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Hyosung Builds Ulsan Polyketone Plant in Ulsan

(ULSAN=NEWSIS) Ulsan City announced July 2 that it will sign an investment memorandum of understanding with Hyosung to build a KRW 1 trillion polyketone plant in Ulsan.

Hyosung has developed the source technology to commercialize polyketone, an eco-friendly plastic new material.

Hyosung will invest KRW 1 trillion to build a polyketone plant and research and development center on 208,000㎡ of land in Namgu by 2021.

The company will encourage regional companies to participate in the construction of the plant and plans to prioritize hiring Ulsan residents.

Ulsan will provide administrative support and tax reductions to the company.

The project is expected to create 360,000 new jobs including 600 temporary workers for the construction of the plant, 500 regular workers for the operation of the plant and other jobs for the maintenance of the plant.

Source Text

Source: Newsis (Jul. 01, 2015)

** This article was translated from the Korean.