Kumho Mitsui Chemicals will invest 400 billion won to expand MDI production

Kumho Mitsui Chemicals recently stated that it will invest about 400 billion won (US$358.1 million) to expand its chemical manufacturing plant in the southwestern region of South Korea.

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

MDI is a core material of polyurethane and is used in various products, including refrigerators, building materials, automotive interior and exterior materials, and LNG ships.

Kumho Mitsui Chemicals stated that when the expansion is completed in 2024, the annual production capacity of Kumho Mitsui Chemicals' MDI will increase from the current 400,000 tons to 610,000 tons, and it is expected to increase sales by more than 1.5 trillion won.