According to the Yonhap News Agency, the Korean company Kumho Petrochemical Co., Ltd. (Kumho Petrochemical) announced on September 21 that it will build its seventh manufacturing base in China in the Guangdong province of Guangdong - Kumho, Guangdong. Polymer Materials Co., Ltd. (hereinafter referred to as: Kumho, Guangdong). The plant will produce raw materials for automotive parts and electronics manufacturing - ABS resin composites.

In China, Kumho Petrochemical and Shanghai Rishengsheng New Technology Development Co., Ltd. have established a joint venture company, Shanghai Jinhu Richi Plastics Co., Ltd., which is its first subsidiary outside Korea. The company will be a subsidiary of Shanghai Kumho Reli Plastics Co., Ltd., and Shanghai Jinhu Reli Plastics Co., Ltd. will invest 15 million yuan to start construction from the second half of 2010.

The annual production capacity and production capacity of ABS resin composite materials of Kumho Richland in Guangdong is planned to be 10,000 tons in the initial stage of establishment in 2010. The capacity will be increased to 50,000 tons by 2015 and doubled to 100,000 tons by 2018.

Kumho Petrochemical is one of the subsidiaries of Kumho Asiana Group. Kumho Hana Group has four business divisions: chemical/tire, transportation/logistics, construction, and finance. Among them, the chemical/tire sector, in addition to Kumho Petrochemical, Kumho P&B Chemicals, Kumho Mitsui Chemicals, Kumho Polychem, Kumho Tires, and Incheon Airport Energy.

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