Kolon Group will invest 4 trillion won over the next five years, focusing on high-tech materials, eco-friendly energy, pharmaceuticals and bio.
Major affiliates will also cooperate to establish a hydrogen value chain around Korea. In addition, it plans to expand the number of recruitment for the vulnerable. On the 30th, Kolon Group held the One & Only Committee and announced that it has finalized its investment and recruitment strategy for the next five years.
After honorary chairman Lee Woong-yeol retired in late 2018, Kolon Group is making major decisions through the “One & Only Committee,” a management consultative body composed of major presidents. Kolon Group will strengthen its global competitiveness in high-tech materials. It plans to expand production facilities for aramid fiber, called “super fiber,” and invest 1.7 trillion won in high-tech new materials, including secondary battery materials such as separation membranes.
It will also spend 900 billion won on green energy such as wind power generation, fuel cell materials and hydrogen. It is planning to expand its offshore and offshore wind power business network, and at the same time, start producing hydrogen with water electrolysis technology using late-night power from wind power plants.
In the bio sector, 450 billion won will be invested in facilities such as research, clinical trials, and process development necessary for the development of new drugs, and 100 billion won will be invested in future mobility areas such as Air Traffic System (UAM) and space launch vehicle composite materials. In addition, it plans to execute 450 billion won to strengthen existing business competitiveness and 400 billion won to expand its business base, respectively.
In addition, Kolon Group announced its plan to directly hire vulnerable people who need social consideration to take the lead in creating jobs accompanying society. In particular, the CEOs of affiliates will be required to set up job creation measures suitable for each company’s situation and use them as one of the management performance indicators to check the implementation status.
Papa Mobility, an affiliate of the mobility platform, has decided to hire retired soldiers with extensive experience in security and medical support by the end of this year and expand the scope of recruitment to firefighters and police. In addition, the government will expand the size of hiring athletes with disabilities and increase job opportunities for vocational high school graduates such as Meister High School and multicultural families.
