South Korea’s Hyosung TNC to invest $1 billion in Vietnam.
The issuance was made at the “Ba Ria-Vung Tau Province Vision Declaration and Investment Approval Ceremony” held in Phu My 2 Industrial Park in southern Vietnam last Saturday.
Hyosung TNC plans to proactively respond to the global materials market’s reorganisation around sustainable products by investing $1 billion to establish multiple Bio-BDO production plants capable of producing 200,000 tonnes annually.
BDO (Butanediol) is a chemical used as a raw material for PTMG, which is used to make spandex fibre. In addition to spandex (PTMG) fibre, BDO applications have expanded to include engineering plastics, biodegradable packaging, footwear soles, industrial compounds, and many other industries.
Bio-BDO is manufactured by fermenting sugars derived from sugarcane, replacing traditional fossil raw materials such as coal by 100 per cent. It is expected to draw in significant attention in the sustainable materials market.
Hyosung TNC recently formed a technology partnership with Geno, a US sustainable materials and technology leader, whereby it has taken licences for GENO BDO technology.
Geno’s proven technology enables Hyosung TNC to fast track their project and unlocks the production and selling of Bio-BDO with an annual capacity of 50,000 tonnes in the first half of 2026.
Source: VIR
