ULSAN < invest Korea

On February 29, Ulsan-si announced that it attracted production plants of Jeongsan Tech, an auto parts producer.

Jeongsan Tech will invest a total of KRW 19.6 billion to build a 'auto parts manufacturing plant' of 15,203 square meters at GW General Industrial Complex in Onyang-eup, Ulju-gun.

The company plans to commence construction in this month and complete it in November.

Jeongsan Tech started the construction of this factory, separately from existing business site in Goeyon-ri, Unchon-myeon, Ulju-gun, to develop and mass-produce auto parts in line with increasing EV production and exports by domestic automakers.

The company will help creating local jobs and revitalizing economy by hiring Ulsan citizens first for operation of new factory and making new investment.

Ulsan-si will also actively provide administrative and financial support for the success of this investment project.

The city expects that this investment will contribute to revitalizing the local economy by creating 20 new jobs and achieving more than KRW 80 billion sales as of the end of 2025 with the completion of the factory.

canto@yna.co.kr

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Source: Yonhap News (February 29, 2024)