Kimberly-Clark to Establish Advanced R&D Center in South Korea

Strategic Insights -

Kimberly-Clark, a U.S.-based household and personal care products maker, plans to establish an advanced research and development (R&D) center in South Korea. The new facility, set to be built at the Yuhan-Kimberly Ltd. plant in Giheung, will share the research workload previously conducted exclusively in the United States. The move is expected to bolster the local bio science and personal care industry, creating new jobs for South Korean researchers and engineers. The South Korean government will inject 1.55 billion won ($1.62 million) into the project to help hire skilled workers.

Key Takeaways:

  • Kimberly-Clark plans to establish an advanced R&D center in South Korea, leveraging its existing partnership with Yuhan-Kimberly Ltd.
  • The new facility will share the research workload previously conducted exclusively in the United States, focusing on next-generation core technologies, including bio and material science fields.
  • The company has invested $315 million in R&D last year and has a 70% stake in Yuhan-Kimberly, established in 1970.
  • The South Korean government will inject 1.55 billion won ($1.62 million) into the project, which is expected to create new jobs for South Korean researchers and engineers.
  • The new center may also spur growth in the country's biotech sector.
  • Kimberly-Clark's investment in South Korea amounts to $77 million so far.
  • The South Korean government has also attracted 13 other companies, including Texas Instruments, Advanced Micro Devices, and Battelle Memorial Institute, to set up R&D and other facilities in the country, with a total investment of 5.8 billion won.

Statistics:

  • $315 million: Amount invested in R&D by Kimberly-Clark last year.
  • 70%: Kimberly-Clark's stake in Yuhan-Kimberly, established in 1970.
  • $77 million: Total investment by Kimberly-Clark in South Korea so far.
  • 1.55 billion won ($1.62 million): Amount injected by the South Korean government into the project.
  • 5.8 billion won: Total amount invested by 13 companies, including Texas Instruments, Advanced Micro Devices, and Battelle Memorial Institute, in South Korea.
  • 13: Number of companies attracted to South Korea by the government's investment initiatives.

Sources:

  • Kim, J. (2023, September 20). Kimberly-Clark to Set Up Advanced R&D Center in South Korea. Asia Pulse.
  • Ministry of Commerce, Industry and Energy, South Korea.