SM Kukil Paper Signs MOU for 20 Billion KRW Integrated Plant in Gumi

Establishment of a Specialty Paper Production Hub in the Gumi National Industrial Complex

Gumi City, North Gyeongsang Province, announced on the 12th that it had signed an investment memorandum of understanding (MOU) with SM Kukil Jeji Co., Ltd. and North Gyeongsang Province at the Four Seasons Hotel in Seoul.

On the day of the signing ceremony, TaeHyun Kang, CEO of SM Gukil Paper, Geumhee Yang, Deputy Governor of Gyeongbuk Province, Jangho Kim, Mayor of Gumi, and Jageun Gu, Member of the National Assembly, attended to pledge cooperation for attracting businesses and revitalizing the local economy, and took commemorative photos with related personnel.

Through this agreement, SM Kukil Jeji Co., Ltd. plans to secure a 13,000-pyeong site within the Gumi National Industrial Complex and invest 20 billion KRW to establish a state-of-the-art integrated factory.

The signing ceremony was attended by Kang Taehyun, CEO of SM Kukil Jeji, Yang Geumhee, Deputy Governor for Economic Affairs of North Gyeongsang Province, Kim Jangho, Mayor of Gumi, and Koo Jagun, National Assembly member, who pledged cooperation for attracting businesses and revitalizing the local economy.

◆ Focusing on Special Paper Production to Strengthen Domestic and Global Market Competitiveness

SM Kukil Jeji Co., Ltd., an affiliate of SM Group, is a company with strengths in the production of high-performance specialty papers, including ultra-thin paper.

With this investment, the company plans to cease industrial paper production at its existing Asan plant and foster Gumi, together with the Yongin plant, as a core hub for specialty paper manufacturing. In particular, it aims to accelerate next-generation technology development through synergy with its subsidiary, Kukil Graphene.

◆ Expectations for Revitalizing the Local Economy and Creating Jobs

Kang Taehyun, CEO of SM Kukil Jeji, stated, "By establishing a new base in Gumi, we will further strengthen the global competitiveness of the specialty paper industry," adding, "We will do our best to achieve mutual growth with the local community in cooperation with Gumi City."

Kim Jangho, Mayor of Gumi, emphasized, "SM Kukil Jeji Co., Ltd.'s investment decision will greatly contribute to enhancing Gumi's industrial competitiveness and creating quality jobs," adding, "We will spare no effort in providing active support so that companies can settle stably."