[Companies Overcoming COVID-19] Kumho Petrochemical Group Strengthens Core Business Foundations and Prepares for New Opportunities

Kumho Petrochemical began mass-producing synthetic rubber (styrene-butadiene rubber) for the first time in Korea in 1973 at its Ulsan rubber plant, which currently focuses on producing high-performance synthetic rubber products.

[Asia Economy Reporter Hwang Yoon-joo] Kumho Petrochemical Group plans to strengthen its internal stability and continue its growth amid prolonged domestic and international uncertainties, such as the ongoing spread of the novel coronavirus disease (COVID-19) and the intensification of protectionism this year. As competition for survival among companies seeking new opportunities during the recession intensifies, Kumho Petrochemical Group also intends to leverage every opportunity to maximize profitability, focusing on its core businesses such as synthetic rubber and synthetic resin.

First, the group aims to maximize profitability centered on NB latex products, which are used as raw materials for latex gloves. To this end, it is maintaining a strong presence in the Southeast Asian market, particularly Malaysia where glove makers are located, while preparing for increased demand in the Chinese market, where hygiene-related needs are rising. The group is expanding sales of NB latex materials not only for existing medical gloves but also for industrial gloves that protect workers' hands in industrial settings, and is discussing product diversification according to usage purposes.

The solid synthetic rubber business also plans to continue its recovery trend from last year. In the high-performance product sectors of SSBR (Solution Styrene Butadiene Rubber) and NdBR (Ultra High Cis Polybutadiene Rubber), the group will expand sales through strengthened partnerships with global tire makers this year and build a portfolio focused on highly profitable products through next-generation product development.

New opportunities in the synthetic resin sector are also being highlighted. Key products include PS (Polystyrene) and ABS (Acrylonitrile Butadiene Styrene), which are essential next-generation plastics for lightweight materials and electronic components in the automotive industry, as well as engineering plastics (PS and ABS alloy products). Kumho Petrochemical Group plans to expand customer touchpoints focusing on products that are lightweight yet have excellent strength and durability, and actively respond to diverse market demands.