GANGWON-DO < invest Korea

According to Yonhap News,

(WONJU=Yonhap News) Automotive component supplier KAC will hold a completion ceremony to celebrate the completion of its second factory in the Bankye Industrial Complex in Munmak County, Wonju City, Gangwon Province on October 25, 2016.

The company decided to expand its manufacturing facility as its existing plant in the Donghwa general industrial complex couldn't keep up with rising demand.

The company entered into a memorandum of understanding with Gangwon Provincial Government, Wonju City government and the Korea Industrial Complex Corp. in July last year to build a new plant.

The new plant, built on the land of 20,738 square meters, created 75 new jobs. The number of newly hired employees of the plant is projected to reach 100 by year-end and 250 by the end of 2018.

Along with the increase in employment, the supplier of customized auto parts anticipates its sales revenue will increase to KRW 53 billion this year, KRW 80 billion in 2017, and KRW 100 billion in 2018.

ryu625@yna.co.kr

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