Pharmaceutical Company Kukjeon Looking to Expand OLED Materials Business

Kukjeon Pharmaceutical is branching out to the electronic materials sector, indicating a strategic move into the electronics material production domain. Last August, the company invested a significant amount – 50 billion won ($37 million) – in Eumseong, where several companies, including Merck and Samsung, have facilities. This investment is going into constructing a state-of-the-art facility designed for the production of electronic materials.

Source: Kukjeon

The plant is expected to be equipped with specialized equipment, such as a hastelloid reactor, polymer reactor, and TCU system. These tools are integral for crafting high-end, quality chemical products. The company claims to have successfully developed a high-purity synthesis technology is looking to staff up with human expertise in the realm of organic synthesis for its new venture. As for the products, Kukjeon Pharmaceutical has an ambitious lineup planned. Its portfolio is set to include materials for OLED displays (both intermediates and final products), components for secondary batteries such as additives and solvents, semiconductors, and a range of other general chemical materials.

The move into display and electronics materials is part of an overall growth strategy that is supposed to take the company to 200 billion won ($148 million) in sales by 2027. Come next year, it intends to commercialize a total of five products – two related to OLED and three for secondary battery electrolytes. The revenue goal from these is set at 10 billion won annually ($8 million), and by 2027, the aim is to get sales of these materials to 50 billion won ($37 million) annually.