ULSAN < invest Korea

According to Yonhap News,

The city of Ulsan signed an MOU with an auto parts maker Network Solution Technology (NSTech) on May 3 over a partnership to build up a new manufacturing plant to produce recycled-auto parts. Under the contract agreed upon, the investor establishes a new factory (gross areal 3,300㎡) on a 16,500㎡ site in Ulsan city.

Extracting Polypropylene (PP) from old auto carpet scrap and waste carpets, NSTech will produce the engine splash shield or underbody cover, a plastic or metal protective panel installed on the underside of a vehicle engine. Once the factory starts to scale up, NSTech is planning to extend the scope of product lines to both vehicle interior and exterior parts including recycled bumper, console etc. with 60 new employees.

In return for the commitment, the city pledged to provide all forms of financial and administrative support for the new investor.

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Source:Yonhap News (May 3, 2021)