signifies Dongsung’s pivot toward fine chemicals from traditional petrochemicals, as the company strives to diversify its portfolio away from the carbon-heavy sector.

The goal is to grow the global market share in organic peroxides fivefold in the future by 2027. Demand for organic peroxides, which are used to produce initiators for polymer, is on an uptrend in line with the growing polymer market.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]