CEO Jeon Hae-Sang revealed on the 9th at his Soongsil University lecture
"Samsung and Toray have continued their cooperative relationships in the field of materials."
Jeon Hae-Sang, CEO of Toray Advanced Materials, said in a lecture at Soongsil University in Seoul on the 9th. In his lecture, he emphasized the R&D in the materials field and technology capability of Japan Toray Group, as well as the relationships with Korea and cooperation with Samsung.
"Every year, Samsung and Toray’s top executives meet to have dinner and play sports together, while sharing our future growth engines," CEO Jeon said and also introduced anecdotes by saying, "The late Chairman Lee Byung-Chul of Samsung has visited Toray often and suggested co-operation in the field of materials, which, however, could not be achieved. As Chairman Lee passed away, he told Chairman Lee Gun-Hee to create good relations with Toray."
Toray Advanced Materials also supply display materials for Samsung Display and LG Display, mainly the polyethylene terephthalate (PET) film. "In 2012, when Korea was reborn as a display powerhouse, Toray Advanced Materials localized the production of PET film, which contributed greatly to Samsung Display and LG Display becoming the leaders of the display (market worldwide)," said CEO Jeon.
PET film is currently seeking new applications in multilayer ceramic capacitors (MLCC). "PET film, originally developed for videotapes, will be applied to capacitors in the future after being applied to displays," he said.
CEO Jeon also said, "The display field is moving to China. Toray Advanced Materials has been supplying PET film for MLCC to Samsung Electronics." He emphasized, "While SKC and Kolon can manufacture films for MLCC in Korea, we (Toray Advanced Materials) exclusively have provided Samsung Electronics with films for MLCC and created high profits with the products." In addition, he mentioned, "Currently, there are about 1000 MLCCs per smartphone. However, 20,000 to 30,000 MLCCs are needed for one car, meaning that the demand will increase greatly."
Carbon fiber, which has been in the spotlight, was also introduced. "Toray made carbon fiber for the first time in 1971 after its first investment in 1961 and started making profits in 2015. We have signed a supply agreement with Boeing of US worth 1000 billion won. Only Toray is making carbon fiber for aircraft," said Jeon.
CEO Jeon is the first Chief Executive Officer of the merged Toray Advanced Materials, which was established in April. He leads the company that merged Toray Advanced Materials and Toray Chemical. In 1993, he joined Jeil Habsum (formerly Toray Advanced Materials), was promoted to Chief Operating Officer (COO) in 2017, and currently serves as both CEO and COO.