The domestic paint market has experienced a steady downturn, declining from ₩4.37 trillion in 2019 to ₩3.58 trillion in 2023, marking an average annual decrease of 4.86%.
This stagnation stems from multiple compounded factors — a slowdown in housing demand, a surge in unsold housing units, rising construction and material costs, high interest rates, and growing project financing risks — all of which have weakened the construction sector and, in turn, suppressed demand in the paint industry.
However, amid these challenging conditions, one startup is pioneering a new blue ocean with a distinct technological edge in radon shielding. That company is Purom Co., Ltd., founded by Dr. Young-Chul Lee (48), Professor of Bio-Nano Science at Gachon University.
Purom is opening new horizons in the domestic and global architectural coatings markets with its specialized paints that provide complete radon shielding, waterproof performance, and semi-noncombustible properties. In this interview, we take a closer look at Purom’s differentiated competitiveness and CEO Lee’s insights as both a researcher and business leader.
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The domestic paint market has experienced a steady downturn, declining from ₩4.37 trillion in 2019 to ₩3.58 trillion in 2023, marking an average annual decrease of 4.86%.
This stagnation stems from multiple compounded factors — a slowdown in housing demand, a surge in unsold housing units, rising construction and material costs, high interest rates, and growing project financing risks — all of which have weakened the construction sector and, in turn, suppressed demand in the paint industry.
However, amid these challenging conditions, one startup is pioneering a new blue ocean with a distinct technological edge in radon shielding. That company is Purom Co., Ltd., founded by Dr. Young-Chul Lee (48), Professor of Bio-Nano Science at Gachon University.
Purom is opening new horizons in the domestic and global architectural coatings markets with its specialized paints that provide complete radon shielding, waterproof performance, and semi-noncombustible properties. In this interview, we take a closer look at Purom’s differentiated competitiveness and CEO Lee’s insights as both a researcher and business leader.
▶︎ Read the Full Article