DAEGU < invest Korea

According to Yonhap News,

(DAEGU=Yonhap News) The city of Daegu is scheduled to sign investment agreements with two future vehicle parts makers this month, Central Motek on the 23rd, and Emsco on the 25th.

Central Motek has agreed to invest KRW 100 billion in building a 30,000-square-meter factory to manufacture a newly-developed ball screws for automotive gear shifts.

Founded in 1994, the company is a core subsidiary of driving gear maker Central Group. It has a workforce of 145, and posted KRW 251.2 billion in revenue last year.

Central Motek will produce auto parts for Germany-based Schaeffler, serving as a driving force for Daegu's efforts to evolve into a global hub for future vehicles.

Emsco is a small but strong maker of auto parts, pump parts and valves, that took in KRW 33 billion last year in revenue.

Brake valves being their main product, the company is expected to create synergy with electric truck makers in the area such as Renault Motors and Dae-il Corporation (DIC).

Based on the agreement, Emsco will invest about KRW 17 billion to build a factory spanning 11,000 square meters of land by next year.

yij@yna.co.kr

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