KCMT invests 46.3 billion KRW in Energy Convergence Industrial Complex in Seosaeng-myeon, Ulju-gun
Expected to create 100 jobs
Completion of the KCMT facility for the 'Eco-friendly Glass Fiber Composite Reinforcement Bar (KEco Rebar) Production Plant' within the Energy Convergence Industrial Complex in Seosaeng-myeon, Ulju-gun.
[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] An ‘Eco-friendly Glass Fiber Composite Reinforcement Bar (KEco Rebar) Production Plant’ will be completed in Ulsan.
KCM T will hold a completion ceremony for the ‘Eco-friendly Glass Fiber Composite Reinforcement Bar (KEco Rebar) Production Plant’ at 3 p.m. on the 15th in the Energy Convergence Industrial Complex in Seosaeng-myeon, Ulju-gun.
With the completion of this plant, KCM T will establish a stepping stone for expanding its presence in the global market.
KCM T plans to relocate both its headquarters and factory, currently located in Busan, to Ulsan.
From the project planning stage to the plant’s completion, Ulsan City actively identified and resolved difficulties and provided customized administrative support for the company, which led to this successful investment attraction.
About 100 people, including KCM T CEO Kim Jun-young, SK Eco Plant BU Head Cho Jung-sik, Ulsan City Economic Investment Attraction Director Jeong Ho-dong, Seo Beom-su National Assembly member’s office Secretary General Yoon Hee-seop, and employees, are expected to attend the completion ceremony.
KCM T invested a total of 43.8 billion KRW to build the plant on a land area of 37,377㎡ with a total floor area of 25,520㎡, starting construction in April 2022.
The ‘Eco-friendly Glass Fiber Composite Reinforcement Bar’ is an eco-friendly plastic reinforced with glass fiber. Compared to steel, it weighs about one-quarter but has more than twice the strength, does not rust, has no thermal deformation, and is easy to process.
Overseas, it has been used for more than 10 years in construction and civil engineering materials, automobile and aircraft parts, safety helmets, and is expected to see steady demand growth in new industries such as wind energy, electronics, and transportation.
It is expected to rapidly replace steel reinforcement bars widely used in the existing construction sector.
Compared to the steel reinforcement manufacturing process, it emits more than 40% less carbon dioxide (CO2), and by using raw materials recycled from waste PET, it realizes ESG management through eco-friendliness and resource circulation.
CEO Kim Jun-young said, “At a time when carbon neutrality is a key issue, we can stably secure raw materials by recycling waste PET, and due to excellent productivity, we have sufficient price competitiveness compared to steel reinforcement prices. We plan to diversify products and gradually increase local jobs through future business expansion.”
Jeong Ho-dong, Director of Economic Investment Attraction at Ulsan City, said, “We are very pleased to attract both the headquarters and factory of a company like KCM T, which has excellent technology and competitiveness in resource recycling and eco-friendly new material production, to Ulsan. We will do our best to provide administrative support so that it can take root stably in Ulsan and grow into a global company.”
Ulsan City and KCM T signed a memorandum of understanding for investment in the ‘Glass Fiber Reinforced Plastic Material Rebar Production Plant’ at the city hall situation room on January 6 this year.
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