H&G Chemical, a joint venture between South Korea’s Hanwha Solutions and GS Energy, has announced plans to commission a new Ethylene Vinyl Acetate (EVA) plant by September 2025. The facility, which will boast a production capacity of 300,000 tons per year, is set to rise in the bustling Yeosu Industrial Complex in South Jeolla province.
Industry insiders say the move underscores the partners’ strategy to capture rising demand for EVA, a key material used in solar panels, packaging films, footwear, and other high-performance applications. By strategically positioning the plant in Yeosu, one of South Korea’s premier petrochemical hubs, H&G Chemical aims to leverage existing infrastructure and port access to serve both domestic and international markets efficiently.
Market analysts suggest the expansion could strengthen South Korea’s role in the global EVA supply chain at a time when renewable energy and advanced packaging demand continue to climb. The project is expected to support Hanwha’s renewable energy ambitions while bolstering GS Energy’s portfolio in high-value petrochemicals.
