Kumho Petrochemical researchers / Courtesy of Kumho Petrochemical
Kumho Petrochemical Group will strengthen its research and development capabilities to better respond to a bout of unexpected challenges amid rapidly changing business conditions, the firm said Thursday.
The group will prioritize sustainability as a new objective, targeting 12 trillion won ($9.1 billion) in sales, including 2 trillion won each from its green businesses and new businesses by 2026.
Its affiliates will strengthen high-value businesses, as well as gradually reduce the number of combustion engines in use.
"It is important to foster the firm's core capabilities to respond to changes and identify new areas of growth that can bring synergy when integrated with existing businesses," a Kumho official said.
Among key changes are reorienting the group's business portfolio to increase the proportion of carbon nanotubes that are used for the production of lithium-ion batteries in electric vehicles (EVs).
Carbon nanotubes have outstanding heat conductivity, electrical conductivity and mechanical properties.
They are believed to be the best electron field-emitter possible. They are polymers of pure carbon and can be made and manipulated using the recognized and extremely rich chemistry of carbon, according to experts.
Kumho will bolster research efforts to increase product quality including energy efficiency, thereby pushing up sales of rechargeable lithium batteries.
Also to be improved is the quality of engineering plastics, a key part in EVs as well as fuel cell EVs.
Kumho Mitsui Chemicals, the group's synthetic rubber affiliate, will speed up the development of technologies that can advance the quality of methylene diphenyl diisocyanate (MDI), a core raw material of polyurethane.
The affiliate recently developed a green technology for treating and recycling wastewater and byproducts generated from MDI production.
The feat will help the affiliate not only advance green objectives but also bolster productivity through cost reduction.
The technology will be fully applied to its MDI facilities to be expanded by 2023. (Advertorial)
