Investment
IFEZ-BGF Eco Bio has signed an MOU to invest in product development and manufacturing facilities.

BGF EcoBio builds eco-friendly manufacturing facilities in Cheongna

On March 27, the IFEZ and BGF EcoBio signed an MOU. The status of Cheongna IHP will be further enhanced by attracting sustainable eco-friendly high-tech manufacturing facilities.

Planning of Cheongna IHP Industrial Complex for BGF EcoBio

On March 27, the IFEZ and BGF EcoBio signed an MOU to establish cooperative relations for product development and manufacturing facility investment for BGF EcoBio in Incheon High Tech Park (IHP) in Cheongna, further diversifying cooperative efforts for advancing industries related to Cheongna’s urban cutting-edge industrial complex. This MOU comes as the fruition of the IFEZ’s efforts to draw in companies and research facilities related to the cutting-edge parts material industry, in order to be reborn as a core hub for the fourth industrial revolution. The IFEZ plans to pursue technological independence, such as through domestic development and manufacturing of automation equipment, by inducing headquarters, manufacturing facilities, and companies’ R&D centers to be housed in IHP and by supporting the competitiveness of small and medium-sized companies.
BGF EcoBio, an affiliate of BGF Group, is a corporate body newly established in June of last year. It is the only company in Korea that possesses the core technology for foaming polylactic acid (PLA) to replace petroleum-based plastics, and it has demonstrated its initiative in switching to eco-friendly materials. PLA is an FDA-approved eco-friendly resin extracted from sugar cane, maize, etc. The manufacturing method for foaming PLA increases the volume of the material by making bubbles, and the price competitiveness for this material is high, as it can be manufactured into a high-volume product with only a small amount of materials, is lighter than conventional plastic materials, and provides excellent heat reservation.

BGF EcoBio Facility for Developing Cutting-edge Products
Location : Incheon High Tech Park, Cheongna
Gross Area : 15,623㎡
Total Expenditure for Project : Approximately 49.3 Billion KRW
Main facilities : Eco-friendly plastic manufacturing facility
To be Completed by : March 2021 (scheduled)

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