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GS Caltex has stepped into the high-value-added carbon materials business together with a leading Japanese energy firm. Under the partnership, GS will seek to build the world's largest carbon materials production facility by 2015 and expand business in the new and renewable energies sector.
Company chairman Hur Dong-soo signed a memorandum of understanding to that effect with executive vice president Makoto Satani of Japan's largest refinery Nippon Oil in Seoul Thursday. The two firms will build a joint venture to produce carbon materials, the key material in the electrodes of supercapacitors, seen as the next-generation in energy storage devices.
No Korean company yet produces carbon materials and all supplies are currently imported from Japan. The two firms will invest US$100 million in the joint venture to be located in Gumi, North Gyeongsang Province, with an aim to start mass production from 2010.
(englishnews@chosun.com )
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