HANKUK CARBON

<p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;"><img alt="" src="https://www.hcarbon.com/upload/ckeditor/f9c1ad92-0efa-4e48-890d-149f61548d29.png" style="width: 100%; height: 100%;" /></span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">On December 2, 2025, Hankuk Carbon, in collaboration with Nihon Shipyard, obtained Approval in Principle (AiP) from Nippon Kaiji Kyokai (NK) and Lloyd&rsquo;s Register (LR) for SPRAY FOAM INSULATION OF IMO TYPE B &ndash; TANK &ndash; LPG / LEG / LNG WITH AMMONIA READY CARGO &amp; FUEL TANKS</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">Approval in Principle is a pre-verification process that confirms whether a new technology complies with international regulations and classification society requirements, including structural integrity and design feasibility. This approval signifies that the technology has secured a solid technical foundation for practical application on commercial vessels.</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">This achievement represents meaningful recognition of Hankuk Carbon&rsquo;s insulation technology under the strict safety standards of the shipbuilding and offshore industry.</span></p> <p>&nbsp;</p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;"><span style="font-size:20px;"><b>Background: Fuel Tank Classification and Emerging Requirements</b></span></span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">Independent fuel storage tanks used in shipbuilding are classified as Type A, Type B, or Type C depending on the application of a secondary barrier and operating conditions. The appropriate tank type is selected based on fuel characteristics and vessel design objectives. Among these, Type B tanks are designed with high structural reliability and leak-tolerant concepts, and have traditionally employed either panel-type insulation systems or spray foam insulation systems.</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">As the adoption of fuels with higher toxicity and stricter safety requirements&mdash;such as ammonia continues to expand, the reliability of fuel containment structures and the overall integrity and stability of insulation systems have become increasingly critical factors in vessel design.</span></p> <p>&nbsp;</p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;"><span style="font-size:20px;"><b>Limitations of Conventional Insulation and Hankuk Carbon&rsquo;s Technical Solution</b></span></span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;"><img alt="" src="https://www.hcarbon.com/upload/ckeditor/30fae982-7907-4abe-aebd-520ad9c981c4.png" style="width: 100%; height: 100%;" /></span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">Most conventional insulation systems have been designed primarily for LNG applications. As a result, they reveal limitations when applied to ammonia fuel, particularly in terms of toxicity management, material compatibility, and long-term exposure stability. Panel-type insulation systems, in particular, have shown operational constraints, including heat loss at panel joints and reported cases of insulation performance degradation during long-term storage and installation.</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">To address these challenges, Hankuk Carbon&rsquo;s Type B Tank Spray Foam Insulation System forms a seamless insulation layer through on-site application, ensuring high airtightness and stable thermal performance in compliance with IMO requirements. The system eliminates the need for fixation welding, thereby reducing structural risks, and the skin layer formed during application helps minimize insulation aging over time.</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">This solution is an Ammonia-Ready insulation system, designed to enhance thermal performance and safety while reducing maintenance requirements. By addressing the limitations of LNG-based insulation systems, it demonstrates the evolution of insulation technology in response to changing fuel paradigms.</span><br /> &nbsp;</p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;"><b><span style="font-size:20px;">Hankuk Carbon&rsquo;s Technology Direction Toward a Sustainable Marine Industry</span> </b></span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;"><img alt="" src="https://www.hcarbon.com/upload/ckeditor/8d4255af-40aa-481e-a347-b4fbed05c734.png" style="width: 100%; height: 100%;" /></span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">This Approval in Principle serves as international validation of Hankuk Carbon&rsquo;s accumulated expertise in composite-based insulation technologies, at a time when the shipbuilding and marine industry is accelerating its transition toward eco-friendly fuels such as LNG and ammonia.</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">By applying a spray foam insulation system optimized for the structural characteristics of Type B tanks, Hankuk Carbon provides a technical solution that ensures stable performance even in cryogenic environments, while achieving both high insulation performance and installation efficiency.</span></p> <p>&nbsp;</p> <p><span style="font-family:Arial,Helvetica,sans-serif;">Moving beyond simple material supply, Hankuk Carbon continues to support the technological advancement of the shipbuilding and offshore industry through reliable insulation and structural solutions for extreme environments. The company remains committed to developing future-ready technologies for eco-friendly vessels and a sustainable marine industry, in close collaboration with global partners.</span><br /> &nbsp;</p> <p>&nbsp;</p>

<p><img alt="" src="https://www.hcarbon.com/upload/ckeditor/e042e410-488e-4f29-9a1d-e227a6055d80.jpg" style="width: 70%;" /></p> <p>&nbsp;</p> <p><meta name="uuid" content="uuid8SEIxqC2sVB0" /><meta charset="utf-8" /></p> <p>We are currently in an era of <strong>energy transition</strong>, where we are moving from using fossil fuels to environmentally friendly energy. The global shipbuilding market is working to reduce air pollution. Liquefied natural gas (LNG) is an energy source expected to aid in this transition towards carbon-free energy. In this episode of &quot;Composite Materials 101,&quot; we will explore the basics of eco-friendly fuel LNG and how composite materials contribute to its supply process.</p> <p>&nbsp;</p> <p>In London on July 2023, The International Maritime Organization (IMO), meeting at the Marine Environmental Protection Commission (MEPC 80), agreed to achieve Net Zero by significantly strengthening the goal of reducing ship carbon emissions and making net greenhouse gas emissions zero by 2050. Eco-friendly ships, such as LNG propellants, are measures to cope with these strengthened environmental regulations, and the demand for LNG continues to increase.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><span style="font-size:20px;"><strong>Liquefied Natural Gas: The Road to Carbon Neutrality</strong></span></p> <p>&nbsp;</p> <p><strong>Liquefied natural gas (LNG)</strong> refers to natural gas that has been cooled to liquid form at cryogenic temperature (-163&deg;C.)&nbsp;</p> <p>LNG is an eco-friendly fuel that generates fewer pollutants during combustion by removing impurities such as sulfur, carbon dioxide, and moisture during liquefaction. It is expected to help us gradually transition to carbon-free energy generation because it emits fewer greenhouse gases than fossil fuels such as coal. As the 10th Basic Plan of Long-Term Electricity Supply and Demand announced in early 2023, the Korean government is aiming to reduce coal power generation from 40.2 GW (gigawatt) to 27.1 GW by 2036 and increase LNG power generation from 43.5 GW to 62.9 GW. LNG is a transition fuel on the path to carbon neutrality, which we must achieve eventually.</p> <p>&nbsp;</p> <p>So, why does natural gas have to be liquefied? When natural gas is converted into LNG, it takes up only 1/600th of the original volume in its gaseous state, making it much easier to store and transport. More natural gas can be stored per area, allowing for both cost reduction and convenience. Liquefied Natural Gas is mainly transported and supplied through specially designed tank ships called LNG carriers, composed of insulation panels.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><meta name="uuid" content="uuid8SEIxqC2sVB0" /><meta charset="utf-8" /><span style="font-size:20px;"><strong>High-strength Insulation Composites to Prevent LNG Loss</strong></span></p> <p>&nbsp;</p> <p><img alt="" src="https://www.hcarbon.com/upload/ckeditor/ea6cbe2d-0823-40f4-8dce-14c4de6cea87.jpg" style="width: 70%;" /></p> <p>&nbsp;</p> <p><meta name="uuid" content="uuid8SEIxqC2sVB0" /><meta charset="utf-8" /></p> <p>In what part of the insulation panel do you think the composite material is applied? To understand the basics of LNG carriers and composite material, remember these key factors: &quot;insulation and high strength.&quot;</p> <p>&nbsp;</p> <p>Insulation materials play a crucial role in maintaining LNG&#39;s liquid state by preserving an ultra-low temperature environment of -163&deg;C.</p> <p>&nbsp;</p> <p>The materials must be strong enough to withstand the impact caused by LNG&#39;s weight and sloshing while maintaining ultra-low temperatures to minimize boil-off rate and LNG loss. This is where composites come into play. Glass fibers are added to the polyurethane foam to boost its strength and insulation properties. That&#39;s exactly how <strong>R-PUF </strong>is produced with excellent insulation properties and strength.&nbsp;</p> <p>&nbsp;</p> <p>In addition to R-PUF, the insulation panels include FSB and RSB, which are secondary barrier products. The secondary barrier prevents further LNG leakage when the primary barrier of the LNG tank is damaged. SBs are also composite materials made of fiber and aluminum foil.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p><span style="font-size:20px;"><strong>Hankuk Carbon&#39;s Unmatched LNG Insulation Technology</strong></span></p> <p>&nbsp;</p> <p>Hankuk Carbon&#39;s LNG Business Division provides materials and construction services for cargo hold insulation systems, which help maintain the temperature of liquefied gases like LNG, LPG, LEG, and others. Through our exceptional technology, we are actively developing and producing reinforced polyurethane foam (R-PUF) and insulation panels, the vital components of the LNG carrier. We also produce and construct pipe insulation panels.</p> <p>&nbsp;</p> <p>Hankuk Carbon has established a dominant position in the South Korean market by exclusively producing secondary barriers such as RSB and FSB. Our advanced technology has enabled us to achieve localization, giving us a competitive edge. We created a high-strength FSB with aramid fiber and obtained GTT certification in 2017.&nbsp;Compared to the existing glass fiber FSB, Hankuk Carbon&#39;s aramid FSB has been recognized for its improved performance, as its tensile strength has been increased by 50% at room temperature and by about 10% in an ultra-low temperature environment of -170&deg;C.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>LNG carriers are expecting a boom for many years to come. According to a 2024 market report from Shell, the world&#39;s largest LNG supplier, global LNG demand is expected to increase by 50% by 2040 compared to 2023. With the growing demand for LNG carriers, Hankuk Carbon&#39;s order backlog for LNG insulation is estimated to be about KRW 1.72 trillion in 2024.</p> <p>&nbsp;</p> <p>Hankuk Carbon will continue to grow based on stable demand and make constant efforts to develop LNG composite material technology to enhance industrial competitiveness. That concludes today&#39;s episode of &quot;Composite Materials 101.&quot; We will see you again in our next episode, where we will share another informative story about composite materials!</p> <p>&nbsp;</p>