Hyosung Advanced Materials Expands Carbon Fiber Production Line at Jeonju Plant
[Asia Economy Reporter Lee Jung-yoon] Hyosung Advanced Materials announced on the 16th that it has decided to expand the carbon fiber production line at its Jeonju plant.
The investment amount is 77.8 billion KRW, and the investment period is until February 28, 2025.
The company explained, "The expansion is due to the increase in global carbon fiber demand for high-pressure containers such as CNG and hydrogen, as well as solar insulation materials, in line with eco-friendly policies."
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Additionally, Hyosung Advanced Materials has decided to acquire shares of its Chinese affiliate, Hyosung Carbon Materials. The acquisition amount is 38.3496 billion KRW, and the shareholding ratio after acquisition will be 100%.
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