Solvay Group, one of the world’s top 10 chemical companies, wants to build a W120 billion factory in Korea by 2017 (US$1=W1,023).
Solvay CEO Jean-Pierre Clamadieu made the announcement Monday in a speech marking the opening of the Ewha-Solvay Research and Innovation Center at Ewha Womans University in Seoul.
Clamadieu said the group plans to make Korea its base for the Asian market, and expand investment in Korea.
Founded in 1863, Solvay is headquartered in Brussels, Belgium and has a presence in 56 countries. The company posted sales of 9.94 billion euros last year.
An increasing number of global chemical companies are coming to Korea. World leader BASF of Germany will open an Asia-Pacific R&D center on the Suwon campus of Sungkyunkwan University in September to research semiconductors, displays and solar panels.
German chemical giant Merck is building a research center in Pyeongtaek, Gyeonggi Province, and Saudi Arabian petrochemical firm SABIC completed a new global technology center focusing on electronics and electrical, lighting science and technology at Sungkyunkwan University in March.