Hyosung Advanced Materials to Invest 75.8 Billion KRW to Expand Carbon Fiber Factory in Jeonju

[Asia Economy Reporter Lee Seon-ae] Hyosung Advanced Materials announced on the 3rd that it will invest 75.8 billion KRW to expand its carbon fiber plant in Jeonju.

Hyosung Advanced Materials plans to increase the production capacity of its Jeonju carbon fiber plant from the current 4,000 tons per year to 6,500 tons by July next year.

The company explained, "We are expanding the plant due to the increasing demand for carbon fiber used in fuel tanks for hydrogen vehicles, which are gaining attention as future eco-friendly cars, and high-pressure containers for compressed natural gas (CNG)."

This expansion is part of a large-scale carbon fiber investment plan announced in 2019. Hyosung Advanced Materials plans to invest 1 trillion KRW by 2028 to increase the carbon fiber production capacity at the Jeonju plant to 24,000 tons per year.

Hyosung Advanced Materials developed the high-strength, medium-elasticity carbon fiber 'TANSOME®' based on proprietary technology in 2011, becoming the first in Korea to do so, and has been operating the Jeonju plant since 2013.

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