Hyosung Advanced Materials Co., Ltd., Expands Carbon Fiber Factory in Jeonju

Investment of 75.8 Billion KRW in Jeonju Factory... Expansion to an Annual Production Capacity of 6,500 Tons

[Asia Economy Reporter Hwang Yoon-joo] Hyosung Advanced Materials Co., Ltd. is expanding its carbon fiber plant in Jeonju to an annual capacity of 6,500 tons.

Hyosung Advanced Materials announced on the 3rd that it will invest 75.8 billion KRW to expand the carbon fiber production line at its Jeonbuk Jeonju plant to an annual capacity of 6,500 tons by July next year. Previously, in 2020, the production capacity was increased from 2,000 tons to 4,000 tons annually.

This expansion aims to prepare for the increasing demand for carbon fiber used in hydrogen vehicle fuel tanks and compressed natural gas (CNG) high-pressure containers, which are gaining attention as future eco-friendly automobiles.

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. Known as the ‘material of dreams,’ carbon fiber is one-quarter the weight of steel but ten times stronger, making it a substitute material for various applications where steel is used, such as automobiles, wind power, aerospace, and sports leisure.

Meanwhile, this expansion is part of a large-scale carbon fiber investment plan announced in 2019, with a total investment of 1 trillion KRW planned by 2028 to expand the Jeonju plant’s carbon fiber production line to an annual capacity of 24,000 tons.

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