Hyundai Feed Expands Production Capacity with New Factory Construction

[Asia Economy Reporter Park Hyungsoo] Hyundai Feed announced on the 28th that it has finalized a plan to increase the production capacity of its new factory to 1.6 times that of the existing factory and has begun the design phase. The new factory will be built in the Cheonan Northern BIT Industrial Complex, which is being developed through a public-private joint development method by Cheonan City.

The new factory is planned to be constructed on a 7,080-pyeong site with an annual production capacity of 480,000 tons, aiming for completion in 2025. The production capacity is expected to increase by about 60% compared to the existing factory. A land purchase contract was signed last year for the factory relocation. The contract will be finalized upon payment of the remaining 10%. The site of Hyundai Feed's existing factory will be developed into an apartment complex in line with the factory relocation.

A company official explained, "Large apartment complexes are located around the Hyundai Feed factory, and the area around the factory is a planned site for the Yonggok-dong urban development project." He added, "The existing factory site is classified as a Type 2 residential area, and the land use change has already been completed. Recently, we have started receiving letters of intent to purchase from developers."