Kumho Petrochemical Launches NB Latex Expansion Project

Establishing a Cooperation System with Ulsan City During the NB Latex Expansion Process

[Asia Economy Reporter Hwang Yoon-joo] Kumho Petrochemical announced that it has signed a Memorandum of Understanding (MOU) with Ulsan City Hall to expand NB latex production facilities. This MOU follows Kumho Petrochemical's earlier public announcement in June regarding a plan to establish new NB latex production facilities with an annual capacity of 240,000 tons, involving an investment of 256 billion KRW within the Ulsan Petrochemical Complex.

According to the MOU, Kumho Petrochemical and Ulsan City Hall have agreed to actively cooperate to ensure the successful expansion of NB latex production. Kumho Petrochemical aims to contribute to regional economic revitalization, including job creation, through this expansion investment. Ulsan City has pledged administrative support such as permits and approvals related to the investment.

Upon completion of the expansion by the end of 2023, Kumho Petrochemical's annual NB latex production capacity will increase from the current 710,000 tons to 950,000 tons, with plans to consider further expansions depending on demand conditions.

Kumho Petrochemical intends to further strengthen its competitive edge in the NB latex market. In line with the global rise in hygiene awareness and increasing demand for medical gloves, the company plans to proactively secure production capacity and continue active research and development activities to ensure superior quality compared to competitors.

Baek Jong-hoon, CEO of Kumho Petrochemical, stated, "Through mutual cooperation with Ulsan City, Kumho Petrochemical will successfully carry out this investment and solidify its status as a global leader in the NB latex sector."