JEOLLABUK-DO < invest Korea

According to Yonhap News,

The city of Gunsan, North Jeolla Province announced on Mar. 3 a project to newly establish a production line, manufacturing 30-40 percent cheaper but high quality alternative autoparts, well comparable to authentic products. The factory, which costs approximately KRW 15 billion (partly sourced from national budget of KRW 7.5 billion) comes into Jeonbuk Institute of Auto-convergence Technology (JIAT).

The assembly line will be equipped with large size test machines to develop and test the alternatives.

They’ also provide financial and technological sources to develop interchangeable autoparts. A city official said “It is highly expected to see the businesses further diversified and more jobs to hire local residents.”

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Source: Yonhap News (Mar. 3 , 2020)