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					한국 석유화학 산업의 발전방향




Sep. 19, 2011
목차




       Ki-Joon Hong

     ( kjhong@hanwha.co.kr)
Contents
 목차                                            3




   Ⅰ. Petrochemical Industry in Korea
      1. Prolog
      2. What is the petrochemical Industry?
      3. Petrochemical Industry in Korea
      4. Hanwha Chemical Corporation

   Ⅱ. New Horizon of Chemical Industry
      1. Solar
      2. Secondary Battery
      3. Nano Technology
      4. Bio Technology
목차
Ⅰ. Petrochemical Industry of Korea

 1. Prolog
 2. What is the Petrochemical Industry ?
     (1) Definition
     (2) Characteristics

 3. Petrochemical Industry in Korea
     (1) Development History
     (2) Current Status
     (3) Key Success Factors
     (4) Major Issues
     (5) Strategies For the Future

 4. Hanwha Chemical Corporation
1. Prolog
 목차                                                                                   5



      Growth of Korea Petrochemical Industry
                                1970       1981       2009       2010    Remarks
            GDP(Billion $)             8       72       833      1,014    126times↑

        GNP per capita($)          255     1,826     17,175     20,759     81times↑

         Capacity(kMT)*)            70      1,119    20,995     21,201    302times↑

        *) Petrochemicals Total (Syn. Resin, Syn. Fiber, Syn. Rubber)

     Status of Korea Petrochemical Industry                              (2010)

            World top 5 Ranking in Production capacity (C2: 7.6Mn tons)

            4th biggest industry in Korea
            Export base in Far East Asia Market
1. Prolog
 목차                              6




        What made it possible?
2. What is the Petrochemical Industry ?
  목차
(1) Definition                                                                          7


  Definition
  Makes: - synthetic resin (plastic) - synthetic fabric (Polyester, Nylon)
             - synthetic rubber                   - various chemical substances

  Upstream Industry            Petrochemical Industry             Downstream Industry

                                           Synthetic Resins
 Crude Oil    Gasoline   Basic             Polyethylene
                         Petrochem.        Polypropylene
             Naphtha     Ethylene          Polystyrene
                         Propylene
                         Butadiene
             Kerosene    BTX               Synthetic Fiber
                                           Raw Materials
                                           PTA
              Diesel                       Acrylonitrile
                                           Caprolactam
                         Intermediates
               B-C        Para-Xylene
                          VCM              Synthetic
                          Styrene
                                           Rubbers
                                           SBR
                                           BR

                                                Others
2. What is the Petrochemical Industry ?
  목차
(2) Characteristics                                                8


Characteristics

    Capital-Intensive and technology-oriented
    ○ High Investment Cost
    ○ Technology oriented
    ○ Vertically-Integrated Complex
    ○ Scale Merit

    Raw materials Supply to Major Industries
    ○ Automobile, Electric/Electronic, Architectural
      and Textile Sectors.
    Stepping Stone to High value-added
    ○ Naphtha 0.18 ton (US$ 198) → Petrochemicals (US$ 250)
                                   → Consumer Goods (US$ 15,000)
    Eco-friendly Products
    ○ Base materials for daily necessities
 목차
(2) Characteristics                                                                         9

Characteristics

How much petrochemicals around you?                    Weight
                                        Items           (g)   Chemicals        Part
                                      Jacket             400      400            All
                                      Pants              300      300            All
                                      Belt               150        20        Liners
                                      Underwear          100         5     Elastic liners
                                      Shoes              300      100     Heel, Inner mat
                                      Glasses              50       30         Lens
                                      Cell phone         100        80     Case, parts
                                      Bag                700      600      Syn. leather
                                      Credit Card           5        5           All
                                      Wallet               30        5      Inner parts
                                      Socks                20       10       Syn. Fiber
                                      Ring                  2         -           -
                                      Writing tackle       50       45        Holder
     “70% of our body - water,        Handkerchief         10        5       Syn. Fiber
     “70% of our belongings           Total             2,217    1,605       about 70 %
      -petrochemical products”
3. Petrochemical Industry in Korea
  목차
(1) Development History (1/6)                                                                                                                                                                                                                     10

                          Mid of 1966 ~ 1978                                                 1979 ~ 1988                  1989 ~ 1997                 1998 ~ 2003                                  2004 ~
                         (Era of development)                                               (Era of growth)               (Era of leap)           (Era of restructuring)                       (Era of re-leap)


                                                                                       Government sector-led                                                                  Private sector-led
Major player of dev.
 & characteristics              Government-led                                            Laying foundation of       Large-scale expansion          Restructuring of                     Build up Economic scale
                             nurturing of industries                                    petrochemical industry      (launch of Daesan CLX)        industries, Proactive                   & foreign investments
                             (launch of Ulsan CLX)                                      (launch of Yeosu CLX)                                              M&A

 Ethylene capacity                             115,000 MTA                                   505,000 MTA                4,330,000 MTA                5,760,000 MTA                             7,770,000 MTA
(No. of companies)                            (one company)                                (two companies)             (eight companies            (seven companies)                           (six companies)


  Trade balance                                 Net import                               Net import ⇒ Balance        Balance ⇒ Net export                                         Net export


  Major growth-                                                                            Light industry ⇒       Heavy and chemical industry Parts and material industry                      IT/ BT/ NT/ ET
                                              Light industry
 Leading industry                                                                      Heavy & chemical industry In Asian developing countries     Chinese market                              BRIC’s market
                        · SK #1 (100/Ulsan)




                                                               · YNCC #1 (350/Yeosu)




                                                                                                                                                         · LDPC (600/Yeosu)
                                                                                                                   · YNCC #3 (250/Yeosu)
                                                                                                                   · SK #2 (400/Ulsan)
                                                                                                                   · Samsung Total (350/Daesan)
                                                                                                                   · LG PC (350/Yeosu)
                                                                                                                   · LG Chem (350/Daesan)
                                                                                                                   · Korea PC Ind.(250/Ulsan)
                                                                                                                   · Honam PC (350/Yeosu)
                                                                                                                   · YNCC #2 (350/Yeosu)
                                                                                                                                                                                  Petrochemical




                                                                                                                                                                                                                  (Petrochemicals, million MTA)
                                                                                                                                                                                   Production
   (GDP, billion US$)




                                                                                                                                                                                          GDP
                                                                                                                                                                                        in Korea
 목차
(1) Development History (2/6)                                                                                11

Development Period : 1966~1978

                   The First 5-year Plan for Economic Development (’62-’66/Focused on Light Industry)
    Domestic
                    ⇒ The key factor: Substitution for imported raw materials
    Environment
                   The petrochemical industry was selected as the core of the second 5-year Plan
                    for Economic Development(’67-’71).

                     1966   The Plan for developing the petrochemical industry was announced.
    History          1967   The Petrochemical Industry was suggested as the promising Industry
                             by ADL (Arthur D. Little)
                     1970   The Petrochemical Industry Development Law was established and announced.
                              - The basic system was prepared to develop the petrochemical industry
                     1972   The Ulsan Petrochemical Complex was completed.
                              - 9 Plants including the NCC (Ethylene 100KTA)


                  “Industry Development Driven by the Government”
    Special        Investor : The government, national enterprises and foreign companies (Dow, Gulf etc.)
    Feature
                   The monopolistic market led by domestic supplier substituting for import


    Global         Several major companies in developed countries had leadership and
    Environment     started globalization.
                   Stable earning due to continuous demand growth in the Western Europe,
                    N.America and Japan
 목차
(1) Development History (3/6)                                                                                 12

The Growth Period : 1979~1988

    Domestic       Rapid economic growth increased demand for petrochemicals.
                    (GDP Growth rate during ’71-’78 : 8.5%/yr)
    Environment

                   1979    The Completion of the Yeosu Petrochemical Complex a→ self-sufficiency
    History                 - Ratio of self-sufficient : 47% (’78) ⇒ 75% (’88)
                   1986   The abrogation of the Petrochemical Industry Development Law &
                           Effectuation of Industry Development Law
                           - The investment for the petrochemical industry was Liberalized
                              (The investment was controlled by administrative guidance)



                   New plants in Ulsan/Yeosu Petrochemical Complex brought about self-supply of
    Special         petrochemicals.
    Feature
                   The investment liberalization brought about a big scale of capacity expansion &
                    take-off.
                   Investor : Transition from National Capital to Private Capital


                   Oil majors expanded beyond oil, working on the petrochemical industry after the 2nd Oil
    Global          Crisis.
    Environment
                   Majors’ diversification of business due to poor profit
 목차
(1) Development History (4/6)                                                                                  13

The Take-off period : 1989~1997

                   Big investment by Private companies under liberal investment environment
    Domestic
    Environment

                   1989-1992     Big capacity expansion in Ulsan/Yeosu Complex (CLX)
    History                      New petrochemical complex in Daesan (Private capital)
                                - Ethylene 2,650KTA [Ulsan(650KTA), Yeosu (1,300KTA), Daesan (700KTA)]
                   1995         Abolition of administrative guidance about investment – Full liberalization


                   Investor : Private companies
    Special
                   Huge capacity increase caused by Ulsan/Yeosu CLX expansion & Daesan CLX project
    Feature
                   The petrochemical industry became export industry because of capacity expansion &
                    increased demand in Asia.
                   References
                    - # of NCC [Ethylene Capa.] : 2 ⇒ 8 companies [505KTA(’88) ⇒4,920KTA(’97)]
                    - Ratio of self-sufficient : 75%(’88) ⇒ 140%(’97)


    Global         The end of the Cold War & Economic Globalization
    Environment    Economic depression in Europe and Japan & Growth of Asian Economic power
                   Demand & Import of petrochemicals in Asia, including China, soared
 목차
(1) Development History (5/6)                                                                                  14

The Restructuring Period : 1998~2003

                   Asia Financial crisis in late ’90s.
    Domestic
    Environment    Supply Surplus impacted the profitability of the industry



                     1999    YNCC, the integrated NCC of Hanhwa Chemical & Daelim – business swap
    History          2003     Increase of consolidation
                             - SamsungTotal was created by Samsung Chemical and its partner, Total (France).
                             - Hyundai Chem was acquired by LG Chem and Honam Petrochem consortium.


                   Active business restructuring and M&A
    Special
    Feature        Perfect competition market dominated by customer
                     : Keen competition among players by liberalization of regulation
                   References
                    - # of NCC [Ethylene Capa.] : 8 ⇒ 7 companies [4,920KTA(’97) ⇒ 5,720KTA(’03)]
                    - Ratio of self-sufficient : 140%(’97) ⇒ 164%(’03)


                   Accelerated M&A and Creation of corporate giants
    Global
    Environment    Asia Economic Crisis & the burst of the IT bubble caused the depression in petrochemical
                    business
                   ※ BP+Amoco(’98) / Exxon+Mobil(’99) / Chevron+Phillps(’00) / Dow+UCC(’01) /
                    SABIC+DSM(’02)
 목차
(1) Development History (6/6)                                                                               15

The Second Take-off Period : 2004~

                   Reinvestment return rises led by the petrochemical business recovery
    Domestic
    Environment    The stagnation of the petrochemical domestic sales



                   2005     Honam Petrochem. has a plan to advance into Qatar.
    History        2006     OCU investment (KPIC, LGPC)
                   2007~ New NCC Projects (additional ethylene capacity, start-up)
                         - LG Chem.(280KTA, ’07), Samsung Total(200KTA, ’07), Honam PC(350KTA, ‘08)
                           YNCC(38KTA, ‘09), LG Chem.(120KTA, ’10), YNCC(50KTA, ‘10)

                   Increased capital investment for economy of scale and additional production of Propylene,
    Special         BTX
    Feature
                   The growth of foreign direct investment for China and the Middle East
                   References
                    - # of NCC [Ethylene Capa.] : 7 companies [5,760KTA](’03) ⇒6 companies [7,770KTA](’10)]
                    - Ratio of self-sufficient : 103%(’03) ⇒ 105%(’10)


                   Excellent cost competitiveness of the Middle East petrochemical companies
    Global
    Environment    The large scale projects in China for self-sufficiency
                   High cost pressure followed by record oil prices
3. Petrochemical Industry in Korea
  목차
(2) Current Status (1/4)                                                                           16


     World’s top-5th production scale: ethylene 7.6 million tons


                                                               Ranked 4th among domestic
        Ethylene capacity by country in 2010
                                                               manufacturers
                                                                 Production amounts $52.5billion
                                      (Unit: million ton/yr)
         26.2                                                    Rating in the manufacture
                                                                 industry: 5.9%


                  15.0
                                                               Domestic top-5th exporting item
                         13.8                                    Exporting - $35.7 Billion
                                                                 Importing - $13.3 Billion
                                8.0
                                           7.6
                                                    5.8
                                                                 Trade balance :
                                                                 $2.4 billion in the red(1990)
         U.S.     China Saudi Japan Korea Germany                ⇒ $22.4 billion in the black(2010)
                        Arabia
(Source) Tecnon
 목차
(2) Current Status (2/4)                                                                               17

 Capacity of major petrochemicals in Korea


                                                                                          (Unit: KTA)
                                        Rubbers 1,588
                                        Others 6,767
                                                                                  Basic Petrochem.
                                                etc.
                                  Fiber Raw                                        Ethylene       7,770
                                  Materials                                        Propylene      5,801
                                                               12%                 Butadiene       1,257
                                 TPA    6,390
  Capacity of major              EG     1,352
                                                                                   BTX            11,599
                                 AN etc. 900           13%                 38%
  petrochemicals:
  68.7 million MTA
  (2011.6)                                             18%

                                                                     18%
                                                                                 PX/OX         5,590
                                               Synthetic Resins                  SM            3,383
                                                                                 EDC/VCM       2,418
                                             Polyethylene    4,318
                                                                                 EO/PO etc.    1,290
                                             Polypropylene   3,958
                                             PS/EPS/ABS      2,900                Intermediates
     (Source) KPIA                           PVC             1,380
 목차
(2) Current Status (3/4)                                                                                 18

      The development of the petrochemical industry was mainly driven by
      complexes located in Ulsan, Yeosu and Daesan. The aforementioned
      complexes are composed of 8 NCCs and 174 Downstream facilities.

      Petrochemical complexes in Korea
                                                                  Refinery        Petrochemical Plant
                                                                  Company
                                                                                 NCC        Downstream
                                                   Ulsan CLX         2             2             67
                                                   Yeosu CLX         1             3             64
 Daesan complex
                                                   Dasan CLX         1             3             32
 · NCC: SamsungTotal/ LG Chem/
         Honam PC                                  Others            1             -             11
 · Capacity by item (million MTA):                 Total             5             8             174
   C2(2.8)/PE(1.2)/PP(1.6)/PVC(0.2)

                                          Seoul




  Yeosu complex                                                Ulsan complex
  · NCC: Honam PC/ LG Chem/ YNCC                               · NCC: SK Global Chemical/ KPIC
  · Capacity by item (million MTA):                            · Capacity by item (million MTA):
    C2(3.7)/PE(2.1)/PP(1.3)/PS(0.4)/                             C2(1.3)/PE(1.0)/PP(1.1)/PS(0.8)/
    ABS(1.1)PVC(0.9)                                             ABS(0.5)PVC(0.3)
 목차
(2) Current Status (4/4)                                                                                             19

   Export-focusing Expansion in early 1990
   ○ Export Ratio
      - Based on Petrochemicals Total (Syn. Resin, Syn. Fiber, Syn. Rubber) :
          44%, 9million Ton (2010)

   Export mainly to China


  Supply & Demand Trend                                             Regional Petrochemicals export
                                                [Unit : KT]                                              [2010]
 25,000
                             Production         Import
                             Export             Demand
 20,000                                                                Others    L. America N. America
                                                                           3%        3%      4%
 15,000                                                       9mT   Europe
                                                                      7%
 10,000

  5,000                                                             Other Asia                             China
                                                                       36%                                  48%
     0
           '90   '00   '05   '06   '07    '08    '09   '10


                                                                                                   [Source : KPIA]
3. Petrochemical Industry in Korea
  목차
(3) Key Success Factors (1/4)                                               20




   Strong Leadership and Elaborate Plan                        Market


                                                       Comp
   ○ Strong driving force                              anies

                                                                 Governme
                                                                    nt
   ○ Elaborate plan for Vertically integrated Plants

   ○ Support in Infrastructure

   ○ Inducing Foreign Investors
 목차
(3) Key Success Factors (2/4)                                  21




   Excellent Manpower                             Market


                                          Comp
   ○ Excellent Technical People           anies

                                                    Governme
                                                       nt
   ○ World Top level of Operation Skill

   ○ Effective Technical service

   ○ knowhow for product applications
 목차
(3) Key Success Factors (3/4)      22




   Entrepreneurship

   ○ Aggressive Investment

   ○ Looking for overseas Market
 목차
(3) Key Success Factors (4/4)                                                                                 23



      Emerging Market
      ○ Rapid Growth of China
      ○ Easy Access to China
 Import of petrochemicals in China (2009)               Delivery cost for China port

                                                                 Ocean Freight            Days of Delivery
                                                                   (USD/ton)                  (days)
                  Other
Singapore          27%              Korea
                                                Korea                   9                        2
   3%                                19%
Thailand                                        Japan                  15                        5
   4%
                                            Saudi Arabia               21                        15
Saudi Arabia
    5%      USA                     Japan         US                   35                        14
                          Taiwan
             9%                       17%
                           16%
                                            (note) based on polyolefin (20ft container)




                                                                                            [Source : CMAI]
3. Petrochemical Industry in Korea
  목차
(4) Major issues (1/3)                                                                                                             24



                   Threat by the expansions in ME & China
                   ○ Big investment in Middle East weakens the economics
                   ○ Big Investment in China narrows the export market



    Ethylene supply & demand in the world                                 Ethylene equivalent balance in China
             12.0                                        94%                     30                                         70%
             10.0                                        92%                     25                                         65%
   million tons




                  8.0                                    90%                     20                                         60%




                                                                  million tons
                                                                                 15                                         55%
                  6.0                                    88%
                                                                                 10                                         50%
                  4.0                                    86%
                                                                                 5                                          45%
                  2.0                                    84%                      -                                         40%
                    -                                    82%                     -5                                         35%
                       '04 '05 '06 '07 '08 '09 '10 '11                      -10                                             30%
                  -2.0                                   80%
                                                                                       ’95   ’00   ’03   ’05   ’08    ’10
                    M.E. Capa. addition   China Capa. addition
                    Other Capa. addition  O.R.(%)                                     Production           Domestic demand
                    Demand addition                                                   Deficit              Self-sufficient ratio


  [Source : CMAI]                                                [Source : METI in Japan]
 목차
(4) Major issues (2/3)                                                                                                                                                                                  25



            Increase of Feedstock Price
            ○ High Oil Price results in High Naphtha Price
            ○ High naphtha price has impact on demand



   Supply & demand of feedstock (2009)                                                                    Trend of oil & naphtha price

                                               (Unit: million ton)                                1000                                                                             140
                                                                                                  900           Naphtha C&F Japan
                                              Import of                                                                                                                            120
                                                              Indirect import
              Direct import




                                                                                                                WTI (usd/bbl)
                                              crude oil                                           800
   Supply




                                                                                Naphtha(usd/MT)
                                Import of                                                         700                                                                              100




                                                                                                                                                                                         WTI(usd/bbl)
                                 naphtha                                                          600
                                               Refinery                                                                                                                            80
                                   15.9
                                                                                                  500
                                             Supply of                                                                                                                             60
                                                                                                  400
                                             feedstock
                                                22.3                                              300                                                                              40
                                                                                                  200
                                                      Other 3%
   Demand




                                                                                                                                                                                   20
                                                                                                  100

                                      Total : 38.2                                                  0                                                                              0
                                                                                                         '99.3 '00.3 '01.3 '02.3 '03.3 '04.3 '05.3 '06.3 '07.3 '08.3 '09.3 '10.3

                              Naphtha 97%

                                                                                                                                                          [Source : CMAI]
 목차
(4) Major issues (3/3)                                                                                            26



     Lack of Core Technology
     ○ Reaching advanced level of manufacturing technology for general product
     ○ Not good enough for basic processing, catalyst and high additional value
       Product manufacturing technology

                                        Comparison of technology level

                                         Production   Application       Process      Catalyst    Specialized
                                         technology   technology      technology   technology    technology
              Technology level
                 (US=100)
                                          90~100       80~90           70~75        60~70          70~80


                                                                    Technology (US=100)
                                                      USA              Japan         EU            Korea
                 Process technology
             - Process facility tech.                  100             80~90         80              70
             - Process develop. Tech.                  100            90~100       90~100            75
                  Catalyst technology
             - Petrochemical cat.                      100            80~90           90             70
             - Fine chemical cat.                      100              90            90             60


                                                                                                [Source : KIET]
3. Petrochemical Industry in Korea
  목차
(5) Strategies for the future                                                                         27


     Advanced Petrochemical Industry with global competitiveness
               To pursue technical independence
               To increase the portion of high value-added products
               To secure cheaper feedstock
               To get into the emerging markets
               Green Growth Business


   Strengthen competitiveness            Customer-oriented                 Eco-friendly
     to lead the global market      High-technology development       Petrochemical industry


   Scale economics,                  Petrochemical core technology   Counter-plan for environmental
   Specialization,                   - Future market-creating        regulation
   Strategic partnership               technology                    - The Climatic Change
   High efficiency in the complex    - Technology reducing           Convention
                                       dependence on imports         - Strict regulation in Europe
    Foreign investment &             Strategic technology            Development of eco-friendly
    diversification of export        development                     products
    markets                          - High value-added products     Image marketing of the
    Revitalization of equipment      - Revolutionary new materials   petrochemical industry
    investment
                                     - Advanced process
4. Hanwha Chemical Corporation
(1) Company Overview                                                                                                                28



                                                                             Full experience in the industry for 46 years

  The History of Hanwha Chemical Corp.                                                    Status of Hanwha Chemical
                                                                                          in 2010
     5 PVC companies (1966)                                                                  Revenue : 3,628 billion won
                                                     Korea Pacific(Han-Yang)                 Operating profit : 486 billion won
                                                     Chemical (1969)
                                                                                             Establishment : Aug.1965
                                                    (Dow : Korea Gov’t = 50:50,)
       Korea Plastic Industry                                                                No. of Employee : 2,171
       (1972)
                                                                                             Business sites : Seoul, Taejon,
                                                        Dow Chemical Korea
                                                        (1975)                                Ulsan, Yeosu, China(Ningbo),
                                                    (Dow 100%)                                Saudi Arabia(Jubail), Thailand(Bangkok)
                                                                                              HanwhaSolarOne ,China (Qidong)



                                PE, Chlor-Alkali, PVC
               50%                                           100%
                                 Fully Integrated

    Yeochun NCC                                                Hanwha L&C

    (Naphtha Cracker)                                        (Plastic processing)
4. Hanwha Chemical Corporation
(2) Petrochemical Business                                                                                 29



                                         Vertical Integration from upstream to downstream
                                                        (1,000 MT)                        (As of 2011.5)
                                          Polyethylene(PE)
                      (1,000 MT)
      Naphtha Cracker                   LDPE              413
                                       (EVA               100)
     Ethylene          1,900            LLDPE             355
     Propylene           955
     BTX                 792
                                                                       Plastic Processing
     SM                  290           Polyvinyl chloride(PVC)
     BD                  220
                                                                            PVC Floorings
                                       EDC              1,491
                                       VCM                597                 PVC Tiles
                                       PVC/ PSR           560
                                                                         Automotive Parts
                                       PLZ                160
                                       OA                 123               Mock Marble
                                                                          Solar EVA Sheet
                                           Chlor-Alkali(CA)

                                       Chlorine          821
                                       NaOH              904
                                       ECH                25
   (Asia’s No. 2 Cracker, 50% stake)                                 (Plastic processing, 100% stake)

     Yeochun NCC (YNCC)                  Hanwha Chemical                    Hanwha L&C
목차                                    2
Ⅱ. New Horizon of Chemical Industry

 1. Solar

 2. Secondary Battery

 3. Nano Technology

 4. Bio Technology
3. New Business - Solar
 (1) Why Solar Energy                       31



                          As of Mid. 2010
3. New Business - Solar
 (2) High Demand of Solar Energy                                                               32




                                                                            51.4GW

                                                               45.4GW


                                                      34.3GW

                                    26.6GW
                                             23.7GW
                           18.4GW


                   8.4GW
           6.0GW
   3.4GW




                                                                 <Source: Photon Consulting>
3. New Business - Solar
 (3) Solar Technologies                                                                       33


PV Technologies
                R/D             Demo       Market Entry        Penetration         Maturity

                                                                       Mono c-Si
Silicon
                                                                       Poly c-Si
Conventional
                                                Ribbon


                               Speral                 Buried Contact
Silicon
               Thin Si                                         HIT
Advanced
                                                All- Back Contact


                                                                   A-Si
Thin Film                                                 Cd-Te
                                         CIGS


                        Dye Sensitized
Organic
               Organic Polymer
3. New Business - Solar
 (4) Solar Value Chain                                                              34


    Polysilicon          Ingot             Wafer                Solar Value Chain




                  Cell           Module            System




                                          Photovoltaic Theory
3. New Business - Solar
 (5) Solar Technology Landscape (c-Si)                                                                            35

     Efficiency (%)                                                                Mono-Si         Multi-Si
                                                                                     New Concept
      Long-Term High Efficiency Strategy
                                                           (Semiconductor Technologies, above 24%)
       HIT type of Hybrid Cell
       Semiconductor Process w/t FZ n-type Si
24     Multi-stacked Cell (Different Eg)
       Compound Materials
       Target : >23% Module Efficiency                                  Back Contact (IBC, above 22%)
                                                     Heterojunction Intrinsic Thin Film (HIT, above 22%)

22
     Short-Term Roadmap                   Emitter Wrap Through+
                             Passivated Emitter Rear Local/y (21%)

                                                  SE+RP                                             New Concept
20
                                                 (19.5%)                                            (above, 20%)
               Selective Emitter
                    (SE, 18.5%)                                             Rear Passivatiion
     Standard Cell                                                          (RP, 19%)
18                               RIE+SE(17.5%)
          (17.5%)                                                                Long-Term Low Cost Strategy
                                                    Fine Line Metallization
                                                    (FLM,18%)                     Metallurgically Purified Poly-Si
                                                                                   - KIER, Self-Development
                                     Reactive Ion Etching
                                                                                  Low Cost Wafering
16   Standard Cell                   (RIE, 17%)                                    - Direct Wafer, RGS
     (16.5%)                                                                      Screen Printing using Old Lines
                                                                                  Target : 14% Module Eff.
                                                                                    at ½ Cost/Watt of high Eff. Cell

     Year        ~ 2010            ~ 2011             ~ 2012          ~ 2013           ~ 2014             ~ 2015
3. New Business - Solar
 (6) PV Industry in Korea                                                                                           36

 2010 Year End Financial Result
  – Source : KOPIA, 2010.12
                            Sales     Export                             Capacity
                            (억원)      (억원)                              (ton, MW)
          Polysilicon        14,500    11,050                                    36,200
         Ingot/Wafer          8,700     5,593                  Ingot 1,600 / Wafer 1,570
             Cell             5,760     4,349                                      1,310
           Module            20,578    15,620                                      1,845
            Total            49,538    36,612

 Global Market Share of               Global Cumulative Installation (2010)
  Domestic PV Industry                   – Source : Solar&Energy, 2011 (MW)
  – Source : Ministry of              20,000
                                                17,308
       Knowledge Economy, 2010.10
   •    Polysilicon        18%        15,000
   •    Ingot/Wafer        12%
                                      10,000
   •    Cell                6%
   •    Module              5%
                                       5,000             3,859 3,382
   •    System              1%                                       2,951 2,631
                                                                                   1,590 856
                                                                                               805   749   652
                                                                                                                 2,590


  ※ PV industry comprises more than       0
    70% of total renewable energy
    sales in Korea
3. New Business - Solar
 (7) Performance in Solar Business (1)                                                          37



▶ History of Solar Investment
 • 2010.01.   :   Start up of the first commercial solar cell plant (30MW) in Ulsan
 • 2010.08.   :   Share acquisition of Solarfun in China (renamed to Hanwha SolarOne)
 • 2010.10.   :   Investment in 1366 technology (direct wafering technology, USA)
 • 2011.03.   :   Establishment of Hanwha Solar America (HSA)
 • 2011.04.   :   Establishment of Hanwha Solar Energy (HSE)
 • 2011.04.   :   Approval of 10,000 metric ton polysilicon project
 • 2011.09.   :   Investment in epitaxial technology (direct wafering technology, USA)


  Hanwha Chemical                           Hanwha SolarOne               Hanwha Solar Energy


     Polysilicon              Ingot/Wafer          Cell       Module           Downstream




▶ Polysilicon project
 • Capacity : Polysilicon 10,000 metric ton
 • Start up : 2013. 7. (100% operation at January 2014)
 • Location : Yeosu Complex
 • Investment cost : US$ 1 billion
 • Revenue : US$ 500 mil.
3. New Business - Solar
 (7) Performance in Solar Business (2)                                                                              38

  The Vision of Hanwha Chemical is to become a global leader in the solar industry by 2020, delivering
  complete solar solutions to address climate change, energy depletion, energy disparity, and energy security
  on a global scale.
                                                                                               Solar Energy




 Location: Shanghai, China
           Daejeon, Korea
           California, USA




Capacity: 10,000MT by 2014                                                                    SolarOne
Investment: USD 1 bil.                                                           Capacity: 800MW
Location: Yeosu, Korea                                                           Sales: USD 1,008 mil
                                                                                 Location: Qidong, China
                                                                                 Capacity Expansion: 1.5GW by Q4 2011




              SolarOne
Capacity: 630MW
Sales: USD 45 mil.                                                                        L&C
Location: Ulsan, Korea, Qidong, China
Capacity Expansion: 1.3GW by Q4 2011                  SolarOne
                                        Capacity: 400MW
                                        Location: Qidong, China
                                        Capacity Expansion: 1,000MW by Q4 2011
3. New Business - Secondary Battery
 목차
  (1) Industry Trends                                                                                                                39


                       Trends of Battery Market                                Trends of Cathode Material

                           Robot




                                                        Voltage (V)
                                                                                       LFP, LMP, LNP, ...
                                                  ESS

                                            xEV                                   Olivine
 Blue Ocean




                                                        5
                                                                                                                Next
                                                                                                             Generation
                                 E-Bike   UPS                                                                 Material
                                                                                                            (> 1kWh/kg)
                                                        4
                          Tool                                          Spinel
 Red Ocean




                      Laptop                                                           Layered
              Phone                                     3             LMO, LNMO, ...

                                                                                                  NCA, NMC, Co-free, ...


                  Wh                  kWh         MWh                    100            200                 300   Capacity (mAh/g)



 Rapid growth of xEV & ESS market                       Competition between 3 kinds of materials
 Importance of Large-Scale Li-ion battery               Need of larger capacity and higher voltage
3. New Business - Secondary Battery
 목차
  (2) What is Lithium-ion Battery?                                                                                                   40


   Lithium Ion Secondary Battery                                      Direction for Development

                                                    1    80’s: Classified as small Business, slowing down the development

                                                   In2   1991: Sony’s first commercialization brought interests to Korea Companies
                                                   -           (Samsung, LG)

                                                    3    In 1999: LG’s First Li-ion battery mass production
                                                         In 2000: Samsung’s First Li-ion battery mass production

                                                    4    In 2000: Advanced in battery materials and domestic manufacturing
                                                                  equipments accelerating the pace of Li-ion battery development
                                                                  - Samsung took over the first place over Sony in Small commercial
                                                                    Li-ion battery business

                                                         Large Li-ion battery market(xEV, ESS) gets very competitive
                                                    5
                                                         - Large Li-ion Battery: New business




                                                   Battery manufacturing
                                                   Technology
   Electrochemistry of Li-ion Battery
                                                   Materials, Equipment
                                                                                            Expecting to play a
                                                   Development                              pivotal role in a new
Anode Cathode                   Anode   Cathode
                   Charging                        Ability to Increase the Market           Large Li-ion Battery
                                                   Share
C6 + LiMO2 + e-                 LixC6 + Li1-xMO2                                                   market
                  Discharging                      A Strong Will on New
                                                   Business
3. New Business - Secondary Battery
 목차
  (3) HCC Battery Business                                                                                                                                      41


                                    Battery Material Business                                                  Battery Business

                                      Global Top 1 in 2020                                                   Global Top 10 in 2020
                                       Capa: 50,000 MT/Year                                                    Capa: 2.3 GWh/Year
                                                                                                                 (120,000 Vehicles/Year)
                                        Annual Sales: $1Bil.                                                  Annual Sales: $640 Mil.
                                    LFP (LiFePO4, Lithium Iron Phosphate)                       Key Elements Tech                      Cost Reduction
                                                                                            ▪ Owns technology of various        ▪ Reduce costs through vertical
          Critical Point




                                                            Supercritical                     Cathode & Anode Materials           integration from raw materials
Pressure → (221bar)




                                           Liquid              Water                          including separator and             to complete products by
                                                                                              Al pouch                            utilizing our specialized
                                                                                                                                  active materials

                                                                                              Efficient Development                  Battery Performance
                            Solid
                                                                                            ▪ Simplifies pack system with       ▪ Holds long cycle life with
                                              Gas                                             40Ah large capacity cell            consistent cell performance
                                                                                            ▪ Developed Ultra High              ▪ Reinforced safety by making
                                                                                              Efficiency cell with smaller        the most of LFP’s
                           Temperature →            Critical Point                            and lighter design                  characteristics
                                                       (374oC)
                                                                            SafEnPoTM LFP
                                                                                                                                        Renewable
                                                                                                       HEV
                                                                                                                                        Energy


                                                                     Nano-Sized             xEV        PHEV                     ESS      UPS

                                                                      Primary                                                            Power
                                                                      Particle                         BEV                               Plant
                            Cell                                                                                             500nm
                                                                                                                               * ESS: Energy Storage System
3. New Business - Nano Technology
  (1) Carbon Nano Tube(CNT) & Graphene                                                       42

CNT: Any Nanostructure, a member of the fullerene family, having graphene layers
        wrapped into perfect cylinder.
 Also aggressive investment in Graphene (monolayer of carbon atoms) with superior
 properties secures tomorrow’s business opportunities
       1985         1991            2004
      Fullerne      CNT           Graphene




                                                      High Optical
                                                      transparency
                                                                         High Surface area
                                                                           to mass ratio
                                                       High electrical
                                                        conductivity
                                                                            High Career
                                                                             mobility




                 Graphite layer
  3. New Business - Nano Technology
    (1) Carbon Nano Tube(CNT) Applications                                                     43


   EMI 차폐 개스킷                      Seat용 면상발열체        Touch      Automobile용         전지전극 재료
                    타이어용 Bladder                      Panel       경량화 소재




대전방지용 Wafer Carrier
                                                                               프린터용 실리콘 롤러

                                        ❖ High concentration CNT solution
                            Solution    ❖ Conductive CNT solution


                                        ❖ Conductive CNT composite
                           Composite
                                        ❖ PE, PP, PS, PC, Nylon, EVA,….



                               ~2015년                    2020년~
       Solar Cell            Military                                            Building
                                                          Airplane               Materials
3. New Business - Nano Technology
  (2) Nanoparticles                                                                                     44



     Needs of Nano-tech
      Present                                      Future
 • Top-down                Lighter           • Bottom up
 • Micro Scale tech.       Thinner           • Nano Scale tech.       MRI Contrast Agents
 • Fine processing tech.   Smaller           • Need to control to
                           Highly Integrated
 pushed to the limit                         Atom & Molecular level


Characteristics of Nanoparticles
 •Totally different property to bigger bulk particles
 (Optically, Magnetically, Chemically property changes)
                                                                      Commecial            HCC
                                                                       (Gd-based)    (Iron Oxide NPs)
                           Changed Color
 Transparency              (particle size)            Assembly
                                                                      Other Applications
                                                                      Hyperthermica
                                                                      Biosensor
Nano         Bulk                                                     Nano-composites
                                                                      Magnetic Storage
                                                                      Fuel Additivies
                                                                      Water Treatment etc.
3. New Business - Nano Technology
  (3) Hydrogen Storage Materials                                                                     45



 The exhaustion of fossil fuel
                                                   Needs for Hydrogen Energy
 Environmental regulations



                             Hydrogen Storage Materials

 Spaces needed to
 store 4 kg
 Hydrogen
 (45 m3 at R.T)
 which is equivalent
 to 24kg of gasoline
                                                                                    110L

                             26L           33L             57L


                          Me2FeH6        LaNi5H6         H2 (Liq)          H2 (Gas,
                                Solid Type                                 200bar)
                                                          Louis Schlapbach & Andreas Zuttel (2001)

           Hottest R&D Area
3. New Business - Nano Technology
 목차
  (4) HCC Nano Business                                                                                                     46


      Starting Stage (~2011)                 Growing Stage (~2014)                 Maturing Stage (2015~)

        •   Secured the basic technology           •   Commercialization                •   Be a top player in the global
            in Nano-Technology                     •   Secure key technologies              market
              - Carbon Nanotube (CNT)
              - Graphene                           •   Explore overseas market              - Market & Technology
              - Nanoparticles                                                                 Pioneer
              - Hydrogen Storage Material


              CNT & CNT Application Business                                                Other Business

     Took over the CNT manufacturer in 2008                           Graphene
       Hanwha Nanotech (HNT)                                           - Made equity Investment in XG Sciences,

     Developed new technology                                          USA (2010)
      for CNT & related applications                                   Nanoparticles
     Products                                                          - Received the exclusive license for
            Material                 Application                         mass-production from SNU (2007)
                                                                        - Developing the MRI contrast agents
                                                                       Hydrogen storage material
       MCNT/SWCNT      HANOS PET/PS/EPE/Bladder/Heating unit Etc.       - Collaborating with SNU& SKK


                               Global Leading Nanotechnology Company
       Vision
3. New Business – Bio Technology
 목 차 Technology Overview
 (1) Bio                                                                                     47

Biotechnology (Biotech) is a field of applied biology that involves the use of living
organisms and bioprocesses in engineering, technology, medicine and other fields
requiring bio-products
        Red Biotech                                  White Biotech

        Biotech applied to medical                    Biotech applied to industrial
        processes                                     processes

        Therapeutic Protein/Antibody                  Bio Mass-derived chemical products
        Vaccine                                      (Bio Ethanol, Bio Diesel, etc)
        Gene/Cell therapy              Biotechnology
        Artificial Organ                                    but,
        etc                                                 immature industry
                                                             platform
                                     Biotech applied to
                                     agricultural processes
                                     Bio Mass (GMO,etc)
                                      but, uncertainties in the risk
                               Green Biotech


             Red Biotech industry was expected to grow fast and sustainable
             based on highly developed platform technology and large investment
3. New Business – Bio Technology
 목차
 (2) HCC Bio Business                                                                                    48


             Vision                                               Rationale

                                                   Attractive market of antibody drugs with higher
                                                   efficacy, safety, clinical success rate, and bigger
                                                   market needs
        Global Leading
      Biotech Company in                           Biosimilar market size is expected to reach
             2020                                  ~$30Bil by 2020, and to continue to grow with
                                                   solid new biologic drug pipelines


Pipelines                                        R&D Center
                  Biosimilar; 4 items
                                                                      Located in Daejon
                   - HD203  clinical P III
                                                                      59 researchers (Ph.D.; 12)
                     ( 1st in Korea)
                                                                       - strengthening HR
                  NBE; 3 items


 Globalization                                   Manufacturing Facility
                  Global Business Model                              Under construction
                                                                        - located in Osong
                  Partnership with big pharma                          - completion in 2013
                   (e.g. Merck & Co.)                                 cGMP
Thank
you

				
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