Hansol Paper, 32.3 Billion KRW Investment in Daejeon Plant to Expand Whiteboard Production Capacity

White cardboard raw paper in the warehouse of Hansol Paper Daejeon Plant

[Asia Economy Reporter Kim Daeseop] Hansol Paper announced on the 27th that it will invest approximately 32.3 billion KRW in its Daejeon plant to expand its white cardboard production capacity.

This investment was decided at the board meeting held the previous day. Through the investment in the Daejeon plant, the company plans to increase the production speed of the equipment and expand production capacity across the entire production process, from raw material supply to product packaging, in line with that speed.

The equipment investment is scheduled to be completed by the second half of 2021, after which the company plans to actively pursue market expansion. Through this, Hansol Paper aims to further solidify its market share in the domestic market and also expand its share in key export regions such as Southeast Asia.

White cardboard is mainly used as a high-end packaging material for confectionery, pharmaceuticals, cosmetics, and other products. Hansol Paper's white cardboard production capacity is 710,000 tons annually. The company explains that it holds the number one position in the domestic white cardboard market with a 40% market share.

A Hansol Paper official stated, "Through this equipment investment, we expect to strengthen production capacity in the white cardboard sector and enhance competitiveness not only in the domestic market but also overseas." He added, "Additionally, we anticipate that this will help partially alleviate the oversupply of domestic waste paper, which has faced export restrictions due to recent environmental regulations in China."

This content was produced with the assistance of AI translation services.