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Hyosung Co., Ltd. recently announced that its carbon fiber factory located in the southeast of Jeonju city, South Korea will be put into operation in the middle of April. The annual output is expected to reach 2000 tons.
The next step, company will also invest 1.2 trillion Won (US$ 1.1 billion) to expand its own brand Tansome carbon fiber production capacity. The production is expected to achieve annual output capacity of 17000 tons in 2020.At present, the Japanese carbon fiber companies represented by Tory and Mitsubishi have accounted for 60% of the global market. According to market observers’ prediction, the global carbon fiber market is about US$ 2 billion or 50000 tons. And the market size will reach US$ 5 billion by the year 2020.About Hyosung Corporation:Hyosung Corporation, Seoul S Korea is a new entrant to the carbon fiber business. It is a Korean industrial conglomerate, founded in 1957. It operates in various fields of activities, including the chemical industry, industrial machinery, IT, trade, and construction. In composite field of activity their product portfolio includes high strength and intermediate modulus carbon fibers and new additional fibres being developed which will be added to their product range in the near future. Its CEO is S. R. Cho (조석래).More information:www.hyosung.comOriginal language Chinese