Kaneka establishes Kaneka Korea Corporation and holds opening ceremony

In the aims of expanding its business in the South Korean market growing steadily with active investments and overseas strategies, and further strengthening ties with South Korean companies expanding their operations worldwide with a focus on Asia, Kaneka Corporation (Osaka, Japan; President: Mr. Kimikazu Sugawara) established Kaneka Korea Corporation (President: Yoshiki Takeoka) in Seoul in October this year to perform market surveys and sales and operation support activities. The opening ceremony was held on November 3 and was attended by representatives from the company’s major trading and joint research partners.

The South Korean economy recorded a growth of 6.1% in 2010 thanks to factors like strong exports and domestic capital investment and consumption. It is expected to maintain a stable growth with exports continuously increasing due to intensive investments in strategic industries including telecommunications equipment, electronic materials, and automobiles, and marketing strategies tailored to China and developing markets.

Kaneka Korea Corporation will further strengthen ties with leading manufacturers and serve as a base for customer-focused development of electronic materials and sales support in South Korea, and will seek to accelerate business expansion. It will also collect market information and promote the strengthening of sales support for other businesses as well. The company will be one of Kaneka Corporation’s corporate bases for Asian development, and its functions will be enhanced in the months and years to come to support the expansion of various businesses.

Outline of the New Company

Company name: Kaneka Korea Corporation
Business: Market surveys and sales and operation support activities
Capital: 500 million South Korean won (approx. 37.5 million yen)
Established: October 2011
Head office: Seoul, South Korea
Representative: Yoshiki Takeoka, President
Shareholder: Kaneka Corporation (100%)