South Korea Business Report

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Hansol on track to becoming a global paper market leader

Company offers comprehensive range of products from printing and writing paper to paper board and speciality paper

PUBLISHED : Wednesday, 25 October, 2017, 10:36am
UPDATED : Wednesday, 25 October, 2017, 10:36am

With global demand for paper predicted to reach 482 million tonnes by 2030, South Korea’s Hansol Paper is seeing this as an opportunity to serve the global paper market as it sets itself on track to become one of the world’s top 20 players.

More than 50 years of expertise and continuous investments in innovation in different types of paper

have strengthened Hansol’s product portfolio. The company offers a comprehensive range of products from printing and writing paper to paper board and speciality paper. The firm continuously strives to develop new products through large investments in research and development and quality enhancement to lead global technical standards.

Lee Sang-hun, CEO and president, has focused on addressing the present needs of the industry while preparing for future growth especially in label and packaging solutions. “We’re looking at strategic options in the packaging industry because labels and packaging go hand in hand,” Lee says.

In line with this initiative, Hansol has decided to increase its capacity in thermal paper, which is mainly used in labels and point-of-sale receipts, by rebuilding its Shintanjin mill. Adding up the existing thermal paper production capacity at Janghang and Cheonan mill, Hansol will have approximately 340,000 tonnes in total capacity by next year. This will enable Hansol to become the No 1 manufacturer in the global thermal paper market. It acquired leading European thermal paper converters, such as Schades, Telrol and R+S Group, to enhance its competitiveness throughout the value chain.

Hansol is also looking to establish strategic local partnerships in Asia to provide better service to customers in packaging, with possible ventures in Vietnam, Thailand and Malaysia. “A lot of global players are going into Asian countries and somebody should provide the packaging material,” Lee says.

Managing the company’s supply chain is another key area of concern for Hansol, and utilising an effective internal structure is part of its commitment to reliability and trustworthiness. “We want to be differentiated from competitors particularly in supply chain management,” Lee says.