Providing new inspiration to people across the continents
[A global art show entitled “Inspiring Journey”]
New discoveries that make our lives more comfortable and full of happiness["Let's go camping park" sponsored by KOLON SPORTS]
Innovative products and services that touch the hearts of customers
[KOLON SPORTS’s 2013 Spring/Summer Collection Exhibition in Beijing]
Advanced technology that pushes the boundaries of our imagination
and shapes a brighter future
[The first hydrocarbon resin plant in Korea.
"Ulsan Plant of KOLON INDUSTRIES"]
Airbag cushions from KOLON Industries (CEO Park Dong-moon) will be installed in four models of Ford Motor Company, one of the most reputed and favored automobile brands in North America. This deal is considered the company’s first important step in expanding its presence in the US market after the conclusion of the lawsuit with DuPont, raising expectations about the company’s future expansion into the global market.
KOLON Industries announced on the 10th that it has concluded a three-year airbag cushion supply agreement worth USD 38 million (approximately KRW 42.3 billion) with Autoliv, a US-based auto safety parts manufacturer. The contracted item is the OPW (one piece woven) side curtain airbag cushion, which will be installed in Mondeo, Lincoln, Fusion, and Edge. Autoliv is the world’s number one auto safety parts manufacturer, boasting a market share of 35 percent in the airbag module market. Autoliv will be assembling airbag cushions supplied by KOLON Industries and deliver the finished airbags to Ford Motor Company.
This feat is all the more significant as the airbag cushion was developed exclusively by KOLON Industries using polyester (PET). KOLON Industries has been focusing on the development of an airbag cushion made with PET instead of nylon yarn (Nylon 66) that is currently the main material in airbag cushions, and succeeded in its mass production in 2013. This PET airbag cushion is similar to a nylon airbag cushion in terms of strength and durability but lower in price. Thus, it is fast becoming the center of attention in the automobile market. KOLON Industries directly handled the entire process from the production of PET yarn to the making of airbags and secured technological and price competitiveness.
With the excellence of KOLON Industries-developed PET proven through the contract with Autoliv, the company is expecting an increase in orders for this material.
Executive Director Choi Yeong-mu, who heads the First Business Division, said, “The industry is paying attention to PET airbags that are lower in price and outstanding in quality. Although the market share of PET airbags stands at a mere 5 percent now, it is expected to rise to 20-30 percent within four to five years, and KOLON Industries will take the lead in its growth.”
KOLON Plastics (CEO Jang Hee-gu) announced that it showcased a number of newly invented materials, including KompoGTe (a composite material made with thermoplastic carbon fibers used to make automobiles more lightweight) and a material for 3D printing, at CHINAPLAS 2015 that was held over four days from the 20th in Guangzhou, China.
KOLON Plastics provided the opportunity for visitors to better understand what engineering plastics are through hands-on experiments. KOLON Plastics’ booth resembled a small laboratory with a wide range of devices installed, which allowed visitors to witness the characteristics of the plastics material of their choice. For instance, visitors could drop a metal weight on a plastic or try to break materials to test their strength. Also, a millstone-shaped device was used to test and check wear-resistance.
Visitors were also allowed to measure the weight of the composite material made with carbon fibers and compare it with a piece of metal of the same size to understand how lightweight it really is. The weight of KompoGTe is only 25 percent that of steel, but it is over ten times stronger and over seven times more elastic, thus favored as the material for automobiles, aircrafts, and spacecrafts.
KOLON Plastics also showcased INKRAYON, a new material for 3D printing. It is an eco-friendly material that meets the FDA’s standards. It is produced with harmless, flexible carbon fibers and thus is expected to be used in a versatile manner for baby products including toys and household goods. KOLON Plastics plans to release INKRAYON around August and mainly target the markets of educational materials and household goods. It will gradually expand INKRAYON’s applications and advance into the industrial 3D printing market.
CEO Jang Hee-gu said during his visit to the exhibition site, “We plan to further accelerate our advance into the global market by reinforcing our foothold in the rapidly growing automobile and electric and electronic goods markets of China. Composite materials with thermoplastic carbon fibers and materials for 3D printing will serve as an important driving force for us in the long run.”
One visitor at KOLON Plastics’ booth said, “It was a good opportunity to learn about the hard-to-understand concepts of strength and wear-resistance through different experiments. It cast new light on plastic as the material of the future that can replace metals. I did not know plastic could even be used for 3D printing.”
Invossa™, the world’s first gene therapy for degenerative arthritis currently under development by KOLON Group (Chairperson Lee Woong-yeul), now enters phase III clinical trials with approval from the US Food and Drug Administration (FDA). This is the first time in the industry that a gene therapy for degenerative arthritis has been approved to enter phase III clinical trials by the FDA.
Invossa™ is the official name for the new medicine that has been known as TissueGene-C (a development code). This name was coined in accordance with the FDA’s medicine naming guidelines and is undergoing preliminary review. Invossa™ stands for “an innovative arthritis treatment.”
TissueGene, Inc., a subsidiary of KOLON Corporation in the US, completed the Special Protocol Assessment (SPA) and decided to enter phase III clinical trials for Invossa™ with approval from the FDA on May 15th. SPA is a procedure aimed at minimizing the possibility of failure due to incorrectly designed clinical trials through consultation with the FDA in advance about the plan for phase III clinical trials, including evaluation indexes and ways to attain statistical significance.
Through the phase III clinical trials, about 1,020 patients across the US will be injected either with Invossa™ or a placebo and measured for knee function improvement, the intensity of pain, and the joint space width in order to assess the drug’s effect. Data collected during the testing will be included in the company’s submission for the Biologics License Application to the FDA. Once approved by the FDA after phase III testing, Invossa™ is likely to become the world’s first FDA-approved disease-modifying osteoarthritis drug (DMOAD).
CEO Lee Woo-sok of both KOLON Life Science and TissueGene said, “We are thrilled to gain approval from the FDA for the phase III testing. We hope to contribute to relieving the pain of 150 million patients suffering from degenerative arthritis across the world by successfully completing the trials." KOLON Life Science is carrying out phase III clinical trials in Korea with 156 patients at 12 college hospitals including Seoul National University Hospital, Samsung Medical Center, and Asan Medical Center. The company plans to complete the clinical trials by July of this year and apply for approval from the Ministry of Food and Drug Safety before the end of the year. CEO Lee said, "With its commercialization in Korea next year, we plan to also introduce Invossa™ in the Asian market. We expect it to help us expand our presence in the global arena."
Invossa™ is a gene therapy that treats degenerative arthritis by simply injecting healthy human allogenic cartilage cells and cells with growth factors that promote cell differentiation into the glenoid cavity of the knee with a syringe. These cells can be mass produced, and thus this product is expected to be an innovative treatment that can readily respond to the growing demand.
KOLON Industries (KOLON) announced that it has agreed to resolve the civil trade secrets dispute with DuPont on the 1st (Korean time) in the US District Court for the Eastern District of Virginia and the related criminal charges filed by the US Attorney’s Office and the US Department of Justice, Criminal Division.
These settlements allow KOLON to put the legal dispute with DuPont behind it, which has lasted for six years since 2009 over the development of KOLON’s aramid brand Heracron, and to focus its resources on the production and sale of Heracron in the global market.
CEO Park Dong-moon said, “We are glad that the civil and criminal disputes over Heracron are finally settled. The disputes were resolved in a mutually satisfactory manner.”
Pursuant to the settlements, the civil action filed against KOLON by DuPont is resolved, and KOLON is able to continue the production and sale of Heracron products. CEO Park added, “These settlements enable us to freely expand our aramid fiber business and reinforce our global presence.”
Under the agreement of both parties, DuPont will receive a total of USD 275 million as restitution. The criminal case was also resolved through the Plea Agreement. KOLON pled guilty to a single count of conspiracy to convert trade secrets and agreed to pay a fine of USD 85 million. In return, the US Attorney’s Office agreed to dismiss all other charges, including those related to theft of trade secrets and obstruction of justice. KOLON Corporation is also a signatory to the Plea Agreement and is bound by its terms. KOLON is required to pay restitution and the fine in installments over the next five years.
Auto Parts & IT
KOLON provide the best value to our customers by automotive parts and IT convergence, a service based on new materials technology.
The environmental infrastructure and green energy projects will create a healthy and more clean future environment.
KOLON's 20 various brands and Portfolio enhance the value and competitiveness in the global market.
By means of core material development, KOLON will create a better life than now.
Bio &Health Care
KOLON jumps up to become a global leader in the pharmaceutical industry by a technical partnership with the developed countries and a new medicine.
A engineering and construction business based on expertise and know-how is expanding its position as global marketers with new markets.