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Solvay Group, a Belgian chemical company, said Monday it will open a highly dispersible silica plant in South Korea in 2017 to meet growing demands for premium tires and energy-efficient chemical products.
In April, Solvay broke ground for a silica plant with an annual capacity of 80,000 tons on a reclaimed industrial complex on the west coast to begin commercial operation in October 2017.
The premium silica is used for energy-efficient tires, rubber products and other industrial chemicals.
Solvay said it has decided to expand silica production and research capacity in South Korea as part of efforts to strengthen partnership with tire makers, including Hankook Tire and Nexen Tire.
"We decided to invest in Korea because of the strong presence of global tire makers," CEO Jean-Pierre Clamadieu said in a press briefing. "We also want to diversify supplies in the global market."
Solvay recently set up a new research center at Ewha Womans University in Seoul to expand its partnership in the research and development area.
The Saemangeum economic zone sits on reclaimed land on the west coast. The government has been seeking to attract foreign investment to the 40,200-hectare area to foster it as a regional business hub. (Yonhap)
In April, Solvay broke ground for a silica plant with an annual capacity of 80,000 tons on a reclaimed industrial complex on the west coast to begin commercial operation in October 2017.
The premium silica is used for energy-efficient tires, rubber products and other industrial chemicals.
Solvay said it has decided to expand silica production and research capacity in South Korea as part of efforts to strengthen partnership with tire makers, including Hankook Tire and Nexen Tire.
"We decided to invest in Korea because of the strong presence of global tire makers," CEO Jean-Pierre Clamadieu said in a press briefing. "We also want to diversify supplies in the global market."
Solvay recently set up a new research center at Ewha Womans University in Seoul to expand its partnership in the research and development area.
The Saemangeum economic zone sits on reclaimed land on the west coast. The government has been seeking to attract foreign investment to the 40,200-hectare area to foster it as a regional business hub. (Yonhap)
