Global Auto Parts Company German Continental Opens Future Car Research Center in Bundang

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Continental, a global automotive technology company famous for car tires, is investing 59 billion KRW to establish a future car research institute at the Bundang Global R&D Center in Seongnam City.

Gyeonggi Province announced on the 8th that it signed an online investment agreement with Continental Automotive Korea Co., Ltd. on the 7th at the situation room of the northern government office in Uijeongbu City, containing these details.

According to the agreement, Continental Automotive Korea will establish a future car research institute on two floors (2,809㎡) of the Bundang Global R&D Center to develop autonomous driving software such as vehicle 5G (5th generation) communication components and passenger monitoring systems, as well as safety components like airbags.

To this end, Continental Automotive Korea plans to gather highly skilled researchers currently scattered across existing business sites in Seongnam Pangyo, Sejong, and other locations, and newly hire 40 researchers. Notably, Continental, which was the first in the world to supply vehicle 5G communication components to General Motors (GM), will promote the first domestic commercialization research at the future car research institute.

The province had previously established an investment policy innovation direction in June 2020, focusing on attracting global future car companies.

In September of the same year, while conducting joint investment attraction activities targeting German foreign-invested companies together with the German-Korean Chamber of Commerce and Industry, the province identified Continental’s plan to consolidate and relocate its research institutes. Since then, the province has actively supported Continental’s move into the Bundang Global R&D Center, which was prepared to attract advanced foreign-invested companies’ research institutes.

Lee Han-gyu, Deputy Governor for Administration of Gyeonggi Province, said, "Gyeonggi Province is the center of Korea, a major global automobile production country, and is focusing on building infrastructure such as the Gyeonggi Autonomous Driving Center as well as attracting global future car companies. We expect this agreement to lead to collaboration with about 40 small and medium-sized enterprises in Gyeonggi Province, further strengthening the roots of the domestic automobile industry."

Meanwhile, Continental, established in 1871 in Hanover, Germany, is a global leader in the automotive tire sector. Recently, it has expanded its business areas to include autonomous vehicles and advanced driver assistance system development. Last year, it achieved sales of approximately 33.8 billion euros (about 45 trillion KRW) and currently employs about 190,000 people in 58 countries.

Continental Automotive Korea, established in 1997, currently has its headquarters in Pangyo, Seongnam City, and employs 320 staff who provide vehicle communication and autonomous driving safety components to major domestic and overseas automakers. Since 2001, it has also been collaborating on research projects with about 40 small and startup companies in the automotive sector within the province.

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