# Hyosung Advanced Materials to expand aramid factory in Ulsan, South Korea

Hyosung Advanced Materials signed an MOU with Ulsan City to invest KRW 61.3 billion in expanding its aramid factory in Ulsan, increasing capacity from 1,200 to 3,700 tons per year by the first half of 2021.

- Type: Expansion
- Announced: 2020-05-20
- Where: Ulsan, South Korea
- Value: $51.0M (61.3B KRW)
- Starts operating: Q2 2021
- Status: announced
- Capacity: 3,700 tons per year
- Products: aramid fibers
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Hyosung Advanced Materials](https://endata.com/companies/7810.md)

## Sources

- [hyosung.com](https://www.hyosung.com/en/newsroom/view/13268), 2020-05-20: "We are happy with Hyosung's decision to expand said factory in addition to the KRW 300 billion investment by Hyosung-Linde Korea in its liquid hydrogen factory in Ulsan."
- [seoul.co.kr](https://www.seoul.co.kr/news/economy/2020/05/20/20200520500119), 2020-05-20: "효성첨단소재는 울산공장에 613억원을 투자해 2021년 상반기까지 아라미드 생산라인 증설을 완료하고, 현재 연산 1200t 수준의 생산 규모를 연산 3700t 규모로 확대할 계획이다."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.