JEOLLABUK-DO < invest Korea

According to Yonhap News,          

Construction for Korea's first medium-performance carbon fiber plant begins at Jeonju City, northern Jeolla Province.

Jeonju and Hyosung held a ceremony praying for safety at the construction site in the Eco-friendly Cutting-edge Comprehensive Industrial Complex in Dongsan-dong, Jeonju City.

The industrial complex will be built on the 284,000 square meter-site around Palbok-dong and Dongsan-dong, and Hyosung's medium-performance carbon fiber plant is scheduled to be established on the site.

About 250 billion KRW will be injected into the construction, scheduled for completion within July, and the plant plans to manufacture products from Feb. 2013.

Korea depended its 100% supply of carbon fiber, new materials that require cutting-edge technology for producton, on imports, but last year Hyosung became the first company in Korea to successfully develop the materials.

Hyosung plans to invest a total of 1.2 trillion KRW on various phases to expand production lines in the first fiber mass-production plant in Korea.

The construction is expected to accelerate the efforts to establish Carbon Valley to accumulate carbon fiber-related companies and research institutes.

Song Ha-jin, Jeonju City Mayor, said, "We are very proud of laying foundation for production of carbon fiber with our own technology. I will take advantage of the production as an opportunity to develop Jeonju into the carbon hub by attracting carbon related-companies and research institutes."  

Source Text

Source: Yonhap News (Feb. 8, 2012)

** This is an English translation of a Korean news article.