SKC wins its first order for jounce bumpers from global suspension firm
Develops entire process ranging from material synthesis, production process and manufacturing for first time in Korea using in-house technology
Aims to control 30% of the global market, achieve 200 billion won in annual sales by 2020




On December 2, SKC announced that it had received an order to supply jounce bumpers, a core part of automobile suspensions, from a global suspension company. A jounce bumper is a polyurethane elastomer product installed in automobile suspensions to absorb shocks jointly with a l spring. Using its own in-house technology SKC has developed the entire process, ranging from materials synthesis to manufacturing, through independent research and development efforts for the first time in Korea. The Company also completed a production plant capable of rolling out 3 million units per year in August.

Aiming to Achieve 200 Billion Won in Annual Sales to Control 30% of the Global Market by 2020

Explaining the significance of SKC’s achievement, SKC CEO Park Jang-suk said, “The commercialization of jounce bumpers is a good example of our successful entry into a new advanced functional material market by upgrading SKC’s polyurethane technology.” He also announced the Company’s goal of securing an annual output of 100 million units and recording 200 billion won in sales to share 30 percent of the global market by 2020. The global jounce bumper market has been valued at an estimated 550 billion won in 2014, while the Korean market has been estimated at 50 billion won. At present, BASF controls more than 70 percent of the global market, and over 90 percent of the Korean market.

Armed with Experience in the Development of World-Class Products, Fundamental Technology, the Company Product Has Unlimited Potential for Applications

The jounce bumper, researched and developed by SKC over a period of more than two years, has been uated to be on a par with world-class products in terms of its quality. Since jounce bumpers boast strong durability and elasticity, making them suitable for many different applications, SKC, which possesses the fundamental technology, is concurrently seeking the commercialization of its new products. As the Company is already testing (with customers) its shock absorption products for railroads, home appliances and elevators, it is expected to see tangible results sooner rather than later. Notably, as the Company plans to start applying its products to railway tracks in Korea and before applying them to Chinese and Eurasian railroads, expectations are high for these products due to their huge growth potential. In the near future, SKC will continue to expand its areas of application and develop new products.

SKC Emerging as Global P Specializing in Materials through Successive Commercialization of Specialty Materials

SKC plans to apply the technological capability that it has built up in the core businesses of chemicals and films over the past years to the development of high value-added products. Since successfully commercializing its ferrite sheet, an inorganic-organic composite material, the Company has successfully commercialized solar panel adhesive products and a high heat-insulation coating material for LPG carrier vessels in succession, and is set to industrialize the jounce bumper, which is a new material, and is rapidly increasing the ratio of its high-performance specialty product sales to total sales. With these efforts, the Company plans to expand the share of special product sales from about 7 percent of its total sales at present to over 30 percent by 2018, in a bid to become a ‘global p specializing in materials.’

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