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On September 19, our company signed an agreement with Innopolytech Co., Ltd., a subsidiary of GS Caltex, to cooperate in the development of high value-added products through technology exchange and the formation of regional win-win relationships. As the first case of a win-win agreement between companies in Jinju, Innopolytech supplies polymers and polymer composite materials suitable for the purpose required by Geumgang, and Geumgang utilizes raw materials supplied by Innopolytech to produce SPOL pipes and other pipes. We plan to develop and produce flanges, sockets, and joint parts.

Jinju Mayor Cho Gyu-il attended the event and congratulated the two companies on the win-win cooperation agreement, saying that it was of great significance as the first win-win cooperation between companies in the region and encouraged the officials.

Our company developed the world’s first stainless steel composite spool pipe and holds domestic and international patents. In particular, we are continuously growing based on over 60 intellectual property rights, including patent rights, design rights, and trademark rights, through the development of cutting-edge technology. Meanwhile, Innopolytech, located in Jisu-myeon, Jinju-si, is a 100% subsidiary of GS Caltex and is a promising company with excellent technology in the composite PP field, contributing to the creation of local talent jobs.

Man-hyuk Bang expressed his thoughts, saying, “We will use this as an opportunity for Geumgang’s technological leap forward by carrying out broader development and trials through win-win technological cooperation with Innopolytech, a leading composite material company.” Kim Young-pil, CEO of Innopolytech, said, “It is an honor to collaborate with Geumgang, which is leading the local economy through continuous development and new attempts as well as the stainless steel water tank and spool pipe market, and we hope that the signing of this agreement will be the starting point of a win-win model through collaboration between companies. “I do it,” he said.

Jinju Mayor Cho Gyu-il, who played a role in cooperation between companies, said in his greeting, “It is very meaningful as it is the first win-win cooperation agreement between large corporations and small and medium-sized companies located in the region.” He added, “We will achieve results so that this agreement can become a role model for local businesses.” “I hope that by sharing this, we can create synergy effects for the entire company,” he said.

Source: Gyeongnam Ilbo – Korea’s first local newspaper (http://www.gnnews.co.kr)