Ulsan City has been continuously successful in attracting investments related to secondary batteries since being designated as a national advanced strategic industry specialized complex for secondary batteries.
On the 7th at 3 p.m., Ulsan City held a signing ceremony for a memorandum of understanding (MOU) on the establishment of a new secondary battery parts production plant with Shinheung SEC in the mayor’s office on the 7th floor of the city hall main building. The ceremony was attended by Kim Doo-gyeom, Mayor of Ulsan, and Hwang Man-yong, CEO of Shinheung SEC, among others.
The city secured an investment of 80.4 billion KRW from Shinheung SEC, a leading secondary battery company that has been producing core components directly related to battery safety for 44 years, for the establishment of a new secondary battery parts production plant.
This investment attraction is in the parts sector, unlike the existing secondary battery materials sector with companies such as Korea Zinc, Hwasung, and Yongsan Chemical. The city stated that this investment will serve as a stepping stone to further solidify Ulsan’s position as a major production hub for secondary batteries.
Ulsan Mayor Kim Du-gyeom (third from the right) and Shinheung SEC CEO Hwang Man-yong are taking a commemorative photo after signing an investment attraction agreement.
According to the memorandum of understanding, Shinheung SEC will establish a production plant for safety device parts for prismatic secondary batteries, which are emerging as a future core industry of Ulsan City.
With a total investment of 80.4 billion KRW, the new secondary battery parts production plant, capable of producing 5 million units per month, will be constructed on the site of the Ulsan factory located in Bancheon General Industrial Complex, Eonyang-eup, Ulju-gun. Construction will begin in September and is scheduled to be completed by December next year.
When hiring new personnel for the operation of the new plant, Ulsan citizens will be given top priority, and employees will be actively encouraged to change their residence to Ulsan.
Additionally, the company promises to actively utilize local businesses during the construction and equipment installation of the plant, cooperating mutually with Ulsan City to create jobs and revitalize the local economy. The new investment is expected to create more than 100 new jobs.
Ulsan City will continuously cooperate with Shinheung SEC to ensure smooth progress of the new production plant investment and will actively support administrative and financial processes such as prompt permits and approvals.
Hwang Man-yong, CEO of Shinheung SEC, said, “Based on 44 years of accumulated core component technology directly related to battery safety and advanced process technology (know-how), we will produce the best products in Korea to strengthen market dominance and global competitiveness.”
Kim Doo-gyeom, Mayor of Ulsan, said, “I hope that this new business investment by Shinheung SEC, newly rooted in Ulsan, will achieve even greater results through cooperation with major companies such as Samsung SDI.”
He added, “We will continue to strengthen support for the secondary battery industry, a future core industry of Ulsan, and do our best to help Ulsan grow into a leading city in the secondary battery industry.”
Shinheung SEC is a KOSDAQ-listed company headquartered in Osan, Gyeonggi Province. It is a company that has steadily grown and accumulated technology through early entry into the secondary battery business.
The company operates four production plants in Yangsan, Gyeongnam; Hwaseong, Gyeonggi; and Gijang, Busan, producing secondary battery metal parts (explosion prevention), among others.
In response to the increase in global electric vehicle demand and the emphasis on safety issues after COVID-19, the demand for safety parts for secondary batteries is also expected to rise. To proactively respond to this demand expansion and strengthen market dominance, the company decided to establish this new secondary battery parts production plant.
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