Huvis (CEO Shin, You Dong), specializing in chemical and fiber materials, was selected for Phase III of the Innovator in Materials, Parts, and Equipment Program by the Ministry of Trade, Industry and Energy (“MOTIE”), the company announced on the 23rd of this month.

The purpose of this program is to discover domestic companies that have the best capabilities and potential for growth in 150 key strategic technology areas across seven major industries and to foster them as companies with global competitiveness. The program has selected around 20 businesses every year since 2020, and this year, it selected a total of 23 businesses from seven industries, including automobiles, semiconductors, displays, and steel.
 
Huvis was selected for the program this year with its technology for manufacturing high heat resistant, flame retardant, extreme-performance, organic meta-aramids, which are one of the key strategic technologies in the automotive industry. Automotive components, such as motors, batteries, and generators, require packing with insulators to prevent fires, but currently the entire volume of insulators used in South Korea are imported.

In particular, in the case of electric vehicles (EVs), the number of which has been growing rapidly in recent years, it is possible to delay thermal runaway in batteries and secure the time for occupants to escape from their vehicle in case of a fire by applying meta-aramid insulators that have excellent heat resistance and flame retardancy.
 
Huvis succeeded in commercializing a meta-aramid, one of the super fibers, in 2009, and again later with the domestic production of materials for fireproof clothing in 2016. The company also succeeded in developing paper-based insulators, which require more advanced technology compared to fiber, thereby achieving top, global level performance and acquiring certifications. Although the company's technology has reached the same level as that of the industry leader DuPont, Huvis still needs new investments for economies of scale, with the company explaining that it will be able to accelerate the commercialization of the product as it was selected as the Innovator.
 
Companies that are selected as the Innovator in Materials, Parts, and Equipment receive intensive support for five years through collaborations between the business, competent authorities, and MOTIE in connection with various programs related to finance, investment, taxation, public infrastructure, and regulation. They can also use testing equipment at national and public research institutes for free and receive R&D grants, which in turn bring opportunities to help these companies upgrade their technology in the global market.
 
“It is meaningful that we have been selected as the Innovator and given opportunities to produce materials for EV insulators domestically, which have previously been fully dependent on imports,” said Shin You-dong, president of Huvis. “In addition to EVs, our meta-aramid can be applied to many other industries, such as electricity, electronics, energy, environment, and aerospace, through which we plan to enter the global market beyond the domestic market and become the global No.2 by 2028.”
 
Huvis is capable of producing 1,000 tons of meta-aramid a year, including 200 tons of insulator materials. To meet the rapidly growing demand, the company will increase its yield up to 1,000 tons through gradual extension from 2024. (The End)
 

[Photo 1]
Insulators made of Huvis meta-aramid.


[Photo 2] 
The Ministry of Trade, Industry and Energy held the ceremony for Phase III Innovator in Materials, Parts, and Equipment 2023 at the Press Center on March 22, 2023. Huvis President Shin You-dong (right) and the MOTIE Vice-Minister Jang Young-jin after the event.