ULSAN < invest Korea

Foreign-invested company Tongsuh Petrochemical Corporation completed its fourth acrylonitrile production plant in Ulsan on April 12. The company invested KRW 200 billion in building the plant, which has an annual production capacity of 245,000 tons, on a 158,000㎡ site.

Demand for acrylonitrile, a raw material used for the production of acrylic synthetic resin and synthetic textiles, has been on the rise. With the completion of the new plant, the company's annual acrylonitrile production capacity has increased to 545,000 tons, up from 300,000 tons.

Tongsuh Petrochemical Corporation is a foreign-invested company established by Japan’s Asahi Kasei Chemicals Corporation, which is capable of producing the largest and second largest amount of acrylonitrile in Asia and the world, respectively.

The building completion ceremony was attended by 300 representatives from various organizations, including the Ulsan City Government, the Ulsan Metropolitan Council, and the Ministry of Trade, Industry and Energy. Ulsan expects the new plant to strengthen the city’s reputation and revitalize the local economy.

Source: Yonhap News (Apr. 11, 2013)

** This article was translated from the Korean.