[Asia Economy Reporter Hyungsoo Park] The stock price of Kyungin Yanghaeng has continued its strong upward trend this month. This appears to be influenced by its main affiliate's decision to produce 'EnviraTex,' a medical glove material whose demand surged due to the COVID-19 pandemic. The stock price has steadily risen by about 16% this month.
As of 10:42 AM on the 20th, Kyungin Yanghaeng is trading at 6,900 KRW, up 10.22% from the previous trading day.
Earlier this month, Ulsan City signed a memorandum of understanding with JMC to invest in a new production facility for ADPOS, the key raw material of EnviraTex (NB-LATEX). JMC plans to establish an ADPOS production facility with an annual capacity of 4,500 tons in the Onsan Industrial Complex, Ulju-gun, to supply EnviraTex manufacturers.
EnviraTex is an eco-friendly material that does not emit volatile organic compounds. It is increasingly replacing natural latex and gaining significant popularity as a medical glove material, whose demand surged amid the COVID-19 outbreak.
JMC plans to complete the ADPOS production facility by June 2023, constructing a building with a total floor area of 1,243㎡ on a 92,672㎡ vacant lot near its existing factory. JMC is a key affiliate of Kyungin Yanghaeng, which holds core technologies for two semiconductor material items (ultraviolet photoresist and fluorine polyimide) that Japan has restricted exports of to Korea. Established in 1953 in Busan, it relocated to Ulsan in 1980.
JMC was the first in Korea to successfully produce saccharin and currently produces high-purity saccharin without impurities, exclusively supplying companies such as Coca-Cola and Pfizer. Additionally, it exclusively produces BCMB, a semiconductor material, domestically and exports the entire production volume.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
