Kolon Plastic Changes Company Name to 'Kolon ENP'

CEO Heo Seong of Kolon Plastics, which is newly starting as 'Kolon ENP' (third from the left in the front row), and employees are introducing the new company name on the 14th at Kolon Tower in Gwacheon-si, Gyeonggi-do. Photo by Kolon

원본보기 아이콘

Kolon Plastics, a specialized company in industrial engineering plastics, is rebranding as 'Kolon ENP' and making a fresh start. On the 14th, Kolon Plastics announced through a notice of shareholders' meeting that it will propose an amendment to the articles of incorporation, including the name change. If the agenda is approved at the regular shareholders' meeting on the 29th, the name change to Kolon ENP will be finalized.

The new name Kolon ENP is an acronym for Empowering, New, and Possibility. It embodies the company's vision to create new possibilities for a sustainable future through advanced cutting-edge technology.

A Kolon Plastics representative explained, "It reflects our commitment to contribute to building a circular economy ecosystem by enhancing product sustainability through eco-friendly technology and to achieve mutual growth by providing optimal solutions to our customers."

Furthermore, through this name change, the company aims to transcend the limitations conveyed by the word 'plastics' and leap forward as a future advanced materials company. The engineering plastics produced by Kolon Plastics are industrial materials, not single-use plastics used in daily life, and contribute to environmental protection as high-performance eco-friendly products that replace metals.

Meanwhile, the company was established in 1996 as a joint venture with Toray under the name 'KTP,' and changed its name to Kolon Plastics in 2008 after the joint venture was dissolved. Since then, it has achieved continuous growth by expanding overseas high value-added markets through global major customers and advancing its product portfolio with high-performance materials for next-generation mobility and high value-added medical products. Based on accumulated competitiveness, Kolon Plastics achieved its highest performance in 2022 by surpassing 500 billion KRW in sales for the first time since its founding. Despite the global economic downturn last year, it recorded an operating profit of 33.8 billion KRW.

Recently, Kolon Plastics has been focusing on strengthening market competitiveness through sustainable management strategies, such as establishing an eco-friendly material supply chain using raw materials based on waste resources and securing clean raw materials for carbon neutrality and low-carbon product development.

CEO Heo Sung said, "Sustainability is a core strategy to strengthen the company's competitiveness. This year, we plan to realize practical ESG management by publishing a sustainability management report and launching an eco-friendly product brand ('ECHO'). Through this, we will create a future where society and humanity can be happy as an eco-friendly total solution partner that can continue to the next generation."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.