Perspective view of the new Corens EM factory under construction in the Busan Gangseo-gu International Industrial Logistics City (Provided by Gihae General Construction)
[Asia Economy Reporter Lee Chun-hee] Kihae General Construction announced on the 6th that it has been selected as the contractor for the construction of the new office building of the IFC Group's Changwon branch, a GA (General Agency for insurance independent corporations).
This project involves constructing a commercial building with 2 basement floors and 13 above-ground floors in Palyong-dong, Uichang-gu, Changwon-si, Gyeongnam. After completion, the IFC Group plans for the Changwon branch to serve as the spearhead for expanding the market in the Busan and Gyeongnam regions.
Kihae General Construction is currently also carrying out the construction of a new factory for Korens EM, a company specializing in electric vehicle parts production. This project is located in Block I43 of the International Industrial Logistics City in Gangseo-gu, Busan, with a total floor area of 30,986㎡, consisting of 1 basement floor and 3 above-ground floors, including a testing building, factory building, office building, and annex. Upon completion, a cooperative cluster of more than 20 electric vehicle parts suppliers will be established, creating a win-win ecosystem expected to have a positive impact on the local economy.
Park Hyun, CEO of Kihae General Construction, said, "This year marks the meaningful 10th anniversary of our founding, but it is saddening that the entire country is going through a difficult time due to the novel coronavirus infection (COVID-19). However, I sincerely thank all our employees who are quietly doing their best despite the challenging economic conditions, and we will do our utmost to become a strong construction company that proactively responds to the rapidly changing market environment and turns crises into opportunities."
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