According to Yonhap News,

U.S.-based bedding manufacturer Tempur Sealy will build in South Korea what will be its biggest mattress plant in Asia by next year to meet rising local demand for its products, Sealy Korea said Monday.

Sealy Korea has operated a mattress plant in Yeoju, 64 kilometers southeast of Seoul, since 2016. It plans to shut it down next year when the new plant is completed near the city, the company said in a press release.

The construction for the plant is set to begin in June, according to the company.

"Sealy Korea is the fastest-growing operation within Sealy globally. The decision to build a new factory in Yeoju reflects our confidence in the market and our employees," Simon Dyer, chairman and chief executive officer at Sealy's Asia-Pacific operations, said in the release.

The strategic investment in Korea is aimed at fostering it as a global manufacturing hub for the U.S. company, it said.

The company didn't provide the exact timeframe for the plant's completion and the investment size.

Tempur Sealy has production facilities in the United States, Europe and other countries, including Australia and China.



kyongae.choi@yna.co.kr

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Source: Yonhap News (March 10, 2024)