KUMHO P&B CHEMICALS

COMPANY

VISION 2020

Becoming a Global Leading Chemical Group with a group-wide sales of KRW 20 trillion and at least 20 globally recognized top-notch products by 2020.

Sales(Trillion)
20

The Kumho Petrochemical Group consists of seven
enterprises in total, including Kumho Petrochemical,
KPB, Kumho Polychem, Kumho–Mitsui
Chemicals, Kumho Trading, Kumho T&L
(logistics),and Korea Energy
Power Plant.
World-class Products
20

As of 2014, the group owns nine brands that take
approximately 5% market share in individual
global markets and ranks 5th at least.
(EPDM, SBR, HBR, LBR, NBR, NB Latex,
KUMANOX 13, KUMANOX 5010L,
and FORM Latex)

Mission

For our
customers,
we produce the best solutions and maximize their synergy.
For our
shareholders,
we maximize returns on their investment through a selective focus strategy.
For our
employees,
we establish and maintain a virtuous cycle of growth at both the organizational and personal levels.
For humankind
and nature,
we realize the ideal of green chemicals that support the human–nature harmony.

Core Values

PASSION
Striving to become the best

We apply ourselves proactively and voluntarily to achieving our vision, with a sense of responsibility and passion. We continue to learn until we attain world-class expertise and technological prowess.
INNOVATION
For customer satisfaction

We remain open to new paths to success over and beyond conventional practices and formulas. We carry out innovative ideas and practices to create new values for customers.
COLLABORATION
Earning and maintaining trust

We establish and maintain personal and business trust among ourselves and with our customers with our respect for diversity and dedication to free communication and teamwork.
RESPONSIBILITY
Toward society and the company

We abide by our principles and always put environmental integrity, safety, and ethics as our first concerns.

AEO (Authorized Economic Operator)

An authorized economic operator (AEO) is a “party involved in the international movement of goods in whatever function that has been approved by or on behalf of a national customs administration as complying with the World Customs Organization (WCO) or equivalent supply chain security standards.” Authorized Economic Operators include companies and parties concerned that are related to logistics such as importers, exporters, transporters, transportation brokers, warehouses operators, and customer brokers. The AEO concept was established by the WCO and the international community to ensure the security and smooth movement of goods in response to the U.S. trade security measures, which were reinforced after the September 11 attacks.

The introduction of the AEO program enables customs administrations to reject existing practices that had granted selective benefits of customs clearance procedures, which are based on fragmentary standards by the distributor and instead, evaluate the sincerity all distributors based on integrated standards. Consequently, once recognized as excellent, the company can enjoy comprehensive benefits in customs processes, which range from customs clearance for import and export to tax payment.

Three Features of the Korea AEO System

1. The integrated operation of the Business Evaluation System and the Security0 Management System can avoid the overlapping evaluation of a company.

2. The internal control system of a company is autonomously strengthened to increase the degree of law compliance.

3. The ASC concept is more specified. The Korean AEO system is focused on giving benefits by connecting overseas export networks with domestic import networks. Once an AEO status is given to all relevant companies, such as overseas producers and transporters (exporters), international transportation brokers, domestic cargo handlers, warehouse operators, customs brokers, and importers, they can receive unprecedented benefits.

Responsible Care

Responsible Care (RC) is a global initiative with regard to the environment, safety and health, where most of the developed countries and multinational companies are involved. This is the most comprehensive and long-term program practiced by the chemical industry. RC is a concept that even covers the local residents’ safety and the employees’ health by complementing the existing ISO 1400 (Environment Management), which was mainly engaged in the environment. It is also a voluntary management movement where companies participate with responsibility, which is different from existing regulations-centered environmental policies.

Even though the chemical industry has played a pivotal role in all the industries, it has been recognized as a culprit in the current negative issues because of the emphasis on the risks of chemicals. In this context, the purpose of this initiative is for chemical companies to have more endeavors to ameliorate environmental safety, thus simultaneously recovering its reliability and improving its image.

After adopting RC in 1992, Korea established the Korea Responsible Care Council (www.krcc.or.kr) in December 1999 and became a member of the Responsible Care Leadership Group in September 2000. Factory 1 of Kumho P&B Chemicals has also been actively engaged in the RC initiative after signing a voluntary agreement.