South Korean firm joins carbon fiber market

Hyosung Corp., based in Seoul, will spend $231 million by 2013 to establish a carbon fiber manufacturing plant with annual capacity of 2,000 tons. The company plans to produce 17,000 tons annually by 2020.

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The Korea Times on June 14 reported that Hyosung Corp. (Seoul, South Korea), a textile and chemical company, will begin manufacturing carbon fiber. The report says Hyosung plans to invest up to 250 billion won ($231 million) by 2013 to establish carbon fiber factories in Jeonju, about 200 km south of Seoul, with an annual capacity of 2,000 tons.

"A small number of manufacturers have the technology to make carbon fibers such as Toray of Japan and Hexcel of the U.S. Based on more than three years of research, we have now joined their ranks," Hyosung spokesman Han Chang-suk said in the report. "In order to carve out a substantial part of the rocketing demand for carbon fiber, we are poised to channel a total of 1.2 trillion won by 2020, with the aim of churning out 17,000 tons by then."

Hyosung’s target markets for its carbon fiber include aerospace, robotics, wind turbines and sports equipment. "The functionality of our products just falls short of the world’s most advanced ones currently available," Han said. "We will maintain our efforts to come up with the best products."

Click here for original Korea Times report.