SOLVAY made MOU contract for investment of 120 billion won into Saemanguem

'Saemanguem has been rapidly emerging as a mecca of Korean Cutting-edge Part Material Industry'

Confirmation of large-scales investment made by leading company of cutting-edge material industry enabled Saemanguem to emerge as a mecca of Korean Cutting-edge Part Material Industry. It is because SOLVAY, the world’s best cutting-edge material company located in Europe, confirmed to invest 120 billion won into 39,000 

Especially, this investment of SOLVAY is expected to be a growth engine for Korean Cutting-edge Material Industry as well as Jeollabukdo, as it forms integration of global cutting-edge material companies.

In addition, the current phenomenon (spurred investment) is translated as a meaning that "era of Saemanguem Investment" has begun. SOLVAY, a Belgian national company which touts 150 year's history, will be reborn as a Jeollabukdo company via Saemanguem investment. The company, which has 18 trillion won of yearly revenue and 30,000 employees, is a world -class company as it is equivalent with TORAY in Japan (20 trillion won revenue, 40,000 employees) and LG chemistry (20 trillion won revenue, 1,2000 employee) in terms of its size and revenue. SOLVAY plans to produce eco-friendly chemical material widely used from automobile parts to daily life via cutting-edge chemical material plant which will be built in Saemanguem.

In particular, Silica material produced by SOLVAY has been leading the market as it dominates the world’s market. Silica (a special material used for wear reduction and enhancement of gloss), known as a salt of chemical products, has been playing a main role in development of eco-friendly tire.