Kumho Mitsui invested 400 billion won to expand MDI production capacity

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Kumho Mitsui Chemicals recently stated that the company will invest about 4000 billion won ($358.1 million) to expand the capacity of its chemical manufacturing plant in South Korea's southwestern region.

Korean synthetic rubber manufacturer Kumho Petrochemical and Japan's Mitsui Chemicals The joint venture said its shareholders approved an investment plan to expand the production capacity of its methyl diphenyl diisocyanate (MDI) plant in Yeosu, 455 kilometers southwest of Seoul, South Korea.

MDI is one of the core materials of polyurethane, which is widely used in refrigerators, building materials, interior and exterior materials of automobiles, and liquefied natural gas ships.

Kumho Mitsui Chemicals stated that when the expansion is completed in 2024, Kumho Mitsui Chemicals will expand its annual MDI production capacity from the current 410,000 tons to 610,000 tons, which is expected to increase sales by more than 1.5 trillion won.