DAEGU < invest Korea

According to Yonhap News,

Daehong, a plastic auto-components maker, signed an MOU with Daegu city on Feb 17. Investing nearly KRW 28.9 billion, the auto parts producer is set to move part of its business into Daegu city’s industry cluster by the end of 2024, adding 120 new jobs. Running its second assembly lines in Gyeongju city, they’ll move and build out the first manufacturing facility and the head office on a 13,237㎡ site.

The construction project comes to an end next month and the new factory starts operation in June.

The CEO said “We’ve, in deed, decided to move to Gyeonggi Province at first which we thought was the best possible location for its geographic competitive advantage over other places. Because it’s the place where our partners are clustered, which in turn ensures benefits from close proximity.”, adding that “Thanks to the city’s strong commitment to investment attraction, we changed the decision.”

A city official said “We’re so pleased to have a very promising business scaling up rapidly in the city. We’ll spare no effort to give full support, helping the investor make a giant leap forward in Daegu city.”

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Source: Yonhap News (Feb 16, 2021)