KCMT Signs Main Contract with Philippine LCS, Targeting Southeast Asia as a 'First Mover'

- KCMT's Proactive Response Plan to the Explosive Global GFRP Market Outlook
- Expansion of Philippine Production Facilities, Local Agreements, Institutional Cooperation, and Southeast Asia Exports

On the 22nd (local time), Kim Jun-young, CEO of KCMT (third from the left), and Sabitsingson, Chairman of the Philippine LCS Group (second from the left), shaking hands and taking a photo after signing a contract with the Philippine LCS Group. [Provided by KCMT]

KCMT, an eco-friendly rebar substitute manufacturer, announced on the 22nd (local time) at 11 a.m. that it signed a main contract with the Philippine conglomerate LCS Group to establish KEco (GFRP Bar) production facilities in the Philippines, secure usage certification from the Philippine Department of Public Works, and handle production, import sales, and exports to Southeast Asian countries. About 10 representatives from both companies, including KCMT CEO Kim Jun-young and LCS Group Chairman Sabitsing Son, attended the signing ceremony.

Regarding the contract with the Philippine LCS Group, KCMT explained, "Establishing and securing production facilities is essential to strengthen our leadership in the rapidly growing GFRP construction market in the Philippines and to actively respond to the quickly evolving Southeast Asian GFRP construction market."

KEco, an eco-friendly rebar substitute made from recycled PET bottles and the world's first upgraded GFRP Rebar, boasts outstanding durability due to KCMT's unique technology. It is receiving global construction market attention as a construction material that improves productivity, reduces costs, lowers carbon emissions, and ensures safety against major accidents.

A KCMT official stated, "The KEco plant in the Philippines is scheduled to begin full-scale production in the second half of 2024, and LCS Group is also considering plans to further expand the plant's production capacity through phased facility improvements." Through this, KCMT aims to proactively meet the demand of the explosive global GFRP market in the Philippine construction sector and lead the Southeast Asian construction market as a 'first mover.'

LCS Group is a major Philippine conglomerate holding company with about 10 subsidiaries engaged in real estate development, aviation, defense industry, telecommunications, mining, transportation, and entertainment businesses. Established its Korean branch in 2021 and is conducting various businesses with Korean companies. Currently, LCS Group is focusing on the Ilocos Sur comprehensive development project and the MetroWalk development project, the largest single mixed-use complex development in the Philippines.