JEOLLABUK-DO < invest Korea

According to Yonhap News,

Solus Advanced Materials will double and relocate is Iksan factory, which produces OLED display materials, in Jeonbuk State.

Solus Advanced Materials held a groundbreaking ceremony in Iksan Hamyeol Industrial Complex, a site to relocate the factory, on October 24.

Solus I-tech, a subsidiary of Solus Advanced Materials, has its non-light-emitting OLED (organic light-emitting diodes ) materials plant in the Hamyeol Industrial Complex.

The company plans to move its OLED production plant, currently in Iksan, to the Hamyeol Industrial Complex, and develop it into a strategic production base for comprehensive OLED materials.

The new production plant will be built in a total building area of 5,736㎡ including an office building, utility building, and plant building.

With the target completion at the end of next year, it plans to begin construction this month and mass production in early 2026.

It is about twice the size of Iksan plant's building area (2,891㎡), located in Iksan General Industrial Complex 2. And there will be comprehensive upgrade to facilities and manufacturing process by improving and newly installing production facilities, additional facilities, environment and safety management facilities.

In this regard, the state government and local governments are most likely to provide support.

To secure the investment subsidy of KOTRA, Solus Advanced Materials recently signed an MOU on investment subsidy with Iksan-si and Jeonbuk State government.


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Source: Yonhap News (October 24, 2024)