BGF Eco Materials and Hwasung Materials Sign Business Agreement... "Joint Research on Eco-Friendly Materials"

Cooperation on Future Composite Product Commercialization and More

Representatives from BGF Eco Materials and Hwasung Materials are taking a commemorative photo after signing a business agreement. (Photo by BGF Group)

[Asia Economy Reporter Lim Chun-han] BGF Eco Materials announced on the 9th that it has signed a joint research and development agreement for future composite materials and eco-friendly materials with Hwaseung Materials, a precision chemical company.

The two companies plan to carry out ▲ joint technology research for the development of functional composite materials ▲ development of future composite design technology and productization technology ▲ development of environmentally safe specialized materials ▲ expansion of business opportunities linked to global bases.

BGF Eco Materials is a specialized manufacturer of high-performance engineering plastic compound materials, possessing a diverse product portfolio ranging from general-purpose PP to PA6/66, PBT, mPPO, and is expanding its scope with high-performance product lines such as LFRT and fiber-reinforced UD-Tape. It also commercialized bioplastic foaming technology for the first time and continues to accumulate bioplastic compound technology, applying it to consumer products.

BGF Eco Materials and Hwaseung Materials aim to combine the capabilities of their respective group companies to create synergy through comprehensive collaboration, discovering new business opportunities in high value-added industries and enhancing competitiveness as a national industry. To this end, they plan not only to conduct experimental development or modification application of material products but also to establish an R&D strategic council from a mid- to long-term perspective to replace or preoccupy the market through productization and continuously upgrade it.

A BGF Group official said, “Through this strategic business alliance, we will be able to establish a mutually sustainable growth foundation such as technological innovation and business area expansion,” adding, “We will continue active R&D investment and build cooperative systems both within and outside the industry to further enhance our status in overseas markets beyond Korea.”