SKC, a Korean chemical company SK Group, will invest 80 billion won to add equipment to China's industrial base, produce dust-free components and the necessary polyurethane chemicals for motor vehicles.
With the company's construction in Jiangsu Nantong, the company's target in 2021 operating income reached 130 billion won, Nantong manufacturers operating profit in 2021 increased to 30 billion won.
The SKC Board of Directors approved a plan on Wednesday to set up a joint venture, named the Hong Kong SPC, a wet chemical producer in South Korea to establish a wetting plant in China, and SKC will invest $ 40 million to build a wet chemical plant, Including 1.11% of the total shares of 16.9 billion won to obtain a 75.1% stake in Hong Kong SPC.
Wet chemicals for liquid crystal display (LCD) panels and semiconductor manufacturing processes, such as cleaning and etching. Market analysts believe that the global market value of wet chemicals in 2016 is estimated at 1.3 trillion won.
Hong Kong SPC will subsequently set up a unit for the manufacture of wet chemical products in China, which will begin construction of a wet chemical plant this year and is expected to begin commercial production since 2019. SKC said it expects demand for wet chemical products in China to continue to rise as China Of the semiconductor production of about 50% in Jiangsu, is currently near the factory in Shanghai to be built area.
The SK chemical sector will also invest 35 billion won to build a vehicle-based polyurethane production plant, which is expected to start construction in January and start operations in February 2019.
The company said Nantong New Zone and Ulsan, Suwon and Incheon plants will become one of the core production bases of SKC, which is the only ideal chemical industry complex near Shanghai.