Samyang EP Hungary holds a plant completion ceremony

JÁSZBERÉNY, Hungary - On March 25, Samyang Corporation held a plant completion ceremony for Samyang EP Co. Hungary in the city of Jászberény, Hungary.

Samyang EP Hungary is an engineering plastics compound company that Samyang Corporation established with a 100% stake investment. It has an annual production capacity of 10,000 tons. Samyang invested EUR10 million into the establishment of the company and will expand the facility's capacity to over 20,000 tons with a further investment.

Samyang EP Hungary, established in February 2011, commenced its commercial production in March this year. In July, when the electrical, electronics, and automotive industries enter their prime periods, the facility will commence full operation.

The completion ceremony began with the declaration of the opening of the ceremony by Samyang Corporation Vice President Lee Jong-yeol. This was followed by a welcome speech by Samyang Corporation Vice Chairman Kim Won and by congratulatory remarks by Jászberény Mayor Szabo Tomas, Korean Ambassador to Hungary Suh Chung-ha, and Ministry of National Economy Director-General Agnes Henter.

Samyang EP Hungary's products will be supplied as EP materials for LCD TV housing and panels to Samsung Electronics Slovakia and Hungary as well as to LG Electronics Poland.

A Samyang Corporation official said, - "We have thus far produced and exported the product in South Korea, but henceforth, we will locally produce and supply the product to expand our markets, with more effective client services. In addition to Samsung Electronics and LG Electronics, we will expand our business partnerships with other global companies operating locally."