Seho Tech offers chemical solution for nonflammable materialMadeinkoreablog
Overshadowed by big corporate names like Samsung and Hyundai, Korea’s small and medium-sized enterprises with a technological edge have little chance to expose themselves to the global business scene. This is why the Small and Medium Business Administration discovers small and hidden “gems,” driven by innovative technology, and helps them grow into bigger players.
Seho Tech, a local chemical materials supplier, is one such company the SMBA recognized as a technological innovation project leader in 2013.
The Gimhae-based company has put its business focus on the metal compounds and derivatives sector since its foundation in 1986. Its main achievement was the commercialization of the technology to recycle polyurethane foam, used in many sectors, including cars, housing and electronics goods, for the first time in Korea in 1997.
The foam can be recycled into polyester polyol at a low cost while maintaining the same quality as that yielded from refined materials, according to the company.
“The company is set to take another leap by inventing a nonflammable solution for polyurethane foam,” Seho Tech chairman Kang Chan-hong said.
“The chemical solution-offered polyurethane foam turns into a nonflammable material like a stone. Simply put, the new polyurethane foam can be a game changer in the market, replacing demand for the existing polyurethane foam.”
The company chief added that construction material-makers at home and abroad, who look for better safety-related materials, have highly expressed interest in its new solution.
To push for the new business with the new chemical solution, Seho has recently launched an affiliate named D&H. The mission of D&H is to commercialize polyurethane foam not to be burned.
The company CEO forecast the new solution to polyurethane foam will lift the firm’s sales to around 100 billion won ($87 million) in sales in the long run, almost tenfold current sales.
As to the secret to the continued development of innovative chemical solutions, Kang underlined the importance of investment in research and development.
“The company has invested 10 percent of its revenue into R&D every year, which laid the foundation for the development of groundbreaking technology,” Kang said.
“Its active trade and export to many countries that have signed a free trade agreement with Korea is another drive for the technology-driven innovation.’’
Seho turned its eyes to the overseas market in 1991 and is doing business with 50 companies across 35 countries. As of today, 90 percent of sales come from exports.
“The company will continue to follow our success formula-focusing on what we can do well and doing business in the global market,” Kang said.
Source : http://www.koreaherald.com/view.php?ud=20160330000867