Hyosung Korea develops dream fiber material

Hyosung Corp. is a South Korean textile giant. After three years of research, they developed the world's rare carbon fiber material called "Dream Material." Before them, only Japan's Toray and Hexcel could produce high-quality carbon fiber materials. About 10 companies around the world are producing this carbon fiber, and only three Japanese companies, Toray, Toho, and Mitsubishi have 60% of the world's carbon fiber market share. Hyosung claims that the quality of the carbon fiber they developed far outperforms similar products developed in Japan and the United States. It is characterized by a wide range of applications and can be widely used in aerospace, robotics, turbines and sports equipment. The functionality of its products precisely meets many of the world's special needs. The South Korean government also actively supports and affirms this.

Hyosung is headquartered near Seoul. The company plans to invest 231 million U.S. dollars in the construction of a large-scale carbon fiber manufacturing plant in the state. It plans to start production in 2013 with an annual production capacity of 2,000 tons. By then, they will announce to the world that South Korea has achieved the establishment of an eco-friendly industry.

In order to meet the world's demand for soaring carbon fiber materials, the South Korean company has worked hard to formulate a grand blueprint and decided to take huge risks. It plans to have an annual production capacity of 17,000 tons by 2020.

Carbon fiber is 10 times stronger than steel, and its weight is 5 times lighter than steel. This kind of fiber can bring green effect. It can save energy, and its strength and lightness will be applied in many industrial fields. Therefore, its market potential can not be ignored. The Minister of Knowledge Economy of South Korea believes that once this plan is successful, it will bring new vitality to the Korean economy. Because, for the moment, South Korea's carbon fiber industry is still blank and has always been imported. If this plan is achieved, they will also bring new job opportunities for Koreans. MKE is a Korean textile industry consulting company. They predict that Hyosung’s investment will create 10,000 jobs in the next ten years.

Because of the toughness, high strength, and light weight characteristics of the carbon fiber materials they produce, they expect world market demand to grow at a double-digit rate, from today's $2 billion to $5 billion by 2020. Therefore, the development of this new type of carbon fiber is inevitable.