S. Korea to become world's 3rd largest polysilicon maker

SEOUL, July 5 (Yonhap) -- South Korea is expected to rank third worldwide this year in terms of polysilicon production as local companies have been scurrying to expand their production lines, a report said Tuesday. According to the report by Solar & Energy, a South Korean market survey and consulting firm, local companies are projected to produce a total of 37,595 tons of polysilicon this year, accounting for around 18 percent of global output. Polysilicon is used in solar panels and solar cells. China is expected to maintain its status as the world's leading polysilicon manufacturer this year with 63,067 tons, followed by the United States with 40,466 tons, the report showed. Last year, South Korea was the world's fourth-largest polysilicon producer with 18,723 tons, after China, the U.S. and Germany. South Korea's leading polysilicon manufacturer OCI Co. has been aggressively expanding its facilities, and other latecomers such as Woongjin Polysilicon Co. began mass production this year, the report said Earlier this year, OCI said it will spend 1.8 trillion won (US$1.7 billion) on building a new plant in the country and set a goal of having an annual production capacity of 86,000 tons of polysilicon by 2013. Currently OCI produces some 35,000 tons of the material a year.