Toray Group (Tokyo) plans to invest 500 billion won in the Gumi National Industrial Complex in South Korea by 2025 to expand its business for sustainable growth. Toray and Toray Advanced Materials Korea (TAK) signed an investment memorandum of understanding (MOU) related to high-performance carbon fiber, aramid fiber and eco-friendly materials with the Ministry of Trade, Industry and Energy, Gyeongsangbuk-do, and Gumi City.
TAK decided to invest in the expansion of Carbon Fiber Unit 3, with an annual capacity of 3,300 tons, at Gumi Plant 4 last year and is currently carrying out construction of the expansion with the goal of operating in the second half of 2025. Once the expansion is completed, it will secure a production capacity of 8,000 tons per year.
At Gumi Plant 1, the second production facility for aramid fiber, which is using the dry-spinning method, will be expanded with an annual production capacity of 3,000 tons. Aramid fiber, which has excellent heat resistance, tensile strength, and electrical insulation, is a super fiber that is 5 times stronger than steel and can withstand temperatures as high as 500 degrees, and demand is increasing in various industries such as electric vehicle drive motors, heat-resistant protective clothing, and ultra-high voltage transformers.
Toray Advanced Materials Korea(TAK) plans to expand its global market share by increasing its cost and quality competitiveness by securing an annual production capacity of 5,000 tons, including this expansion.
In addition, TAK plans to accelerate its efforts to secure new growth engines by expanding eco-friendly materials business in high-growth and high-tech industries such as semiconductors, batteries, displays, and next-generation mobility.
Kim Young-seop, CEO of TAK, said “TAK will continue to expand the business focusing on eco-friendliness and high functionality and create newly added values in response to the rapidly changing materials industry.” He added that “This investment will not only create jobs, but also contribute to the local economy and related industries as TAK will strive to continue the development.”