Aekyung Chemical, a specialty fine-chemicals company, was strong in early trading on the 27th. Buying appears to be piling in on news that it completed, for the first time in Korea, a TPC (Terephthaloyl Chloride) plant, a key raw material for aramid fiber, and began mass production.
As of 9:59 a.m., Aekyung Chemical was trading on the main board at 10,830 won, up 1,530 won (16.45%) from the previous session.
Aekyung Chemical said it held a completion ceremony the previous day for its TPC mass-production facility at the Ulsan plant.
The completed TPC mass-production facility has an annual capacity of 15,000 tons, and Aekyung Chemical plans to consider phased production expansion in line with growth in the aramid market and rising demand.
Aramid is lighter and harder than steel and is flame-retardant, earning it the name "super fiber." It is used in high-strength, high-heat-resistant industrial fields such as firefighting turnout gear, the aerospace industry, electric-vehicle tire cords, and optical cables.
Aekyung Chemical said it plans to further advance its business structure with this completion and continue to shift its future portfolio toward high-performance materials.