Taekwang Industrial to invest W150b in modacrylic production scale-up

Taekwang Industrial said Thursday it will invest 150 billion won ($106 million) to scale up production lines at its modacrylic factory.

The investment represents 3.78 percent of the company's equity capital, and the project is set to run through May 31, 2028.

The company said the expansion aims to secure mid- to long-term growth drivers through increased modacrylic capacity and to diversify the applications of its fiber business.