Dongsung Finetec, The Republic of Korea - Komachine Supplier Profile and Product List

- Dongsung Finetec, established in 1959, is a global energy solutions company specializing in polyurethane material technology, providing ultra-low temperature insulation materials and polyurethane systems. The company holds approximately 60% of the global market share in ultra-low temperature insulation materials for LNG carriers and onshore LNG plants, playing a crucial role in the era of eco-friendly energy transition. Additionally, it is expanding its eco-friendly portfolio by supplying refrigerants and fire protection systems, and engaging in waste refrigerant recovery and recycling businesses.Dongsung Finetec, established in 1959, is a global energy solutions company specializing in polyurethane material technology, providing ultra-low temperature insulation materials and polyurethane systems. The company holds approximately 60% of the global market share in ultra-low temperature insulation materials for LNG carriers and onshore LNG plants, playing a crucial role in the era of eco-friendly energy transition. Additionally, it is expanding its eco-friendly portfolio by supplying refrigerants and fire protection systems, and engaging in waste refrigerant recovery and recycling businesses.
- LNG Containment System: Ultra-low temperature insulation materials essential for LNG carriers and propulsion ships, maintaining an extreme cryogenic environment below -163 degrees Celsius. Capability to produce insulation panels applicable to both GTT's Mark III and NO96 membrane-type cargo containment systems. Holds the world's lowest Boil-off Rate (BOR) technology, achieving 0.085% GTT certification for the first time globally.LNG Containment System: Ultra-low temperature insulation materials essential for LNG carriers and propulsion ships, maintaining an extreme cryogenic environment below -163 degrees Celsius. Capability to produce insulation panels applicable to both GTT's Mark III and NO96 membrane-type cargo containment systems. Holds the world's lowest Boil-off Rate (BOR) technology, achieving 0.085% GTT certification for the first time globally.
- Pipe & Tank Insulation: Ultra-low temperature insulation technology for pipelines and storage tanks in LNG regasification terminals. Securing next-generation energy technology through its selection as a leading company for a national project to develop cryogenic insulation materials for liquid hydrogen storage containers.Pipe & Tank Insulation: Ultra-low temperature insulation technology for pipelines and storage tanks in LNG regasification terminals. Securing next-generation energy technology through its selection as a leading company for a national project to develop cryogenic insulation materials for liquid hydrogen storage containers.
- Polyurethane System: Technology for synthesizing and processing polyurethane resins into foam or non-foam forms using raw materials from petrochemical companies, producing intermediate materials for footwear, automobiles, and refrigerators. Production of high-performance Polyurethane and Polyol products with wide applications in insulation for home appliances, industrial uses, and construction.Polyurethane System: Technology for synthesizing and processing polyurethane resins into foam or non-foam forms using raw materials from petrochemical companies, producing intermediate materials for footwear, automobiles, and refrigerators. Production of high-performance Polyurethane and Polyol products with wide applications in insulation for home appliances, industrial uses, and construction.
- Refrigerants: Import, subdivision, and sales of HCFC, HFC, and HFO series fluorinated refrigerants. Strengthening eco-friendly new businesses by establishing facilities for waste refrigerant recovery and recycled refrigerant production, responding to the circular refrigerant market.Refrigerants: Import, subdivision, and sales of HCFC, HFC, and HFO series fluorinated refrigerants. Strengthening eco-friendly new businesses by establishing facilities for waste refrigerant recovery and recycled refrigerant production, responding to the circular refrigerant market.
- Fire Protection: Supply of fire protection system products, including clean agent fire suppression systems, gas-based fire extinguishers, and automatic gas fire suppression devices.Fire Protection: Supply of fire protection system products, including clean agent fire suppression systems, gas-based fire extinguishers, and automatic gas fire suppression devices.
- Leading Global Market Position: A specialized ultra-low temperature insulation company with approximately 60% of the global market share in LNG insulation materials. Possesses the technology to produce all types of insulation materials adopted by Korea's top three shipbuilders, maintaining high competitiveness in the domestic and international LNG vessel construction market.Leading Global Market Position: A specialized ultra-low temperature insulation company with approximately 60% of the global market share in LNG insulation materials. Possesses the technology to produce all types of insulation materials adopted by Korea's top three shipbuilders, maintaining high competitiveness in the domestic and international LNG vessel construction market.
- Unique Technology and Integrated Production System: The world's only company with an integrated ultra-low temperature insulation production system, capable of supplying everything from Reinforced Polyurethane Foam (R-PUF) to insulation panels and membrane sheets. Possesses proprietary technology that achieved the world's lowest LNG Boil-off Rate (BOR) of 0.085%, officially certified by GTT.Unique Technology and Integrated Production System: The world's only company with an integrated ultra-low temperature insulation production system, capable of supplying everything from Reinforced Polyurethane Foam (R-PUF) to insulation panels and membrane sheets. Possesses proprietary technology that achieved the world's lowest LNG Boil-off Rate (BOR) of 0.085%, officially certified by GTT.
- Response to Eco-friendly Energy Transition and New Business Expansion: Expanding business areas to include insulation for LNG-fueled ships' fuel tanks and onshore LNG plants in response to strengthened IMO environmental regulations. Securing long-term growth drivers by participating in the development of liquid hydrogen storage and transportation systems, and cargo containment systems and insulation materials for liquid CO2 carriers, critical for Carbon Capture, Utilization, and Storage (CCUS) technology.Response to Eco-friendly Energy Transition and New Business Expansion: Expanding business areas to include insulation for LNG-fueled ships' fuel tanks and onshore LNG plants in response to strengthened IMO environmental regulations. Securing long-term growth drivers by participating in the development of liquid hydrogen storage and transportation systems, and cargo containment systems and insulation materials for liquid CO2 carriers, critical for Carbon Capture, Utilization, and Storage (CCUS) technology.
- Stable Order Backlog and Production Capacity: Secured an order backlog of over 2.4 trillion KRW as of 2023, representing approximately four years of work. Actively responding to expanding demand by increasing ultra-low temperature insulation production capacity from 30 to 34 vessels in 2024.Stable Order Backlog and Production Capacity: Secured an order backlog of over 2.4 trillion KRW as of 2023, representing approximately four years of work. Actively responding to expanding demand by increasing ultra-low temperature insulation production capacity from 30 to 34 vessels in 2024.
- Vertically Integrated Product Line and Cost Competitiveness: A vertically integrated product line that self-produces key raw material polyurethane foam (PU Foam) and processes it into insulation panels. Improved cost structure and profitability through stabilization of key raw material prices and reduction of semi-finished product line defect rates.Vertically Integrated Product Line and Cost Competitiveness: A vertically integrated product line that self-produces key raw material polyurethane foam (PU Foam) and processes it into insulation panels. Improved cost structure and profitability through stabilization of key raw material prices and reduction of semi-finished product line defect rates.
- Shipbuilding and Marine Industry (LNG carriers, LPG carriers, LNG-fueled ships, Very Large Ethane Carriers)Shipbuilding and Marine Industry (LNG carriers, LPG carriers, LNG-fueled ships, Very Large Ethane Carriers)
- Energy Industry (LNG regasification terminals, onshore LNG plants, liquid hydrogen storage and transportation, liquid CO2 transportation)Energy Industry (LNG regasification terminals, onshore LNG plants, liquid hydrogen storage and transportation, liquid CO2 transportation)
- Chemical Industry (supply of polyurethane system raw materials and intermediates)Chemical Industry (supply of polyurethane system raw materials and intermediates)
- Construction Industry (insulation materials for buildings)Construction Industry (insulation materials for buildings)
- Home Appliance Industry (insulation materials for refrigerators and other appliances)Home Appliance Industry (insulation materials for refrigerators and other appliances)
- Automotive Industry (automotive intermediate materials, liquid hydrogen storage containers for commercial hydrogen vehicles)Automotive Industry (automotive intermediate materials, liquid hydrogen storage containers for commercial hydrogen vehicles)
- South Korea, China, Qatar, Asia Pacific RegionSouth Korea, China, Qatar, Asia Pacific Region
- Russia, France (GTT technology license), Italy (Saipem)Russia, France (GTT technology license), Italy (Saipem)
- USAUSA
- World's first BOR 0.085% GTT certification (2015)World's first BOR 0.085% GTT certification (2015)
- UL certification standards passed (Flame-retardant polyurethane foam)UL certification standards passed (Flame-retardant polyurethane foam)
- Lloyd's Register certification (GTT NEXT1 technology, UK)Lloyd's Register certification (GTT NEXT1 technology, UK)
- Selected as lead company for national project on cryogenic insulation material development for liquid hydrogen storage containers (2021)Selected as lead company for national project on cryogenic insulation material development for liquid hydrogen storage containers (2021)
- Reinforced Polyurethane Foam (R-PUF) development and production technologyReinforced Polyurethane Foam (R-PUF) development and production technology
- Integrated ultra-low temperature insulation production system technologyIntegrated ultra-low temperature insulation production system technology