SEOUL, KOREA - Samyang Corp. will expand its ion exchange resin business by establishing a joint venture with Japan’s Mitsubishi Chemical. The company announced on January 14 that it will establish a joint venture “Samyang Fine Technology” with Japan’s Mitsubishi Chemical. It will be owned by the two companies on a 50:50 basis.
Samyang Fine Technology plans to set up a next-generation ion exchange resin plant in the Gunsan Free Trade Zone by the first half of 2015. It will have the capacity of producing 20,000 tons of ion exchange resin per year.
The next-generation ion exchange resin that will be produced by the joint venture will be used for the production of ultra pure water that is used for semiconductors and LCD, and water treatment for nuclear power plants.
A Samyang Corp. official said, “We expect our annual sales to grow by more than 100 billion won from 2015. We also expect to create an import substitution effect of more than 50 billion won.”
