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Travels with Larry Archive

Moorim Paper to invest $43.7 million to Change its Product Line

Moorim Paper, Seoul, South Korea, reports that it has decided to invest KRW 50 billion ($43.7 million) to change its main product from printing paper to higher value-added industrial paper. The company said it anticipates that operating profits will increase about 10% after the change, which will be made next year.

For this plan, Moorim Paper began consulting last year with Poyry, a Finland-based international consulting group specialized in the paper industry, and has now decided to make the change and invest in the equipment. Moorim Paper's new products will mostly be aimed at the global market rather than the domestic market.