Korean companies adjust their export strategies to China to export high value-added and scarce chemical products
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According to reports, Samsung-Total Chemical Co., Ltd. is striving to export to China the water-impermeable polyethylene produced by China and used for the production of bottle caps. At the same time, it exports a large number of non-condensing and translucent agricultural plastic films to China. High performance raw materials for automotive exterior plastic parts. The company has offices in Beijing, Shanghai, Shenzhen and Hong Kong and is responsible for supplying customers in all regions. Samsung’s plan is to convert chemical products exported to China into high value-added products in the next three years.
Samsung’s staff responsible for China’s export business took a new approach to working in China every week. As a result, its new customers in China increased by more than 30%. Samsung's statistics show that the company's high value-added chemical products exported to China are 30% higher than ordinary products. Therefore, the company will greatly reduce the production capacity of ordinary products this year, so that the production of high value-added products will rise to 80% of the total output. In order to achieve this structural transformation, Samsung decided to invest more than 600 million US dollars to promote the upgrading of products.
LG Chemicals and Hankook Petrochemicals mainly export building materials, interior decoration and decorative chemical materials to China. Their product features are good environmental performance, which is exactly the shortcoming of most Chinese chemical companies. The company's offices in Beijing, Shanghai, Guangzhou, and Shenyang have all worked hard to open up the Chinese market with environmentally-friendly building materials, and sales have continued to expand, while the proportion of ordinary building chemicals has fallen by more than 28%.
In order to develop into a globalized transnational chemical company, Korean chemical companies also work hard on the brand. LG Chemicals recently decided that it will no longer use the “LG†trademark for all building chemicals used in domestic sales and exports, and will instead use the “Z:IN†trademark. Samsung-Total Chemicals and Hankook Petrochemicals are also studying trademark brands that are more suitable for globalization. The program is marked with English letters. The trademark of such a product can be unified and eye-catching, allowing users all over the world to be able to see at a glance.