Kolon Industries

Last updated
Kolon Industries Inc.
Native name
코오롱인더스트리
Company type Public company
IndustryIndustrial materials
  • Film/Electronic materials
  • Chemicals
  • Fashion
FoundedApril 12, 1957;66 years ago (1957-04-12)
Daegu, South Korea
Headquarters
Daegu   OOjs UI icon edit-ltr-progressive.svg
Revenue3,905,572,000,000 Won [1]  (2014)
Total assets 3,537,038,000,000 Won [1]  (2014)
Website English website

Kolon Industries is a Korean chemical and textile manufacturing company. It was founded in 1957 as Korea Nylon Inc., an early manufacturer in the Korean nylon industry. [2] It has since expanded to produce chemicals, other materials and fashion. [3] In 2015 Kolon Industries opened a shopping mall built with shipping containers, the first of its kind in South Korea. [4] It has a US subsidiary, Kolon USA Inc., selling polyester film and nylon film. [5]

Contents

Controversies

Kolon Industries was the defendant in the lawsuit DuPont v. Kolon Industries, about the alleged theft of trade secrets concerning Kevlar. The lawsuit was settled in 2015, with damages of US$275 million being paid to DuPont. The company also pleaded guilty to a federal charge of conspiracy to convert trade secrets, for which they will pay $85 million in criminal fines. [6] [7]

See also

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<i>DuPont v. Kolon Industries</i> Intellectual property lawsuit

DuPont v. Kolon Industries is an intellectual property lawsuit centering on the allegation that Kolon Industries, a South Korea-based company, stole trade secrets concerning the production and marketing of Kevlar from DuPont, an American chemical company. Kevlar is a high strength synthetic fiber used in applications as diverse as bicycle tires and body armor. On September 14, 2011, a jury found in favour of DuPont and awarded damages of $919.9 million. A 2015 settlement reduced the damages to $275 million.

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References

  1. 1 2 "Financial information". Kolon Industries. Retrieved 23 July 2015.
  2. "History". Kolon Industries. Retrieved 23 July 2015.
  3. "About us". Kolon Industries. Retrieved 23 July 2015.
  4. "Shipping Container Mall - Kolon Industries FnC Opens Complex Shopping Mall "Common Ground"". BusinessKorea. April 9, 2015. Retrieved 23 July 2015.
  5. "Welcome to KOLON USA Inc. (KUSA)". Kolon Industries. Archived from the original on 16 February 2015. Retrieved 23 July 2015.
  6. "Kolon Industries Inc. Pleads Guilty for Conspiring to Steal DuPont Trade Secrets Involving Kevlar Technology". FBI. April 30, 2015. Retrieved 23 July 2015.
  7. "Infringement - Kolon Pleads Guilty to Stealing DuPont's Kevlar Tech". BusinessKorea. May 4, 2015. Retrieved 23 July 2015.