Hampyeong-gun Accelerates Co-Growth by Attracting Automobile-Related Companies
Kumho Tire Relocation Confirmed Followed by New Investment of 40.4 Billion KRW, Creating Over 200 New Jobs
[Hampyeong=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] With Gwangju Global Motors (GGM) established in the Bitgreen National Industrial Complex and the relocation of Kumho Tire’s Gwangju factory confirmed, Hampyeong County is accelerating efforts to attract related companies in automotive parts and research and development projects.
According to the county on the 11th, five automotive-related companies have signed investment agreements since 2021.
Hampyeong County signed investment agreements last year with SI Tech Co., Ltd., Weltech Co., Ltd., and Green Autotech Co., Ltd., and this year with Daehosanup Co., Ltd. and GVA Korea Co., Ltd.
All these companies will establish new factories or relocate automotive-related businesses to the Bitgreen Industrial Complex.
SI Tech Co., Ltd. will invest 4 billion KRW to build a new factory for manufacturing new automotive seats on a 6,616㎡ site.
The company produces injection parts for small tactical vehicles and other small vehicle assembly, supplying to Kia Motors, Daeyu A-Tech Co., Ltd. (a GGM affiliate), and Korea Alps.
Weltech Co., Ltd. and Green Autotech Co., Ltd. will invest 5.1 billion KRW and 3.1 billion KRW respectively to relocate their body and special vehicle manufacturing plants from Gwangju Pyeongdong Industrial Complex to the Bitgreen Industrial Complex site.
They produce interior box trucks, elevating interior box trucks, and tank lorries, supplying to Kia Motors.
Daehosanup Co., Ltd. will invest 16.2 billion KRW to build a 34,327㎡ factory in the Bitgreen Industrial Complex for raw rubber products for automotive parts and medium to large tires.
The company outsources some tire processes to Daehan Polychem, an affiliate within the Bitgreen Industrial Complex, and exports 40% of its products to the U.S., Central and South America.
GVA Korea Co., Ltd. will invest 12 billion KRW to build a 15,828㎡ automotive bumper manufacturing plant in the Bitgreen Industrial Complex to supply GGM.
The company plans to supply bumpers to finished car manufacturers such as Hyundai Motor Company and Kia Motors.
Once the five companies complete their investments totaling 40.4 billion KRW according to the agreements, about 200 new jobs are expected to be created.
The county anticipates that the relocation of Kumho Tire’s factory will be a groundbreaking turning point for regional development and plans to operate the ‘Kumho Tire Relocation Support TF Team’ to assist with various administrative procedures.
A county official said, “Despite the difficulties caused by COVID-19, we will provide full administrative and financial support to ensure that various companies can settle stably in Hampyeong County.”
Meanwhile, Kumho Tire Co., Ltd. confirmed the relocation of its Gwangju factory to Hampyeong by paying the contract deposit for the relocation site to Korea Land and Housing Corporation (LH) in January.
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Kumho Tire will invest about 1 trillion KRW to build an eco-friendly tire factory in the Bitgreen Industrial Complex area, expected to contribute to the creation of over 2,200 jobs.
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