According to the company’s website news release on March 13, 2023, Idemitsu Kosan Co.,Ltd. (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shunichi Kito, hereinafter referred to as “Idemitsu”) established on March 2, Idemitsu Advanced Materials Korea Co.,Ltd., to accelerate research and development of advanced materials (highly-functional materials) such as lithium battery materials, crystalline oxide semiconductors, organic EL materials, and new agrochemicals, and to strengthen the marketing system in South Korea.
With a goal of realizing a carbon-neutral society in 2050, Idemitsu has set forth its 2030 Vision "Your Reliable Partner for a Brighter Future" and 2050 Vision "Shaping Change". As part of the Company’s medium-term management plan (FY2023-2025) announced last November, in the advanced materials field, Idemitsu will expand its business by strengthening its development, manufacturing, and sales systems to meet customers' needs, and contribute to the realization of a circulating society by providing materials that lead to diverse resource conservation and resource recycling, and their social implementation.
Based on the above policy, Idemitsu established Idemitsu Advanced Materials Korea Co., Ltd. The purposes of establishing this new company are to further strengthen cooperation with South Korean global companies that are leaders in advanced technology fields, such as next-generation batteries, high-speed communications, next-generation displays, and environmentally friendly materials, and to accelerate the research and development of advanced materials that accurately meet customer needs and strengthen the marketing system.
Idemitsu Advanced Materials Korea Co., Ltd. will establish an R&D center and marketing division in Osan, Gyeonggi-do, South Korea, to create a system to respond more quickly to customer needs. Going forward, Idemitsu will use the new company to deepen its collaboration with Korean companies and academia.
1. Company Name: Idemitsu Advanced Materials Korea Co., Ltd.
2. Location of the R&D center: Osan, Gyeonggi-do, South Korea
3. Date of Establishment: March 2, 2023
4. Capital: 1.85 billion Korean won (*Approx. 200 million yen)
5. Investment Ratio: 100% Idemitsu Kosan
