BASF Korea receives Export Tower Award

• Recognizes companies’ contribution to trade, export expansion, overseas market development, technological development and quality assurance
• BASF executives awarded citations for contribution to economic development

Seoul, Korea — December 5, 2016 — With an export volume of USD 700 million in 2015, BASF Korea has won the Export Tower Award. The award was granted today on the occasion of the 53rd Annual Trade Day, recognizing BASF’s contribution to the national economy.

BASF’s major exports from Korea included MDI and TDI, raw materials used to produce polyurethane products, as well as vitamins B2, used for human and animal nutrition. These products were produced at BASF’s plants in Yeosu and Gunsan, and exported to various countries including China, Japan, South East Asia, Europe, the Middle East, Africa, and South America.

On the same occasion, the 2016 “Men of Merit” award was also presented to individuals for their outstanding efforts in promoting export growth and economic development.  

WeolKyu Cheong, site manager in Gunsan, was honored with a Presidential Citation for his contribution to the development of microbial strains and fermentation processing for amino acid production. He was also credited with developing sales and profits at BASF’s vitamin B2 plant in Gunsan, Korea.

Cheol-oh Cheong, Head of Isocyanate & Polyamide business, won a citation from the Minister of Trade, Industry and Energy (MOTIE) for expanding exports of Ulsan-made PolyTHF materials. He also boosted the sales of MDI and TDI during his tenure in Korea.

The Annual Trade Day is organized by the Ministry of Industry, Commerce and Energy and the Korea International Trade Association (KITA). 

 

About BASF in Korea
BASF has been a committed partner to Korea since 1954. As a leading foreign investor in the Korean chemical industry, BASF operates seven world-scale production sites in Korea. BASF maintains an R&D center in Suwon and four technical development centers in Korea. The Asia Pacific headquarters of BASF’s Electronic Materials business is located in Seoul. BASF posted sales to customers in Korea of approximately €1.1 billion in 2015, and employed 1,108 employees in Korea as at December 31, 2015. For further information please visit: www.basf.com/kr.

About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.