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According to Yonhap News,
On February 27, Jechon-si, Chungbuk-do announced that it has sigend an investment agreement with Iljin Global, an auto part producer, on establishment of its 5th factory.
According to the agreement, Iljin Glboal plans to invest KRRW 150 billion to build a 9,000㎡ factory on a 60,000㎡ site in Jecheon 4th Industrial Complex, scheduled to be created by 2027.
The new plant is planned to be completed by 2028, hiring 300 new employees.
The company accounts for 32% of the global wheel bearing market, and the first company in Jecheon to achieve KRW 1 trillion in sales.
The company's CEO said, "we decided additional investment based on the great accessibility of the 4th Industrial Complex, which is close to Central Expressway's Jecheon IC," adding that "we will continue to grow together with Jechon-si."
With the agreement in place, Jecheon-si is to go ahead with pre-sale of the 4th Industrial Complex, which will be built on a 817,864㎡ site in Sindong and Jangpyeong-ri, Bongyang-eup.
jusang@yna.co.kr
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Source: Yonhap News (February 27, 2024)
** This article was translated from Korean.