Invest KOREA

(GUMI=NEWSIS) ElringKlinger AG (CEO Stefan Wolf), a German automobile parts manufacturer, held a completion ceremony for its Gumi plant at the Gumi National Industrial Complex on July 23.

More than 100 participants attended the ceremony, including Governor Kim Kwan-Yong of North Gyeongsang Province, Gumi Mayor Nam Yoo-chin, CEO Stefan Wolf of ElringKlinger AG and Tae-Kon Kim, General Manager of ElringKlinger Korea Co., Ltd.

ElringKlinger AG has invested USD 10 million in the construction of a gasket plant on 26,000 ㎡ of land since last June.

ElringKlinger AG expects the Gumi plant to generate an import substitution effect worth KRW 10 billion annually and create 120 new jobs.

Founded in 1879 in Baden-Württemberg, Germany, ElringKlinger AG is a global automobile parts company that also produces secondary batteries and fuel cells. The company has 21 branches in Europe, the Americas and Asia. "We appreciate the relentless efforts of Gumi and we will show our appreciation by improving the city’s competitiveness and production,” said Tae-Kon Kim, General Manager of ElringKlinger Korea Co., Ltd.

"Building confidence is the most important element to attracting foreign-invested companies, and we will become a strong partner for our corporate investors. Many German and Japanese automobile parts manufacturers, including ElringKlinger AG, ZF Friedrichshafen AG and Shinhwa Takahashi Press Co., Ltd., have invested in the Gumi industrial complex for foreign companies. Gumi is recognized as the optimal place for the automobile parts industry,” said Gumi Mayor Nam Yoo-chin.

choo@newsis.com

Source Text

Source: Newsis (July. 23, 2014)

** This article was translated from the Korean.