Kolon Industries to establish joint venture with investment company to compete with Chinese-made industrial films = South Korea

Kolon Industries, a major chemical materials company, is collaborating with SK Micro Works, a subsidiary of Hahn & Company, an investment company that operates a private placement fund (PEF), to manufacture industrial films.
announced that they have signed a binding memorandum of understanding (MOU) to establish a joint venture. Both companies will each invest in a joint venture company in some of their main businesses, such as industrial films.
It is said that adjustments are being made. Discussions are continuing with the goal of concluding this agreement during the January-June period. Prior to this, Hahn & Company announced that in 2022, the film division of SKC, a major chemical materials company, will
(currently SK Micro Works). If the joint venture is established this time, management rights will be held by SK Micro Works.
Kolon Industries was initially considering selling its film business.
This was because the film business continued to perform poorly as the market was taken over by low-priced Chinese products. In fact, Kolon Industries' film and electronic materials business totaled 17.7 billion won in the July-September period of last year.
The company recorded a deficit of approximately 1,999,830,000 yen). Through the joint venture, Kolon Industry and SK Micro Works will focus on investing in securing manufacturing technology for eco-friendly materials. Low price
By joining forces in the film market, where Chinese-made films are dominant, the two companies aim to secure competitiveness in the field of high-value-added materials.