BKMSOL to Invest KRW 8.3 Billion in Pohang Convergence Technology Complex Factory with MOU Signed

On April 20, the Daegu Gyeongbuk Free Economic Zone Authority (DGFEZ), with Acting Head Kang Sanggi, and Pohang City signed a memorandum of understanding (MOU) with BKM SOL Co., Ltd. at the DGFEZ Business Room to build a manufacturing facility within the Pohang Convergence Technology Industrial Complex.

Under this agreement, BKM SOL Co., Ltd. plans to invest 8.3 billion won from 2026 to 2030 to establish a manufacturing plant for alloy powders and wire rods on a 10,196-square-meter site in the Pohang Convergence Technology Industrial Complex.

BKMSOL CEO Choi Wonsu (center) is taking a commemorative photo holding a memorandum of understanding with Kang Sanggi, Acting Head of Daegu-Gyeongbuk Free Economic Zone Authority (right), and Seo Hyunjun, Manager of Pohang City Investment Support Division.

원본보기 아이콘

Founded in 1998, BKM SOL Co., Ltd. is a promising company that has built its capabilities in the field of special alloy steel. The horizontal continuous casting (HCC) method to be adopted through this investment is considered an innovative technology that will significantly enhance the competitiveness of Korea's metal materials industry.

The horizontal continuous casting method is an advanced process in which molten metal is drawn horizontally and cooled and solidified. Unlike the conventional vertical casting method, it is less affected by gravity, resulting in fewer impurities inside the metal and a highly uniform and dense structure. Products manufactured using this method have significantly improved wear resistance and weldability compared to existing products.

Furthermore, this process dramatically eliminates or minimizes the costly and complex subsequent rolling steps, thereby reducing production time and increasing productivity. As a result, it is expected to secure over 30% price competitiveness compared to imported products. The company plans to actively pursue not only import substitution in the domestic market but also exports to global markets such as Southeast Asia, Europe, and the Americas.

Kang Sanggi, Acting Head of Daegu Gyeongbuk Free Economic Zone Authority, stated, "We welcome the investment of BKM SOL Co., Ltd., which possesses core material manufacturing technology, in the Pohang Convergence Technology Industrial Complex." He added, "Localization of materials through the unique HCC process is expected to greatly contribute to strengthening national industrial competitiveness and revitalizing the local economy." He further emphasized, "The Daegu Gyeongbuk Free Economic Zone Authority will provide all necessary administrative support to ensure companies can settle stably and grow into globally competitive small giants."

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