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Shinsung ST, a hidden champion in small secondary battery, to relocate its headquarters and production bases in China to Busan
Shinsung ST, a hidden champion in small secondary battery, will relocate its headquarters and production bases in China to Busan.
The Busan Metropolitan Government announced that it will sign a memorandum of understanding (MOU) with Shin Seong STShinsung ST on reshoring to Korea.
Shinsung ST, established in 2004 as an affiliate of Shinsung Delta Tech, is a hidden champion with specialized technologies related to secondary battery parts such as eco-friendly electric vehicle batteries and energy storage systems (ESSs).
The company, which was designated as a Ppuri (root) technology company in 2016, was listed on the KOSDAQ in recognition of its technological and innovative management capabilities, as demonstrated by receiving the SME Technology Innovation Award in 2020.
Shinsung ST plans to combine and relocate its production base in China and headquarters in Changwon to Busan to supply "secondary battery parts" to the US for four years starting next year after winning an order of KRW 1.7 trillion in January this year.
The company plans to invest KRW 46.3 billion in the Mieum foreign investment zone in Gangseo-gu, Busan to build a 'secondary battery smart factory' equipped with automation facilities and certification systems by the end of this year, and start annually mass-producing secondary battery parts worth KRW 100 billion from next year.
Shinsung ST is expected to creating jobs and revitalizing the local economy by hiring 60 new workers locally, in management, purchase, production, and quality, while utilizing local companies from factory construction to business operation.
ccho@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2024.03.11
Views
59
According to Yonhap News,
Shinsung ST, a hidden champion in small secondary battery, will relocate its headquarters and production bases in China to Busan.
The Busan Metropolitan Government announced that it will sign a memorandum of understanding (MOU) with Shin Seong STShinsung ST on reshoring to Korea.
Shinsung ST, established in 2004 as an affiliate of Shinsung Delta Tech, is a hidden champion with specialized technologies related to secondary battery parts such as eco-friendly electric vehicle batteries and energy storage systems (ESSs).
The company, which was designated as a Ppuri (root) technology company in 2016, was listed on the KOSDAQ in recognition of its technological and innovative management capabilities, as demonstrated by receiving the SME Technology Innovation Award in 2020.
Shinsung ST plans to combine and relocate its production base in China and headquarters in Changwon to Busan to supply "secondary battery parts" to the US for four years starting next year after winning an order of KRW 1.7 trillion in January this year.
The company plans to invest KRW 46.3 billion in the Mieum foreign investment zone in Gangseo-gu, Busan to build a 'secondary battery smart factory' equipped with automation facilities and certification systems by the end of this year, and start annually mass-producing secondary battery parts worth KRW 100 billion from next year.
Shinsung ST is expected to creating jobs and revitalizing the local economy by hiring 60 new workers locally, in management, purchase, production, and quality, while utilizing local companies from factory construction to business operation.
ccho@yna.co.kr
Source Text
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Source: Yonhap News (March 4, 2024)
** This article was translated from Korean.