Related Article) “I Want to Give Back with Technology for the Love We Have Received” – Park Wan-soo, CEO of Technofinechem – Handmaker
A Chemical Materials Company Supporting Industries Through Invisible Technology
The chemical materials industry may not be highly visible, but it forms the foundation of a wide range of industries, including electronics, pharmaceuticals, and energy. In particular, precise and stable chemical materials play an important role in determining the pace of technological innovation and the quality of finished products.
Technofinechem is a company that has continued its technology-driven business in the chemical materials field for more than 20 years. CEO Park Wan-soo leads both Technofinechem and its manufacturing affiliate, TFC, handling a wide range of chemical materials, including blended blowing agents, ABS+PC flame retardants, electronic material intermediates, HF catalysts, pharmaceutical intermediates, and carbon dioxide capture agents.
Technofinechem is responsible for distribution, while TFC is responsible for manufacturing, with the functions of each company clearly separated. TFC established a manufacturing plant in Eumseong, Chungcheongbuk-do, building its production base.
A Business Founded as a Choice for Survival
The history of Technofinechem dates back to 2003.
CEO Park Wan-soo points to an M&A involving Company K, where he worked when he was young, as the turning point that led him to start his own business. After the company was acquired by a corporate raider, its business direction shifted from the chemical materials sector to gaming and robotics. As key personnel were pushed into less important positions, he faced the need to support his family and eventually left the company to start a business of his own.
At the time, starting a business was less about simply taking on a new challenge and more of an urgent decision involving his livelihood and pride.
The company name ‘Technofinechem’ embodies this founding spirit and technology-oriented management philosophy. It conveys the meaning of ‘Technology Development Fine Chemical’ and represents the company’s commitment to contributing to the advancement of science and technology while preserving the fundamental value of research and development.
Handling Around 500 Chemical Products
Technofinechem has supplied a wide range of chemical products in Korea that are difficult to handle in research and development environments and laboratories.
Its major products include PE catalysts (HF-based), as well as materials related to benzofuran, triazole, and bromination reactions. The company handles approximately 500 products, including BDP, MTMS, TCP, TMS, and LiCl.
In the process of distributing and manufacturing a wide range of chemical products, there are many tasks that cannot be judged solely by profitability. CEO Park Wan-soo explains that without a sense of mission and purpose to contribute to technological development, it would be difficult to continue undertaking work that is not directly related to immediate profits.
He also spoke about the practical challenges that arise from differences between the perspectives of employees and management in running a company. As a CEO, he said that he feels sorry for employees whenever circumstances require them to make sacrifices for the growth of the company.
The 20th Anniversary and a New Stage of Growth
The year 2024 held special significance for Technofinechem, as it marked both the 20th anniversary of Technofinechem and the 10th anniversary of TFC.
If the past 20 years were a period of building the company’s foundation and capabilities, CEO Park Wan-soo sees the coming years as a time to achieve faster growth based on the experience and capabilities accumulated so far. In particular, he expects the company to be able to further accelerate the growth achieved over the past 20 years within the next five years.
AxiFOM, a New Brand in the Blowing Agent Field
Technofinechem planned to begin pursuing overseas market expansion in earnest from 2025.
Following its participation in an exhibition in Turkey in 2024, the company planned to participate in an exhibition in the United States in 2025. At the same time, it introduced its new blowing agent brand, ‘AxiFOM.’
AxiFOM is a name combining ‘Axioma’ and ‘Form.’ It includes injection-molding blowing agents such as Insol, Midsol, and Outsol, and the trademark application had also been completed at the time.
CEO Park Wan-soo believes that securing competitiveness in advanced materials is not an option but a survival strategy in the low-growth era facing the domestic market. Just as a tennis player must objectively assess their own skills and physical condition before competing, companies must accurately understand their circumstances and establish strategies accordingly.
Through AxiFOM, the company aims to gain recognition for its technology-based competitiveness in the blowing agent field.
Challenging a New Market Through Carbon Dioxide Capture Technology
Another notable aspect of Technofinechem’s business expansion is its work in the field of carbon dioxide capture agents.
In 2024, the company received the patent rights for the carbon dioxide capture agent ‘COSOL-6’ from Korea Electric Power Corporation (KEPCO), which CEO Park Wan-soo considers an important achievement.
Going forward, the company plans to enter the marine carbon dioxide absorbent industry using this technology and, based on this foundation, grow into a global technology company.
Along with the company’s continued growth, becoming a company that gives back to society and its customers through technology is another goal emphasized by CEO Park Wan-soo. Like the circular meaning symbolized by the company’s logo, the company aims to continue growing as a sustainable business.
After building its business foundation in the chemical materials sector for more than 20 years, Technofinechem is now challenging new markets based on its AxiFOM blowing agent brand and carbon dioxide capture technology.
As CEO Park Wan-soo said, “I want to give back with technology for the love we have received,” connecting the technology and experience accumulated over the years to new materials and markets will be an important task for the company moving forward.
Source: Handmaker, April 11, 2025, “I Want to Give Back with Technology for the Love We Have Received – Park Wan-soo, CEO of Technofinechem”
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