Korea’s steel and auto parts maker KS Group is taking another big leap as a leading player in the nation’s wallpaper industry with its planned merger with local rivals.
The group started its wallpaper business in 2019 when it acquired a local wallpaper firm, which was then renamed KSWallcoverings. Then, it acquired another wallpaper company, called Jeil Wallpaper, in 2020.
Now the two companies are operated under the group’s wallpaper business unit, KSW. The group also purchased another wallpaper company, Cosmos Wallpaper, in 2022 and the merger deal is expected to be completed this year.
The group said the three wallpaper brands will be operated separately even after the merger, in order to maintain their own brand identity and meet different consumer demands.
“We are confident that we will stand at the top of the wallpaper industry next year,” KS Group President Park Sik-sun said.
“Even though the global economy is undergoing difficult situations, we will overcome it by developing creative designs and competitive products that are one step ahead of other competitors,” Park added.
Each of the three wallpaper companies has been steadily launching new products on the market.
Recently, Jeil Wallpaper introduced the new Edition collection, targeting both the domestic and overseas markets.
Jeil Wallpaper said that it decided to take the initiative to launch the collection in South Korea in order to bring design freshness to the stagnant domestic market. The collection was originally aimed at overseas markets, the company added.
KSWallcoverings and Cosmos Wallpaper also released new specialty products Decorior and Harmony, respectively. Both are specialized wallpaper products developed with a focus on the functionality of wallpaper and a detailed sense of color, targeting construction companies.
In particular, Cosmos Wallpaper's Harmony features an absorption function that helps to purify the air by absorbing formaldehyde -- believed to be the cause of "sick building syndrome" and atopic dermatitis -- in newly constructed houses, reflecting the safety and health needs of consumers.