Senior Executive Vice President Jeon Hae-sang of Toray Advanced Materials Korea

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enior Executive Vice President Jeon Hae-sang of Toray Advanced Materials Korea has been promoted to president & chief operating officer (COO). 

The reshuffle involved the promotions of 13 executives, including Jeon.

The promoted executives of Toray Advanced Materials Korea include Executive Vice President Lee Seong-hoon, managing vice president Koh Hyung-seok. The promoted executives of Toray Chemical include Managing Vice President Lee Moon-bo, Managing Vice President Kim Kang-jin, and Managing Vice President Kwak Ki-won.

Jeon took office as COO effective March 1. The graduate of Hanyang University Chemical Department in 1983 obtained a master’s degree in chemistry from KAIST in 1987 and a doctorate from the same university in 1994. 

In 1993, Jeon entered Jeil Synthetic. He held major positions at the company, including chief of the New Business Development Team, and IT Material Business Division and the head of the Resin Chemical Business Division. 

He has been credited with solidifying Toray Advanced Materials Korea with excellent performances since 2015 when he was appointed to be senior executive vice president & COO. “Toray Advanced Materials Korea ‘s going to secure new growth engines and accelerate global growth through radical reform and challenging spirit despite rapidly changing business environment with President & COO Jeon as a focus, a company official said. 

Toray Advanced Materials Korea’s booth INDEX 2017 in Geneva.

Toray Advanced Materials Korea’s Attendance in INDEX 2017 in Geneva

Toray Advanced Materials Korea participated in the INDEX 2017 in Geneva, Switzerland, from April 4 to 7 to show its “extraordinary” nonwoven products and technologies. 

Through the exhibition, Toray Advanced Materials Korea and its products were introduced to buyers and industry-related people, who showed interest in the company’s exhibits that were produced with “Asia’s No. 1 nonwoven technology,” Toray said in a statement. Almost 600 companies participated in the INDEX 2017, the largest nonwoven exhibition in the world.

Toray Advanced Materials Korea and Toray Chemical Korea kicked off the new year with meetings at Gumi Jan. 2 and in Seoul the following day. 

Chairman Lee Young-kwan said this year would be “the year of restructuring for income maximizing, acquiring the long-term competitiveness.” He expressed his expectation that this year would one in which every business channel promotes aggressive strategies. He also emphasized moral standards, harmonious union-management relationship and especially a strong safety-first mindset to prevent accidents.

Vice Chairman Matsumura said that he hoped the company makes leading proud. 

Jeon Hae-sang, CEO of Toray Advanced Materials Korea, said, “We would be the positive changes in the company and society.” Lim Hee-seok, CEO of Toray Chemical Korea, said, “A strong will could make anything we want as real things. All of the participants promised to “make 2017 as growing and sweet year with all of us.”

Toray’s 4th Plant in Gumi

Toray Advanced Materials Korea launched a project to build a new carbon fiber material plant, the fourth one in Gumi, Gyeongsangbuk-do. Under the project, Toray Advanced Materials Korea will invest 425 billion won, including 141.6 billion won in foreign direct investment, by 2021. 

The money will be funneled into expanding facilities capable of producing carbon fiber, composite materials, non-woven fabric, and films. A groundbreaking ceremony took place at the Gumi High-tech Valley on Oct. 19, 2016. Construction of the 4th plant in Gumi will initially raise the production capacity of carbon fiber to 4,700 tons annually. 

Carbon fiber and composite materials are used as materials of automotive parts for car lightening and eco-friendly automobiles.