SOUTH KOREA: CONSTRUCTION START-UP ON PLANNED ELECTRONIC AND FINE CHEMICALS PLANT AND ASSOCIATED...

PROJECT OVERVIEW:

Japan-based SUMITOMO CHEMICAL acquired in early 1998 all the shares held by the local ORIENTAL CHEMICAL INDUSTRIES in a company known as DONG WOO PURR CHEMICALS. The latter is involved in the production of high-purity chemicals for semiconductors. The company, in question, was originally established in 1991 as a joint venture between ORIENTAL CHEMICAL and ITOCHU CORP. of Japan.

Re-launched as a 90% SUMITOMO-owned subsidiary, in April 1999 the company's name was changed to DONG WOO FINECHEM. As things currently stand, besides high-purity