Hanwha Chemical was the first company in Korea to produce PVC, LDPE, linear low-density polyethylene, and chlor-alkali. Since our establishment in 1965, we have been manufacturing basic petrochemical products that have served as the foundation of different industries.
Hanwha Chemical has driven the growth of the Korean chemical industry, and our strategic investments to meet growing demand around the world have paid off. Our PVC plant in Ningbo, in China’s Zhejiang province, is currently going through continuous production process improvement to increase annual production capacity by 120% and is expected to produce 360,000 tons of PVC annually in 2015. We are also promoting an alkali soluble resin plant in Bang Phli, Thailand with an annual capacity of 17,000 tons. It will be our key post to enter Southeast Asian markets.
In addition, Hanwha Chemical was the first Korean petrochemicals company to tap new business opportunities in the Middle East. We signed joint venture contracts with International Polymers Company (IPC), a private petrochemical company in Saudi Arabia, and Gulf Advanced Cable Insulation (GACI) in 2011. In 2015, we have achieved cost reduction and economies of scale as the joint venture with IPC began to manufacture ethylene vinyl acetate (EVA), and low-density polyethylene (LDPE). With GACI,
we are producing wire and cable compounds. We have subsequently jumped to second place in EVA production capacity, securing our global competitiveness.
Hanwha Chemical is also expanding its global business to cover emerging future industries such as photovoltaics and nanotechnology. As part of Hanwha Group’s efforts to develop the photovoltaic business as a new future growth engine, we acquired global photovoltaic companies to enhance competitiveness. To enhance our upstream solar businesses, we built a polysilicon plant within the Yeosu National Industrial Complex with 10,000 tons of annual capacity and started production in early 2014.
We have been leveraging the advantages of our affiliated companies and making strategic investments to become a leading player in the global solar energy market. We will continue to invest in nanotechnology-based materials application technologies including carbon nanotubes and graphene.
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Our businesses now span the manufacturing, construction, finance, services and leisure industries.
Through the integration of our growing number of affiliate enterprises worldwide, we are harnessing the power of sustainable, quality growth to continually increase the value we bring to our customers.
- Hanwha General Chemical Hanwha General Chemical Co. was founded in 1974, and acquired by Hanwha Group in 2015. As the first company in Korea to domestically manufacture PTA, the main component material of polyester, Hanwha General Chemical has localized the production of raw materials for textile fiber production.
- Hanwha Total Petrochemical Hanwha Total Petrochemical , founded in 1988, has played a leading role in the development of the Korean petrochemical industry through continuous technological innovation and global market expansion. In 2003, Hanwha Total Petrochemical established the foundations for growth into a global energy and chemical company by forming a joint venture with Total Group, a French global energy and chemical company. It was newly integrated as an affiliate of Hanwha Group in 2015 and plays a pivotal role as Korea's largest chemical company.
- Yeochun NCC Yeochun NCC operates the world’s leading naphtha cracking facility in the Yeosu National Industrial Complex on the southern tip of the Korean Peninsula. Established in 1999 from the merger of naphtha cracking facilities owned by Hanwha and Daelim, this highly competitive 50:50 joint venture annually produces 1.91 million tons of ethylene, 970,000 tons of propylene, and 2.32 million tons of various petrochemical feedstocks, including benzene, toluene, xylene, styrene monomer, and butadiene.