Toray Advanced Materials Korea Inc. (TAK), the South Korean subsidiary of the renowned Japanese chemical conglomerate Toray Group, marked a pivotal moment by commencing the construction of its cutting-edge carbon fiber production facility in Gumi, North Gyeongsang Province. This remarkable initiative took place on Monday, signifying TAK’s dedication to advancing the domain of carbon fiber production and its diverse applications.
Carbon fiber, a lightweight and high-strength material, plays a pivotal role in the creation of an array of products, ranging from high-pressure vessels for hydrogen storage and components for aircraft, to racing car bodies and golf club shafts. TAK’s new facility, its third dedicated to carbon fiber production, is poised to significantly bolster annual manufacturing capacity in South Korea by an impressive 3,300 tons, ultimately reaching an annual output of 8,000 tons. This expansion underscores TAK’s commitment to meeting the burgeoning demand for carbon fiber in various industries.
Notably, TAK specializes in the production of a wide array of special materials, including industrial films, carbon fibers, water treatment filters, and resin chemicals. Their foray into carbon fiber production began in 2013, representing a strategic diversification of their product portfolio.
Founded in 1972, TAK has demonstrated its dedication to the industry through substantial investments exceeding $1 billion, which have been channeled into the manufacture of materials such as engineering plastics, wallpapers, and car dash pads.
The significance of this endeavor extends beyond the realm of business, as TAK envisions a promising future for carbon fiber. It anticipates the growing demand for this versatile material, which stands to revolutionize the manufacturing of lightweight hydrogen vehicles and aircraft, ultimately contributing to the reduction of carbon emissions – a critical global imperative.
The groundbreaking ceremony, held on October 23, was attended by distinguished figures, including Deputy Minister for Trade Yang Byeong-nae, North Gyeongsang Province Governor Lee Cheol-woo, Gumi Mayor Kim Jangho, Toray Industries Inc.’s Chairman Nikkaku Akihiro and President and CEO Ohya Mitsuo, TAK Chairman Lee Young-kwan, and CEO Jeon Hae-sang. Their presence underscored the significance of this endeavor and its impact on the local and international fronts.
Deputy Minister Yang emphasized the government’s commitment to supporting foreign investments in South Korea’s high-tech industry through regulatory reforms and expanded incentives, reaffirming the collaborative nature of such undertakings.
CEO Jeon expressed TAK’s dedication to creating value by leveraging world-class technologies and qualities, all while maintaining close cooperation with partners and contributing to local economic revitalization. This venture holds the promise of shaping the future of carbon fiber production and its applications on a global scale.