Yongsan, Ministry of Industry's Business Restructuring Final Approval... "Accelerating Future Car Transition Project"

[Asia Economy Reporter Jang Hyowon] Yongsan, an automotive interior parts company, is gaining momentum in its 'future car transition' business.

On the 4th, Yongsan announced that it was finally approved as a 'new industry entry company' at the 36th Business Restructuring Plan Deliberation Committee of the Ministry of Trade, Industry and Energy (hereinafter referred to as the Ministry of Industry).

On the 28th, the Ministry of Industry newly approved business restructuring plans for 49 companies in the fields of future cars, bio·eco-friendly, intelligent information·materials, parts, and equipment (SoBuJang). Yongsan was highly evaluated among future car companies for its high potential for overseas expansion and continuous R&D investment.

The Ministry of Industry's business restructuring system is a system that supports proactive structural improvement and corporate innovation activities of normal companies. Approved companies receive incentives such as ▲R&D funding support ▲business restructuring strategy consulting ▲various tax benefits ▲simplification of procedures and regulatory exemptions under the Commercial Act and the Fair Trade Act.

Through this business restructuring, Yongsan will develop next-generation crash pads and seat covers for future cars. Unlike existing products, the crash pads will apply display and smart control technology, and the seats will apply electronic smart control technology.

A Yongsan official said, "In preparation for the future car era, we are striving to secure technological competitiveness not only by developing parts such as crash pads and seat covers but also by actively expanding investments in the secondary battery field such as silicon anode materials and separators through our affiliate A&Pi."