Since the commencement of business with the production of Hydrocarbon resins in
1976,KOLON INDUSTRIES has expanded its line of business to more than 450 chemical products, including Phenolic Resins and Urethane Resins.
The launch of our business in 1976 coincided with the Government's new emphasis
on investment in heavy chemical industries for higher overall economic competitiveness of Korea. In appraisal of the thirty years history of KOLON INDUSTRIES,it will be
worthy to note that the Company played a central role in enhancing Korean export
competitiveness in relevant industries by raising the percentage of locally made
items, especially when the intermediate-goods industry remained weak. Painstaking
efforts were also made to manufacture good-quality products that compare
favorably with those made by world-class manufacturers.
The Petrochemical Industry Complex was established in Ulsan through Government
initiative to make Korea an export powerhouse with the development of the
capital/technology-intensive heavy chemical industry. In 1976, we established a
business in the Ulsan Petrochemical Industry Complex with the aim to produce
Hydrocarbon resin products with our own technology.
During the period, Korean economy made rapid progress through brisk exports and Yeosu Chemical Industry Complex was established. KOLON INDUSTRIES grew as a
leading export business based on the momentum gained in successful development of phenolic resin.
Chemical businesses vied with each other for large-scale expansion of their
production capacities, thus laying the groundwork for the national economy.
In the wake of the financial crisis, Asia economic crisis hit Korea in 1997 and 1998,
however, the chemical industry had to go through a process of restructuring as other industries did. Despite various difficulties, KOLON INDUSTRIES managed to overcome obstacles, pouring all possible efforts into development of new technology,
managerial innovation and internal restructuring, thus gaining momentum to
enhance its competitiveness.
At present, chemical businesses in Korea are accelerating their effort to make forays into overseas markets and expand their business scale in an attempt to cope with
competition from later starters, including BRICs and the Middle East countries,
mergers among the world's major chemical businesses, and the jump in crude oil
prices. KOLON INDUSTRIES is also following suit, having established a local phenolic
resin joint venture in Suzhou, China as a forward base for forays into overseas
markets, with the aim to be a Great Company with formidable competitiveness.
With our advanced technology, KOLON INDUSTRIES will make your life richer and
more vigorous.