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Hyundai Elevator partners to move into Chungju Industry Cluster
North Chungcheong Province signed partnership deals with two separate enterprises, Sinsong and Songam Steel on Nov 13. Sinsong, a partner supplying elevator platforms to Hyundai Elevator Co., Ltd, agreed to invest KRW 1.7 billion in establishing a new production facility on a 1,983㎡ site near East Chungju Industrial Complex by the year 2022, adding nearly 30 new jobs. The other counterpart, Songam, also unveiled its KRW 7 billion investment plan to set up a new manufacturing facility in the 3rd Chungju Industry Cluster and hire 42 new employees to work with until September next year.
Korea’s largest elevator manufacturer, Hyundai Elevator, has launched ground breaking work last July to build a new assembly line near Chungju city, where its new headquarters are set to move into until 2022. Hyundai’s business relocation appears to spur its partners and subcontractors on to move and form a geographic concentration of businesses in the city.
City mayor said “We’ll spare no effort to give administrative support for mutual development with these investors.”
pjk@yna.co.kr
** This article was translated from Korean.
Date
2020.11.20
Views
344
According to Yonhap News,
North Chungcheong Province signed partnership deals with two separate enterprises, Sinsong and Songam Steel on Nov 13. Sinsong, a partner supplying elevator platforms to Hyundai Elevator Co., Ltd, agreed to invest KRW 1.7 billion in establishing a new production facility on a 1,983㎡ site near East Chungju Industrial Complex by the year 2022, adding nearly 30 new jobs. The other counterpart, Songam, also unveiled its KRW 7 billion investment plan to set up a new manufacturing facility in the 3rd Chungju Industry Cluster and hire 42 new employees to work with until September next year.
Korea’s largest elevator manufacturer, Hyundai Elevator, has launched ground breaking work last July to build a new assembly line near Chungju city, where its new headquarters are set to move into until 2022. Hyundai’s business relocation appears to spur its partners and subcontractors on to move and form a geographic concentration of businesses in the city.
City mayor said “We’ll spare no effort to give administrative support for mutual development with these investors.”
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pjk@yna.co.kr
Source: Yonhap News (Nov 13, 2020)
** This article was translated from Korean.