Dignitaries, including Gyeongsangbuk-do Gov. Lee Cheol-woo, former minister Lee Hee-beom of the Ministry of Trade, Industry and Energy, ex-minister Kim Do-yeon of the Ministry of Science and ICT, Toray Industries President Akihiro Nikkaku., TAK Chairman Lee Young-kwan, and TAK Presient Chun Hae-sang, attend a ceremony to declare Vision 2030 took place at the Korea Toray R&D Center, Korea Toray Group headquarters, in Magok, Gangseo-gu, which, on Dec. 2. (Photo: TAK)

Toray Advanced Materials Korea (TAK) announced “Vision 2030,” its plan to raise sales to 10 trillion won and operating profit to 1 trillion won by 2030, as well as mid- and long-term strategies to become an unmatched company.

 
A ceremony to declare Vision 2030 took place at the Korea Toray R&D Center, Korea Toray Group headquarters, in Magok, Gangseo-gu, Seoul, on Dec. 2.

Among those on hand at the event were Gyeongsangbuk-do Gov. Lee Cheol-woo, former minister Lee Hee-beom of the Ministry of Trade, Industry and Energy, ex-minister Kim Do-yeon of the Ministry of Science and ICT, Toray Industries President Akihiro Nikkaku, TAK Chairman Lee Young-kwan, and TAK President Chun Hae-sang.

TAK is a chemical material company specializing in carbon fiber for aircraft and vehicles, IT materials, and textiles and fibers. The company logged 2.43 trillion won in sales and 162.6 billion won in operating profit last year.

KAT announced strategies to raise sales five times more and operating profit nine times more in a decade by expanding the conventional business and aggressively investing new growth sectors.

The areas in which TAK will focus to achieve the Vision 2030 have been summed up as next-generation display, new mobility, eco-friendly materials, water treatment and health care.

The company has decided to plunk down investments into the next-generation display market, being spurred by the emerging of folder smartphones.

TAK plans to expand the development of micro LED materials, whose size is one-tenth of the conventional OLED and LED on top of folding phone materials.

The company will focus on improving the performance of multi-layer ceramic capacitors (MLCC), dubbed as the “Gem of the Electronics Industry.” TAK will step on the gas on the development of new materials to brace for an era of self-driving vehicles, a TAK official said.

TAK plans to make the most of the material technology power it has already obtained in the eco-friendly sector. The company now secures stronger and lighter products such as carbon fiber, PPS resin, and textile materials.

The company plans to pursue lightening not only EV and hydrogen car sectors but also aircraft parts in order to contributing to reducing greenhouse gas emissions. In the new mobility field, TAK plans to work on the development of core materials for hydrogen cars to brace for the ushering in of an of hydrogen car on top of EVs in the future.

TAK is challenging the development of smart textile materials to be utilized for health care, as wearable electronics devices are drawing keen attention. Fibers analyzing biometric data such as pulse, breathing and perspiration are expected to make their debut. Discussions on investment and R&D into health care materials are now under way, a TAK official said.

TAK President Chun said, “With the declaring of the Vision 2030, TAK will make another leap forward on the back of the past 20 years of growth.”

TAK aims to be a global unmatched leader in the materials industry, he added.

Korea Toray Group HQ Moves Into Newly Built Center in Magok

Toray Advanced Materials Korea (TAK) has relocated its headquarters to the newly built Korea Toray R&D Center in Magok, Gangseo-gu, Seoul.

Subsidiary companies of Korea Toray Group (KTG), including TAK Information Systems and Advanced Materials Research Center have also moved into the Korea Toray R&D Center.

The R&D center, dedicated one year after it was launched last October, is an eight-story structure consisting of a research labor, a pilot experiment quarters, and a quarters consisting of offices.

Advanced Materials Research Center, separated from other subsidiaries in the past, has joined in the relocation, thus establishing a close cooperative regime like the speeding of joint development of future technologies and large-scale themes with customer companies.

The group plans to promote exchanges with companies, research institutes and universities to ramp up synergetic effects.

The new HQ building has flexible office space to promote collaboration. The group also offers flexible research space to enable creative research.