2015 is a very special year for the Solvay group in South Korea as we celebrate 40 years since the company was established in this country. During those four decades, Solvay has grown from a small player to a major partner for South Korea’s global electronic, automotive and chemical industries.
After our establishment in June 1975, Solvay remained a relatively unrecognized chemical company in South Korea into the 1990s. But this is certainly not the case today.
Over the past 10 years alone, Solvay has invested around €200 million in our South Korean operations. During this decade, our business has also established itself as the global headquarters of Solvay’s Special Chem Global Business Unit.
These investments have enabled Solvay to grow further in Korea, and to develop our research and innovation platform. Solvay now produces specialty chemicals and high-end materials in Korea. In 2014 the country accounted for 14% of Solvay’s revenue in Asia. This has helped to lift our profile further, prompting a leading South Korean newspaper to list Solvay as the 7th most preferred multinationalto join in the country.
We have also attracted the attention of the region’s industrial partners, many of whom work with us on joint ventures, or as a preferred partner. As well as working together, we share research information which helps us all develop solutions for the future.
Looking back at what has been achieved over the past 40 years, it is clear that this is just the beginning of Solvay’s future in South Korea. I am very proud to head-up the group that will drive further growth for Solvay in Korea over the next 40 years – and beyond!
Now let me give you a short overview of Solvay’s current operations and history in South Korea through pictures.