South Korea's Kolon Group announced on Monday it launched a new advanced composite materials company Kolon Spaceworks.
Kolon Spaceworks is being established by integrating the composite materials businesses within the group, including Kolon DACC Composite, Kolon Glotech, and Kolon ENP, through an intra-group asset transfer.
The goal is to maximize synergies in various material combinations, bonding orientations, and production methods, enhancing the competitiveness of the composite materials business and expanding its application areas.
The company explained that the name signifies providing solutions for products applied to various spaces, from the sea, land, and sky to outer space.
The vision includes overcoming the physical limitations of single materials by combining various materials, thereby securing technological capabilities and increasing the feasibility of future living and mobility.
Kolon DACC Composite's President Oh Won-sun and Kolon Corp.'s Senior Executive Director Ahn Sang-hyun will lead Kolon Spaceworks as co-CEOs.