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Ulsan-Shinheung SEC signed MOU for the establishment of secondary battery parts production

According to Yonhap News,

Ulsan-si announced on August 7 that it will sign a memorandum of understanding (MOU) with Shinheung SEC for the establishment of a secondary battery parts production plant.

The city will hold a MOU signing ceremony for investment with Shinheung SEC at the mayor's office of City Hall.

According to the MOU, Shinheung SEC will establish a new plant for producing safety device parts for rectangular batteries.

With the investment of KRW 80.4 billion in total, the construction of the plant with monthly capacity of 5 million units will commence in September and be completed in December next year at the Ulsan plant site in Bancheon General Industrial Complex, Eonyang-eup, Ulju-gun.

Ulsan citizens will be given priority in hiring for the operation of the new plant, while employees will be encouraged to move thier residential address to Ulsan.

In addition, local companies will be put into building factories and facilities.

In order to promote the smooth establishment of the new factory, Ulsan-si plans to continue to cooperate with Shinheung SEC and provide administrative and financial support including rapid permission and licensing.

The city expects this investment to create more than 100 new jobs.

Shinheung SEC is a KOSDAQ-listed company headquartered in Osan, Gyeonggi-do, and produces secondary battery metal parts at production plants located in Yangsan (Gyeongnam-do), Hwaseong (Gyeonggi-do), and Gijang (Busan).

Source Text

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Source: Yonhap News (August 7, 2023)

** This article was translated from Korean.