Woongjin Chemical Co., Ltd. is a Korea-based company engaged in the production and supply of polyester fibers and related products. Its products consist of polyester filaments, such as functional yarns, stretch yarns, micro yarns, wool like yarns, rayon like yarns and others; polyester staple fibers, such as specialized fibers, nonwoven fibers, hygiene fibers, spinning fibers and regular fibers; chips, such as polyethylene terephthalate (PET), flame retardants and others; textiles under the brand names of eslontex, evica and others; and chemical sheets, such as PET sheets, among others. On December 1, 2012, it divested its textile business into a newly established wholly owned subsidiary, Woongjin Textile Co., Ltd. On January 2, 2013, Woongjin Holdings acquired a 46.30% stake in the Company from COWAY CO.,LTD. After the transaction, Woongjin Holdings Co Ltd and 11 other investors became the largest shareholder of the Company, replacing COWAY CO.,LTD. and 12 other investors.