Toray to invest 500 billion won in Korea's carbon fiber sector by 2025 - Korean media

Toray and its Korean subsidiary, Toray Advanced Materials, in cooperation with the Ministry of Trade, Industry and Energy of the Republic of Korea, North Gyeongsang Province, and Gumi City, have signed a memorandum of understanding (MOU) to develop high-performance carbon fibers, aramid fibers, and eco-friendly materials.
Toray Advanced Materials announced that it has signed a memorandum of understanding (MOU) with the aim of investing in this growth area. In 2023, Toray Advanced Materials plans to build a third carbon fiber manufacturing facility with an annual production capacity of 33 million tons at its Gumi 4th Plant.
The company plans to invest in additional machines, aiming to start operations during the June-December period of 2025, and once complete, production capacity will reach 8,000 tons.
The Gumi No. 1 Plant will have an annual production capacity of 3,000 tons and will add a second dry spinning aramid fiber production facility. This will increase Toray Advanced Materials' annual production capacity.
The total production volume will be 5,000 tons, including the portion for installation. The company plans to increase its competitiveness in terms of price and quality and expand its market share worldwide. In addition, the company plans to expand its market share in the rapidly growing fields of semiconductors, batteries, displays, and next-generation mobility.
Toray plans to accelerate the acquisition of core businesses by expanding its eco-materials business in the growing cutting-edge industrial field.
Since entering the Korean market in 1963, the company has invested a total of more than 5,000 trillion won (approximately 572.7185 trillion yen).