Kyungdong Navien to Build Factory in Virginia, USA with 92 Billion KRW Investment

Exterior view of Navien America, Kyungdong Navien's local subsidiary located in California, USA

[Asia Economy Reporter Kim Daeseop] Kyungdong Navien announced on the 26th that it plans to build a boiler manufacturing plant in Virginia, USA.

The local production plant is planned to be completed by 2024 with a total investment of 92 billion KRW. First, an Eastern logistics warehouse will be constructed in James City County, Virginia, and through continuous facility investments until 2024, a production plant with an area of 82,644.6㎡ will be built.

This investment aims to further expand influence in the North American market. Kyungdong Navien is currently selling boilers and water heaters in the North American market through its local subsidiary.

Both boilers and water heaters are adjacent to the high-demand Eastern market, and the proximity to the Virginia port will facilitate both material supply and logistics delivery, according to Kyungdong Navien.

Lee Sang-gyu, head of Kyungdong Navien's US subsidiary, said, "Through this investment, the volume previously supplied through California can be flexibly allocated according to demand within the US," adding, "We have gained another driving force to continuously achieve growth in the North American market."

This content was produced with the assistance of AI translation services.