Toray Advanced Materials Completes Saemangeum PPS Plant No. 2, Boosting Production to 13,000 Tons Annually

Toray Advanced Materials held a completion ceremony for its second polyphenylene sulfide (PPS) resin production plant in the Saemangeum National Industrial Complex in Gunsan, North Jeolla Province, and has commenced full-scale production. Key stakeholders attended the ceremony on October 31st to offer their congratulations. With the completion of Plant No. 2, Toray Advanced Materials has secured an annual PPS production capacity of 13,000 tons.

Saemangeum PPS Plant No. 2 Inaugurated, Production Capacity Expanded

Toray Advanced Materials invested a total of KRW 88.5 billion in the Saemangeum National Industrial Complex to construct PPS Plant No. 2. This investment is a strategic decision to address the increasing demand for high-performance engineering plastic PPS and ensure a stable product supply. With the completion of Plant No. 2, Toray Advanced Materials can now produce a total of 13,600 tons of PPS resin at its Gunsan plant.

PPS is a high-performance material boasting excellent heat resistance and chemical resistance. It is widely used in various industries, including automotive parts and electrical/electronic products. With the completion of PPS Plant No. 2, Toray Advanced Materials is now better positioned to actively respond to the rapidly increasing demand for PPS.

A representative from Toray Advanced Materials stated, "We will do our best to expand production capacity in line with the increasing demand for PPS resin and ensure a stable supply of high-quality PPS products." They added, "We will continue to invest and strive to establish the Saemangeum National Industrial Complex as a key base for PPS production."

Key Attendees and Congratulatory Remarks at the Completion Ceremony

Key figures including North Jeolla Province Governor Kim Kwan-young, Gunsan Deputy Mayor Kim Young-min, Saemangeum Development Agency Commissioner Kim Eui-kyeom, and National Assemblyman Shin Young-dae attended the completion ceremony to offer their congratulations. Key executives from the Toray Group, including Toray President Akihito Nikkaku, Toray Advanced Materials Chairman Motohisa Kuno, and President Kim Young-seop, also attended, adding significance to the completion of PPS Plant No. 2.

In his congratulatory speech, North Jeolla Province Governor Kim Kwan-young stated that the completion of Toray Advanced Materials' PPS Plant No. 2 would positively impact investment attraction in the Saemangeum region and the economic development of North Jeolla Province. Governor Kim expressed gratitude for Toray Advanced Materials' investment and pledged North Jeolla Province's support for the company's growth.

Saemangeum Development Agency Commissioner Kim Eui-kyeom stated, "Building on the successful investment of Toray Advanced Materials, which was the first foreign-invested company to move into the Saemangeum Industrial Complex, we will actively support more foreign companies to invest in Saemangeum." He emphasized, "Saemangeum will become a hub for global companies through improvements to the investment environment."

Expectations for Revitalizing Investment Attraction in the Saemangeum Industrial Complex

The completion of Toray Advanced Materials' PPS Plant No. 2 is expected to be a positive signal for investment attraction in the Saemangeum National Industrial Complex. Toray Advanced Materials has created a successful investment case by moving into the Saemangeum Industrial Complex as a foreign-invested company.

The Saemangeum Development Agency plans to actively promote Toray Advanced Materials' successful investment case and highlight the attractiveness of Saemangeum to potential investors. An official from the Saemangeum Development Agency stated, "Toray Advanced Materials' successful investment is an important example demonstrating the potential of investing in Saemangeum."

The Saemangeum National Industrial Complex is developing into a high-tech industry cluster thanks to active government support and investment attraction efforts. The completion of Toray Advanced Materials' PPS Plant No. 2 is expected to further enhance the growth potential of the Saemangeum Industrial Complex.

This investment by Toray Advanced Materials is also expected to contribute to regional economic revitalization and job creation. Toray Advanced Materials stated that it will cooperate with the local community to pursue sustainable growth and strive to fulfill its social responsibilities.