Approximately Double the Scale Compared to Iksan Factory
Kim Tae-hyung, President of Solus Advanced Materials, along with key executives, is holding a groundbreaking ceremony for a new factory at the Hamyeol Complex in Iksan, Jeollabuk-do, and taking a commemorative photo. Photo by Solus Advanced Materials
Solus Advanced Materials is doubling the size of its OLED (Organic Light Emitting Diode) display materials production plant by relocating its factory in Iksan, Jeonbuk.
On the 24th, Solus Advanced Materials announced that its groundbreaking ceremony was held at the new site in the Hamyeol complex in Iksan, Jeonbuk, attended by key executives including President Kim Tae-hyung.
The Hamyeol complex houses the non-emissive materials (polymer materials) factory of Solus Advanced Materials' subsidiary, Solus I-Tech, which was completed last year. Solus Advanced Materials plans to relocate its current emissive materials (organic materials) production plant in Iksan to Hamyeol, establishing a strategic OLED materials production base encompassing both emissive and non-emissive materials.
The new production facility will cover a total building area of 5,736㎡, including factory buildings, synthesis buildings, office buildings, and utility buildings. This is about twice the size of the current Iksan plant located in the Iksan 2nd General Industrial Complex, which has a building area of 2,891㎡. The company plans to upgrade the entire facility and manufacturing process by supplementing and newly installing production equipment, auxiliary facilities, and environmental and safety management systems.
Solus Advanced Materials completed the purchase of the site in February. Construction began this month with the goal of completion by the end of 2025, and mass production is planned to start in early 2026.
Support from the central government and local authorities is also expected. To secure investment subsidies from KOTRA, Solus Advanced Materials recently signed a memorandum of understanding (MOU) on investment subsidies with Iksan City and the Jeonbuk Provincial Government.
Kim Tae-hyung, President of Solus Advanced Materials, stated, "This expansion and relocation project will be an important milestone that brightens the future of Solus Advanced Materials through proactive investment in response to market growth and expansion. We aim to establish a strategic production base covering both emissive and non-emissive materials to respond to changes in the OLED market and prepare for future business development and expansion."
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