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Kolektor Sinyung, a foreign-invested company specializing in automotive components, has begun commercial production following the construction of additional production lines at its Gumi plant in North Gyeongsang Province.
The company last year invested 2.5 billion won ($2.2 million) to expand production lines for hybrid automotive components at the plant in Gumi National Industrial Complex No. 4. It plans to make an additional investment of 2.5 billion won for a commutator manufacturing facility.
"If completed, the expansion will create about 60 jobs and elevate the current Gumi plant's profile to that of a major Asian automotive research institute," said a company employee.
Kolektor Sinyung is wholly invested by the Slovenian Kolektor Group.