The Korean chemical industry has had a hard time due to uncertainties in the global economy, the acceleration of competition caused by China’s facility expansion, and stringent global environmental regulations. During a ceremony to mark the seventh anniversary of Chemical Industry Day, Korean chemical companies pledged to implement such aggressive steps as the securing of technological competitiveness, cultivating of gifted manpower and voluntary restructuring to cope with the stark reality of the industry.
Among roughly 400 people on hand at the anniversary event held at Lotte Hotel in downtown Seoul on Oct. 30 were Deputy Minister for Industry Policy Park Il-joon of the Ministry of Trade, Industry and Energy (MOTIE) and Chairman Huh Soo-young of the Korea Petrochemical Industry Association (KPIA), currently president of Lotte Chemical.
While delivering his commemorative speech, MOTIE Deputy Minister Park said, “The government plans to provide policy support to ramp up fundamentals of the Korean chemical industry by seeking to introduce a special act aimed at enhancing the vitality of companies.” He added, “Growth based on scale expansion has hit a wall due to the exacerbating of a regional supply glut, caused by the rapid rising of emerging countries, including China and India.”
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Deputy Minister for Industry Policy Park Il-joon of the Ministry of Trade, Industry and Energy gives a speech at the 7th Chemical Industry Day anniversary event.(Photos:KPIA)
Deputy Minister Park stressed that the government will provide such support as the provision of tax exemptions for R&D on proprietary technologies, and the establishment of value-added, functional chemical clusters and the building of a joint pipeline for chemical complexes.
The Order of Industrial Service Merit, Silver Tower went to Kolon Industries Executive Vice President Sung Ik-kyung for his pivotal role in developing and commercializing a process of major petrochemical resin products, which lead to it becoming No. 1 in Korea and No. 3 in the world. The feat had an effect of substituting imports worth 100 billion won annually and improving trade surplus worth 400 billion won.
Vice President Chun Byung-do of Lotte Chemical received the Order of Industrial Service Merit, Bronze Tower for his role in enhancing the efficiency of producing petrochemical products through production stabilization; ramping up technological competitiveness of the Korean petrochemical industry through the development of food and medical products; and improving of trade balance.
Kwangjin Chemical President Kang Kyung-hee was honored for developing a technology of enriching and dividing ammonium dihydrophosphate, phosphoric acid and acetate in complete reuse for fire-fighting devices from waste phosphoric acid, waste alkali, and waste sulfuric acid emitted from fabrication of electronics and semiconductors and metallic and aluminum grinding, contributing to the development of the chemical industry and preventing of environmental pollution.
APEC President Shim Myung-shik and LG Chem researcher Choi Young-jin was presented with the Presidential Award. APEC President Shim has been credited with developing an eco-friendly water-based acrylic synthetic resin, making a feat of exporting 1.5 billion won worth of resin and substituting some 7 billion won worth of imports.
The Chemical Industry Day anniversary event coincided with the 12th Chemical Frontier Festival.
Among the winners of the 12th Chemical Frontier Festival were Kim Ju-rae, a teacher of Seoul Science High School, and students Kim Jin-ho and Yang Suh-yeon, who received the newly inaugurated Prime Minister’s Award. Chung Na-jin, a teacher of Gyeonggi Science High School and his students, Lee Joong-won and Kim Do-woon, received the Education Minister’s Award while Koo Sang-woo, a teacher of Hyundai Cheongwoon High School, and his students, Cho Hyun-gyu and Song Hyun-mi, were presented with the Minister of Trade, Industry and Energy’s Prize.
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