Japan Idemitsu Kosan, "Strengthening Cooperation with Osan City through 'Osan R&D Center'"

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Idemitsu Kosan, a Japanese organic light-emitting diode (OLED) material manufacturer, is strengthening public-private cooperation with Osan City following the establishment of the 'Osan Research and Development (R&D) Center.'

Osan City announced on the 15th that Yoshiaki Izawa, president of Idemitsu Advanced Materials Korea, the Korean subsidiary of Idemitsu Kosan, visited Osan City Hall on the 14th and discussed this with Osan Mayor Lee Gwon-jae.

Izawa Yoshiaki, President of Idemitsu Kosan Korea Corporation, is presenting an invitation to visit the Japanese R&D Center to Oh Kwon-jae, Mayor of Osan (left).
Photo by Osan City

During the meeting with Mayor Lee, President Izawa explained, "Idemitsu Kosan, which hopes to strengthen its connection with Korea, decided to build a research center in Osan because Osan is a transportation hub and has the advantage of many companies gathered nearby."

President Izawa also presented an invitation to the Idemitsu Kosan Chiba R&D Center to Mayor Lee. Idemitsu Kosan is a leading Japanese petrochemical and materials company with annual sales exceeding 70 trillion won.

Idemitsu Kosan is a leading Japanese petrochemical and materials company with annual sales exceeding 70 trillion won. The company primarily produces OLED materials and has recently expanded its product portfolio to include battery and semiconductor materials. It established Idemitsu Advanced Materials Korea, its first overseas sole R&D subsidiary, in Osan and plans to operate the R&D center in the Naesammi-dong area in the first half of next year. The R&D center will involve an investment of 29 billion won and is expected to create over 80 jobs.

To this end, the company held a working-level meeting with Osan City in April to discuss the construction of the R&D center.

Mayor Lee stated that the purpose of attracting foreign investment companies is ▲creating jobs for young people ▲laying the foundation for a self-sufficient economy, emphasizing, "Please prioritize Osan when linking employment creation for Osan’s talented youth and when preparing future additional investment plans."

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