Samsung, SK, Hyundai Motor, LG... Roads Named After Korean Companies Cross the US

SK On Georgia Road
Official Renaming to 'SK Boulevard'
'Samsung Highway' in Texas
'Hyundai Boulevard' in Alabama
'LG Highway' in Tennessee
Thanks for Trillions Invested in Factory Expansion

Another road named after a major Korean company has been established in the United States. It is a kind of 'Welcome Kit' prepared by the U.S. state government. Competition to attract Korean companies, which invest trillions of won at once and employ thousands of local workers, is becoming even fiercer.

In Commerce City, Jackson County, Georgia, the road leading to SK On's U.S. subsidiary Battery America (SKBA) was renamed 'SK Boulevard' starting from the 1st of this month. On the 20th (local time), SK On held a plaque ceremony at the SKBA Georgia plant attended by SKBA officials, Clark Hill, Mayor of Commerce, and other key local figures. Mayor Hill said, "On behalf of Commerce City and Jackson County, I present this sign to officially rename the Steve Reynolds Industrial Parkway section to SK Boulevard."

This road name change is to express gratitude to SKBA, which expanded its factory through an investment of about 3 trillion won and employed thousands of local workers. SK On operates two battery plants in Georgia: Plant 1 (9.8GWh), which started operations in the first quarter of last year, and Plant 2 (11.7GWh), which began early operations at the end of last year. SK On also achieved its promise to the state government of hiring 2,600 local workers ahead of schedule. The target employment date was 2024, but it was achieved two years earlier.

Not only the road name but also the name of the industrial complex where SKBA is located will be changed to the tentative name 'SK Battery Park.' A sign will be installed at the exit of Highway 85 leading to SKBA in the second half of this year. An SK On official said, "The Georgia state government's active support policies played a significant role in SK On selecting Georgia as its North American battery production base." There is also an SK Road in Georgia. In the early 2000s, a road named after SKC was established near the SKC plant in Georgia.

SKro in Georgia, USA
[Photo by SK On]

In Texas, USA, there is Samsung Road. The road near the foundry (semiconductor contract manufacturing) plant under construction in Taylor City, Texas, is named 'Samsung Highway.' In January this year, Kyung Kye-hyun, President of Samsung Electronics Semiconductor (DS) Division, visited the construction site and took a photo holding the road sign gifted by Bill Gravell, Williamson County Judge.

Samsung Electronics invested $17 billion (about 22 trillion won) to build a foundry plant in the rural town of Taylor, Texas. The plant is being developed on a 5 million square meter (1.5 million pyeong) site, aiming to start operations in the second half of 2024. Samsung Electronics is highly valued in the U.S. due to the significant economic ripple effects it is expected to bring. The Texas governor expects this project to create more than 2,000 jobs. Taylor City will refund 92.5% of property taxes to Samsung Electronics for the first 10 years, 90% for the next 10 years, and 85% for the following 10 years, providing Samsung Electronics with tax reduction benefits for 30 years.

Samsung Electronics President Kyung Kye-hyun (left) visited the foundry plant construction site in Taylor, Texas, USA, on January 8 (local time) and received a "Samsung Highway" road sign as a gift from Bill Gravell, Williamson County Judge. [Image source=President Kyung Kye-hyun's Instagram]

In Montgomery City, Alabama, where Hyundai Motor's plant is located, there is 'Hyundai Boulevard.' The state government named it in May 2005 to commemorate the completion of Hyundai's plant.

The road was also expanded from two lanes to four lanes. Alabama is known to have provided land and infrastructure facilities worth over $60 million, tax benefits of $69.8 million, as well as vocational training facilities worth $61.8 million and advertising support of $1 million to attract Hyundai's plant.

Hyundai Motor Company Alabama Plant in the United States
[Photo by Hyundai Motor Company]

In Tennessee, north of Alabama, there is 'LG Highway.' LG Electronics built a washing machine production plant in the small town of Clarksville, Tennessee, in 2018. In September last year, it invested $30 million to start a dryer production line. The annual production capacity is 1.2 million washing machines and 600,000 dryers.

LG Electronics' cumulative investment amounts to $390 million (about 484 billion won). LG Electronics leased the plant site rent-free for 20 years and also received tax reduction benefits.

LG Highway in Tennessee, USA
Photo by LG Electronics