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Iretech, an autoparts maker, to have new production line in Ulsan Mipo industrial cluster

According to Yonhap News,
Ulsan Mipo national industrial cluster will have a new production line, manufacturing the center console (the control bearing surface in the front of the vehicle interior). The city of Ulsan announced on Mar. 5 that Iretech, a console maker, will establish the car factory on a 8,249㎡ site inside Mipo national industrial cluster until July next year. Once it’s implemented, nearly 30 new employees are forecast to work with. To make the process seamless, the city authorities will take the necessary steps from administrative support to cash grants for the facility investment, whereas the autoparts manufacturer plans to give preference to local residents to be employed in return for the municipality support.

Iretech, incorporated in Aug. 2007, runs head office and factories in Bancheon industrial cluster, R&D center and the 2nd manufacturing plant in Uljoo County, Ulsan, having 80 employees in total.

They reached KRW 8 million in sales as of 2019, with net profit of KRW 2.3 billion.

Source Text

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Source: Yonhap News (Mar. 5 , 2020)

*This article was translated from Korean.