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According to Pulse by Maeil Business News Korea,
South Korea’s SK geo centric Co., rebranded from SK General Chemical for green identity last year, announced Monday it has kicked off the construction of a high-purity isopropyl alcohol (IPA) factory in Ulsan, Korea, in joint venture with Japan’s Tokuyama.
The ground-breaking event was held Monday at the Ulsan plant of SK and attended by SK geo centric CEO Na Kyung-soo, Tokuyama President and Executive Officer Hiroshi Yokota, and Ulsan Metropolitan City Vice Mayor Jang Su-wan.
SK geo centric and Tokuyama invested a combined 120 billion won to set up a 50:50 joint venture dubbed STAC to produce high-purity IPA. They plan to build a factory with an annual capacity of 30,000 tons on a land of 20,000 square meters in Ulsan, with an aim to complete the construction by the second half of 2023 to start commercial operation in 2024.
High-purity IPA is used as a solvent for wafer cleaning in the semiconductor manufacturing process, as well as for cleaning in the LCD manufacturing. In the semiconductor industry, the high-purity IPA market is estimated to grow by an average 8 percent per year, according to SK geo centric.
Under the partnership, SK geo centric will be in charge of material procurement, factory operation and marketing, and Tokuyama will provide its manufacturing technology.
"With the meeting of two chemical companies representing Korea and Japan, our partnership will be further enhanced, leading to success in both production and sale of high-quality items,” said Na Kyung-soo, CEO of SK geo centric.
Tokuyama President Hiroshi Yokota also welcomed the partnership and said, “The company also appreciates the partnership and is planning to actively join the fast-growing high-purity IPA market in Korea based on our technical edge in the sector.”
By Pulse
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Source: Pulse by Maeil Business News Korea (August 1, 2022)