Korea’s building regulations are changing as the country, which has extremes of hot and cold weather gets to grips with insulation. That could be good news for Youngbo as Simon Robinson reports.
Chungbuk, 120 km from Seoul is the home of Youngbo Chemical a subsidiary of Japan’s Sekisui.
Youngbo Housing was separated from Youngbo Chemical because the chemical business was focusing on the polyolefin business. Housing is “invested in PIR products, and the business models are quite divergent,” said Tony Kim, chief financial officer, of Youngbo Chemical.
“The PIR business is growing, so we decided to separate them, to help us concentrate more on the construction sector,” he said.
“Basically the PIR business comes with large volumes. We need to see their performance separately from our conventional polyolefin business,” he added.
Youngbo Housing makes its own polyurethane formulations for rigid foam. MDI comes from either BASF or Kuhmo, said Kim Hyo Lin, chief executive of Youngbo Housing. There are several systems houses who supply formulations. “Most of the raw materials are localised,” said Kim.
“The PIR business is all domestic,” said Kim. But he added that next year his firm is planning to export boards to Japan. In Japan you can’t use 141-b as a blowing agent, “but that’s OK, we already have cyclo-pentane”, he…