Korean airless manufacturer Yonwoo has made an US$8 m investment to expand its production capability in anticipation of increased demand.
With 28% average yearly growth rates over the past decade, Yonwoo relies on R&D and aggressive investment to cope with rises in demand. Its current forecasts triggered the construction of two new buildings housing automated production lines with eighteen high-speed injection-moulding machines.
Today, Yonwoo the leading airless manufacturer in Korea, if not worldwide. The Korean Ministry of Knowledge Economy has consequently selected Yonwoo as one of the 300 companies that are considered number one in their industry, including on foreign markets. Yonwoo was the only member of the packaging category to be selected. This award is a bit more than honorific since the company will now enjoy government support in terms of finance, human resources and publicity.
“One of the competencies the government evaluated was sales and marketing power. They saw our international sales network – this is one of the great advantages we have – and this contributed greatly towards our selection. All of us are now congratulating ourselves on having Quadpack as our partner,” explained Daniel Cha, Yonwoo export sales manager.