LS Mtron Signs Investment Agreement with Jeonbuk Province for New Rail Production Plant Construction

Wanju Industrial Complex 37,628㎡ Site
500 Billion KRW Investment Agreement by 2026
Separation of Defense Sector from Existing Jeonju Factory
Enhancement of Track Production Efficiency

LS Mtron announced on the 25th that it has signed an investment agreement with Jeonbuk Special Self-Governing Province to establish a track factory. Tracks refer to track facilities, track vehicles, and related transportation systems necessary for transporting people or cargo.

The signing ceremony was attended by Kim Kwan-young, Governor of Jeonbuk, Kang Im-jun, Mayor of Gunsan, Yoo Hee-tae, County Governor of Wanju, Choi Choong-sik, CEO of Wanju Technovalley, and Choi Young-chul, Head of LS Mtron’s Special Business Division. Representatives and officials from SeAH Steel and GL Chem, who signed the investment agreement with Jeonbuk Province, also participated.

At the investment agreement ceremony held on the 24th in the conference room of Jeonbuk Provincial Government, Jeonbuk Governor Kim Kwan-young (second from the left), LS Mtron Special Business Division Head Choi Young-chul (third from the left), and officials are posing for a commemorative photo. [Photo by LS Mtron]

Under the agreement, LS Mtron will establish a track production factory on a 37,628㎡ site in Wanju Techno 2 Valley Industrial Complex and invest approximately 50 billion KRW by 2026. The company plans to separate the defense sector (tracks) from its existing Jeonju factory to focus on strengthening track productivity. The new factory is located 4 km away from the existing factory, meaning it is close enough to utilize existing infrastructure. Since major partner companies are located within the same industrial complex, production efficiency is expected to improve.

LS Mtron started its military track business in 1974. For over 50 years, it has exclusively supplied tracks for tanks, armored vehicles, and self-propelled artillery to the Ministry of National Defense. It is the only global track manufacturer capable of producing American, Russian, and Korean-style tracks. The company exports tracks to more than 40 countries worldwide, including the United States, Poland, and Spain.

Head Choi Young-chul said, "As the defense industry continues to grow, this is an important time to respond agilely. We will use this agreement as a stepping stone to strengthen track productivity and showcase the excellence of 'K-Defense' to the world."