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Kolon Industries,Inc. Company history

Kolon Industries,Inc.

Thank you for visiting the home page of
Kolon Industries , Inc. Established in 1957, Kolon
Industries, Inc. launched Korea's first synthetic fiber
production line. For the past 43 years, the company
has been engaged in ongoing research &
development, helping to ensure that it remains the
industry leader for many years to come.
The company has expanded its business scope
dramatically since those early days, and today
is active not only in synthetic yarn and fabric,
industrial materials, film, electronic materials, plastic
and specialty chemicals, but also in such
future-oriented areas as membranes and
bioengineering. As always, we continue to strive
for the very best in every sphere of our business.
Head Office in Kwachon  Kolon Industries, Inc. is now prepared to
take another bold step forward by introducing advanced management models
and techniques which will enable the company to adapt better and
faster to the business challenges that lie ahead.

Looking to grow together with its customers a win-win relationship,
the CEO's management policy places top priority on "customer
success" for the new millennium.
This is part of KII's new millennium vision to become a global
chemical material maker known for as much for its top-quality
products as for its excellent shareholder value.
This will entail a resolute, stage-by-stage restructuring of the
company's business portfolio and composition.
As a result, you can expect to see a fresh new Kolon Industry in
due course.

We invite all of you Netizens to stay tuned to these web pages and
watch us achieve our goals in the exciting months and years ahead,
as Kolon Industries, Inc. emerges with a fresh, new focus and
optimism in the new millennium.

Company history

Kolon Industries, Inc. Since 1957

Kolon Industries, Inc. is proud of having laid a cornerstone for the
economic development of Korea, becoming the first producer in the
country to turn out 2.5 tons of nylon a day almost half a century ago
and making possible Korea's rise to stardom in the global garment industry.
By establishing the new millennium vision of being a global chemical
material producer armed with "first-class market value," KII is
determined to restructure its portfolio groups in the next several
years in a stage-by-stage transformation of its corporate profile.

Kolon, the pioneer of synthetic fiber in Korea in the 20th century,
wishes to retrace its achievements of the past 43 years and look
ahead to an even brighter, more promising future as a first-class
global producer.

Foundation and Early Development                       
Expansion of Business Base (1969-1982)
Advancement of Business Structure (1983-1993)
Laying a Foundation for Growth (1994-1999)
Year 2000

Foundation and Early Development

With the start of its nylon production in 1957, Kolon Industry Inc.
began the history of synthetic fibers in Korea.


In the late 1950s, the South Korean economy,though having recovered to
its pre-Korean War level, had yet to escape from the quagmire of stagnation.
The only locally produced synthetic fiber goods were nylon socks made
by small firms.
In those early years, nylon socks enjoyed tremendous popularity,
with demand continually outstripping supply.

It was in this setting that the company was founded in Taegu on April
12, 1957 initially as Korean Nylon Co., Ltd.
Constructing an elastic nylon yarn factory the following year, the
company took its first step as the sole explorer and front-runner of the
nylon fiber industry in Korea.

In addition, the company dedicated in 1963 a single yarn plant capable
of producing 2.5 tons of nylon filament yarn a day, and in 1967 broke
ground for the construction of a plant with triple that capacity in
a first-phase expansion program.
It thus played a pivotal role in the supply of nylon yarn across the
country.

Expansion of Business Base (1969-1982)

On February 25, 1977, Korean Nylon Co. was renamed
Kolon (Nylon) Industry Inc. and Korea Polyester Co.
as Kolon (Polyester) Industries Inc., respectively.
The Company thereby accelerated efforts toward a further leap
forward.


In the 1960s and '70s, Korea's nylon textile industry enjoyed a major boom,
thanks in part to the successful promotion of a five-year
economic development plan. The 1970s was a period in which nylon was
the undisputed king of the chemical fiber industry.

Upon the advent of new fiber polyester, Kolon Industries, inc. founded
Korean Polyester Co., Ltd.
in 1969, dedicating a plant capable of producing 17.5 tons of polyester
filament yarn a day in Kumi, North Kyongsang Province, in 1971.

In line with the trend at home and abroad toward management
rationalization, the business operations of Korean Nylon and Korean
Polyester were merged in 1972.
To diversify its business lines and products, the company produced
tire cord, thus providing a base for promoting its international
competitiveness.

The oil shock that hit the whole world the following year dealt a severe
blow to every industry in Korea, demonstrating that firms must be able
to survive on their own abilities.
In a move to reinforce its image and philosophy of being a "people's
industry," Kolon Industries, Inc.was listed on the Korea Stock
Exchange.
It was an occasion for the company to renew its determination to be
a model corporate citizen.

In January 1977, just 20 years after Chairman Lee Won-man founded
the firm, Lee Tong-chan, then CEO of Kolon Industries, inc. was
selected as chairman of the Kolon Group.

In a sweeping reorganization in February of the same year, Korean
Nylon was renamed Kolon (Nylon) Industries, Inc. and Korean
Polyester as Kolon (Polyester) Industries, Inc. to set the stage for the
company's major leap forward.

In the following year, a technology institute was established.
In 1981, Kolon (Nylon) Industries, Inc. and Kolon (Polyester)
Industries, Inc. were merged into today's Kolon Industries, Inc.

By taking over the Kyongsan plant of Kolon International Corp. in 1982,
the company began to prepare for business diversification away from
its exclusively textile-related product line.

Advancement of Business Structure (1983-1993)

At the outset of the 1990s , Kolon Industries, inc. sought to
emerge as a large-scale producer of advanced materials - mainly
high-polymer and precision-chemistry materials - taking
advantage of its vast synthetic fiber technology.


In the 1980s, Korea enjoyed steady growth thanks to government policy
efforts to stabilize the economy and also to favorable global conditions.
However, the textile industry experienced a

sluggish pace of expansion due to cutthroat competition among
exporting countries and growing protectionist barriers imposed
by advanced nations.

In 1983, in a sweeping move to revamp itself, the company effected
a partial change in its management organization, changed the group
symbol, took over Koryo Nylon Co.and made public a long-term
management plan called "Vision 2000" with emphasis on technology
and the future.

Beginning in 1985, the company sought to further diversify its business
lines by aggressively expanding into the production of film, videotape
and medical supplies in addition to its backbone line of textiles.

At the turn of the 1990s, Kolon Industries, Inc. launched a polyester
spun bond line, unprecedented at the time, with the goal of widening
the scope of the textile industry and increasing added value.
With the new line, the company advanced into the interior and home
products, turning out artificial lawns, carpets, and the like.

On the strength of its synthetic fiber technology, the company entered
the production of high-tech materials, mainly high polymer and
precision chemical materials.

The first firm Kolon established abroad was Siam Tire Cord Co.,
a locally incorporated joint-venture producer of tire cord formed
with the Thai Mui Group of Thailand.
The company dedicated a tire cord plant in the outlying area of
Bangkok in 1991.

In 1991, Kolon, through a merger, took over Imperial Graphics Co.,
a leading British film producer and sales firm, securing a bridgehead
to the European market.
Through the exploration of new markets, KII cemented its base of
revenues and new business lines in what would become an area of
major importance.

Laying a Foundation for Growth (1994-1999)

With the dedication
in 1997 of the Kimchon
CIM unmanned automation
project begun in 1994,
Kolon Industries, Inc.
inaugurated the production
of the highest-quality and
lowest-cost products at its
high-tech facilities, thus
heralding the age of unmanned automation.

Opening Ceremony PT. Kolon Ina
In the middle of the 1990s, the company experienced several years
of crisis. Deficits persisted in the textile area, KII's main
revenue source, due mainly to sustained wage increases and the advent of
newcomer industries armed with up-to-date facilities.
The deficits resulted in a decline in competitiveness, afflicting the
overall management of the company.

To cope with the crisis, Vice Chairman Lee Woong-yeul assumed the
presidency of Kolon Industries, Inc. in 1994 to personally manage
the company, the mainstay firm of the Kolon Group.
The new president put strategic management programs into action in
one area after another to recover the group's competitiveness.

Moreover, by launching a management renovation campaign called
"Race for No. 1," all officials and employees took positive part in
conscience innovation and corporate restructuring programs,
helping to successfully overcome the difficult business conditions.

In 1994, the company launched an automotive airbag project.
Also, to further increase its competitiveness, the company
scrapped old facilities and began construction on the Kimchon
unmanned automation plant.
In August of the same year, the company established Kolon Ina,
a locally incorporated firm in Indonesia, and absorbed Koryo Nylon
Co. to expand capacity of raw yarn.

One year later, in 1995, the company developed artificial leather with
its own know-how, a product whose production had previously been
monopolized by two Japanese firms.
Furthermore, in 1996 KII began to produce "HiFil," a water purifier for
use on water taps, its entry into the water-purification market.

In January 1996, Vice Chairman Lee Woong-yeul assumed the group
chairmanship.
Chairman Lee, declaring "One & Only" as the Group's managerial
motto, laid the groundwork for the Kolon Group to become a first-class
daily materials producer in the 21st century.

In the following year, the Kimchon CIM unmanned automation project,
designed to help realign the Group's business structure, was
completed, enabling Kolon to produce high-quality, low-cost products
with state-of-the-art facilities.

In April 1997, the company dedicated a PET film plant in Indonesia and
made investment in Vietnam and other foreign regions as part of
a drive to increase international competitiveness.

With the groundwork laid for further growth, Kolon Industries, inc. has
managed to overcome the difficult managerial conditions brought
about by the IMF crisis and to emerge as a financially sound
enterprise.

Year 2000

Kolon Industries, Inc.has set as its new millennium goal to
emerge as a "global bio-chemical materials producer with
first-class market value, " and is embarking on the full-scale
reorganization of its business portfolio.


It is extremely difficult to envision the next few years given today's
unpredictable management environment. Nonetheless, the company
has successfully restructured itself and is now hard at work
creating a "New Kolon for the New Millennium."

Managerial emphasis is being placed on strengthening existing
business lines through selection and concentration, and also on
exploring of new business areas for the future.
The company has adopted several strategic tasks, including
strengthening of core capabilities, exploration of future projects,
and promotion of transparent management.

To promote these strategic tasks, the company will bolster its
manufacturing, technology and marketing capabilities, and invest
more to expand production of differentiated and new products and
in strengthening market position.

Also, by establishing "Customer Success (CSS)" as the managerial
motto of the CEO, the company strives hard to become a producer
that grows together with its customers.
As part of its positive public relations activities aimed at investors
and stockholders, the company is building a strategic
investor-relations (IR) system and is seeking greater customer
confidence by publicizing the soundness of its asset base and the
transparency of profit and loss data.

In addition to the reorganization of its portfolio, Kolon is exploring
growth opportunities in the Internet- and e-commerce-related areas.

The 21st century will require the company to display comprehensive,
integrated and flexible business insight.
Kolon Industries, Inc. will emerge as a first-class industry that will
leave a legacy of proud accomplishments in the world history of
synthetic fibers.

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