A view of the One and Only Tower, a new office building for Kolon Group in Magok-dong, Gangseo Ward in Seoul offically opened on April 16 as the hub for the group's new Magok era. (Photos: Kolon Group)

Chairman Lee Woong-yeul of Kolon Group.

The Kolon Group, led by Chairman Lee Woong-yeol, looks forward to making a new start from the newly-christened “One and Only Building” in the Magok area of Gangseo District, Seoul.

The group relocated its head office from the Kolon Tower in Gwacheon, Gyeonggi Province, where it had located been for 21 years since 1997.

The group held a ceremony on April 12 to name its new head office building the “One and Only Tower” on the occasion of the 61st anniversary of the group to embark on the Magok Age for the group. The group’s head office, including the office for Chairman Lee and a number of its key affiliates, including Kolon Industry, Kolon Bio Science and Kolon Glo Tech, moved into the new building along with 1,500 employees on April 16, the group said. Chairman Lee will still have his office in Gwacheon, as the Kolon Co., the holding company for the group, will continue to remain in the old Kolon Tower for the time being.

Only Kolon Industry and its Central Technology Institute were to relocate into the One and Only Tower, but the group decided to have other key firms move in also, on account of an effective synergy from the R&D activities on boosting the competitive powers of its manufacturing firms. 

The Magok head office will play a key leading role in the growth of the group to be a hub where the R&D activities of its various affiliates, operations and support functions will be concentrated. The group has been preparing to be a tailor-made enterprise in the age of the 4th Industrial Revolution in diverse areas of businesses and industries.

The group has decided to expand its existing operations continue to lead the industrial areas they operate in and, at the same time, seek new growth engines in diverse areas including bio science and manufacturing. Since the first nylon production in Korea in 1957, Kolon Industries, Inc., formerly Kolon Corporation, has made a significant contribution to national economic growth, and is now an independent company separated from the Manufacturing Department of Kolon Corporation after the adoption of a holding company structure by the Kolon Group in 2010.

Focusing on the four major business divisions, namely, industrial materials, chemical, films/electronic materials, and fashion, the company has become a leader in each industry. To become a top global chemical and materials company, Kolon Industries, is planning to globalize its businesses of automotive materials, advanced materials, optical films, chemical and fashion industries by increasing investment in high value products.

Kolon Industries will continue to embrace change and innovation. By becoming a better, stronger industrial leader, the company will be able to make bigger contributions to its shareholders and community.

Georgia Tech and Kolon Industries signed a historic agreement to establish the Kolon Center for Lifestyle Innovation, an interdisciplinary research center, which will bring together faculty and students from across Georgia Tech to explore the role of advanced materials and manufacturing in bringing about lifestyle innovation through world-class research and development.

Kolon will initially invest $3 million over a five-year period to establish the Center.

The dedication ceremony, hosted by President “Bud” Peterson, was held on Oct. 18 at Georgia Tech and included Kolon Group Chairman Lee Woong-yeul; Kolon Industries CEO Park Dong-moon; Kolon Industries Central Research Institute Vice President Park Jong-Min; Georgia Tech President G. P. “Bud” Peterson; Gary May, dean of the College of Engineering; Naresh Thadhani, professor and chairman of the School of Materials Science and Engineering; and Sundaresan Jayaraman, Kolon professor in the School of Materials Science and Engineering and director of the KCLI.