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Ulsan-signed an investment agreement worth KRW 15 bn with the eco-friendly bio-chemical company Chemifolio
On October 21st, Ulsan announced that it has signed an investment agreement with the eco-friendly bio-chemical company Chemifolio to establish a new production plant for eco-friendly materials and fuel oils.
Under the agreement, Chemifolio will invest KRW 15 billion to construct the production plant by September next year on land in Hwangseong-dong, Nam-gu, within the Ulsan Mipo National Industrial Complex.
The new plant will have an annual production capacity of 41,000 tons, including 5,000 tons of high-purity cadanol and 36,000 tons of hydrogen-treated biofuels.
The company will prioritize hiring Ulsan citizens for recruitment, contributing to job creation and economic revitalization in the region.
Ulsan-si will collaborate with Chemifolio to ensure the smooth progress of the project and provide support for administrative procedures such as permits and approvals.
Ulsan's Mayor stated, "We will fully support Chemifolio, a company with technological expertise and growth potential, in leading the eco-friendly transition in the materials and energy sectors, while also contributing to regional development."
jjang23@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2025.10.22
Views
16
According to Yonhap News,
On October 21st, Ulsan announced that it has signed an investment agreement with the eco-friendly bio-chemical company Chemifolio to establish a new production plant for eco-friendly materials and fuel oils.
Under the agreement, Chemifolio will invest KRW 15 billion to construct the production plant by September next year on land in Hwangseong-dong, Nam-gu, within the Ulsan Mipo National Industrial Complex.
The new plant will have an annual production capacity of 41,000 tons, including 5,000 tons of high-purity cadanol and 36,000 tons of hydrogen-treated biofuels.
The company will prioritize hiring Ulsan citizens for recruitment, contributing to job creation and economic revitalization in the region.
Ulsan-si will collaborate with Chemifolio to ensure the smooth progress of the project and provide support for administrative procedures such as permits and approvals.
Ulsan's Mayor stated, "We will fully support Chemifolio, a company with technological expertise and growth potential, in leading the eco-friendly transition in the materials and energy sectors, while also contributing to regional development."
jjang23@yna.co.kr
Source Text
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Source: Yonhap News (October 21, 2025)
** This article was translated from Korean.