Invest KOREA

Molex Korea, established by the United States’ Molex, has completed an electronic connector manufacturing plant in the Banwol Industrial Complex in Ansan, Gyeonggi Province.

The building completion ceremony, held April 2 at 10 a.m., was attended by 500 guests, including Gyeonggi Governor Kim Moon-soo, Ansan Mayor Kim Cheol-min, CEO Martin P. Slark of Molex, and President Lee Jae-hoon of Molex Korea. “We will help Molex Korea successfully operate its business by utilizing our excellent industrial infrastructure and high-quality human resources,” said Governor Kim.

The company has built the manufacturing plant on a 13,926㎡ site with an investment of USD 30 million. It will supply electronic connectors used for liquid crystal displays, mobile phones, and tablet PCs to Samsung, LG Electronics, LG Display, and Hyundai Motor Company.

The provincial government expects the plant to create an import substitution effect worth KRW 54 billion, improve domestic technology, and secure price competitiveness.

Molex Korea was established in May of 1984 with the technology and capital of Molex. Molex, whose headquarters is located in Illinois, is a global corporation with sales of USD 3.007 billion last year. It has 35,519 employees and 39 production bases in 16 countries worldwide. Forecasting a surge in demand for electronic connectors, Molex signed a memorandum of understanding with the Gyeonggi Provincial Government in April of 2011.

Source: Newsis (Apr. 2, 2013)

** This article was translated from the Korean.