[Daily Economy]

KCMT, the world’s first eco-friendly alternative to reinforcing steel using waste plastic bottles, is a new material manufacturing company. 

In recognition of its contribution to the development of Ulsan through the construction of new factories and production facilities in Ulju-gun, KCMT announced on the 8th that it received commendations for its investment attraction at the "2022 Successful Investment Companies Conference."

Ulsan City's "2022 Successful Investment Companies Conference" is a place to share experiences and know-how between domestic and foreign investment companies and related organizations that contributed to revitalizing the local economy and creating jobs through active investment attraction.

Ulsan Mayor's commendation was awarded to those who have contributed to attracting domestic and foreign investment and hubization of small and medium-sized technology companies.

KCMT is Korea's No. 1 GFRP producer.GFRP is an eco-friendly plastic reinforced with glass fibers, weighing only a quarter of the weight compared to iron. However, the strength is more than twice as high, does not rust, and there is no thermal deformation, making it easy to process.Due to these characteristics, it has been widely used overseas for construction and civil engineering materials, automobile and aircraft parts, and safety helmets since 10 years ago. According to officials, KCMT is recognized in countries around the world as it has the best GFRP production technology in Korea and the only technology in the world, such as removing "styrene monomer (SM), a harmful chemical that has a fatal effect on the human body even with a small leak.

Last month (November) KCMT completed the construction of a 49,586㎡ plant in Ulju-gun's Energy Convergence General Industrial Complex. An official explained that this laid the groundwork for a leap forward to expand the global market.In addition, 80 KECO Bar production lines, including automation and localization of all factories, were established in the new factory to achieve annual sales of up to 220 billion won.The effect of creating jobs is expected to be significant.It has the effect of creating the employment of about 100 talents in Ulsan.

An official from Ulsan City explained, "KCMT's active efforts and corporate-tailored administrative support, such as solving difficulties directly from the business planning stage to the completion of the factory, led to investment attraction."

A KCMT official said, "It is meaningful that Ulsan City's active investment can contribute to revitalizing the local economy and creating jobs amid the global economic downturn," adding, "It is even more meaningful in that it has an opportunity to increase pride and belonging as an Ulsan company." 

Reporter Nam Gung Sun-hee: namkung.sunhee@mkinternet.com