513 Billion Won Scale and Factory Expansion
Creation of 31 New Jobs
BorgWarner Changnyeong, a leading mid-sized company representing Changnyeong-gun, Gyeongnam, held a groundbreaking ceremony for a new factory within the existing factory site in Gyesong-myeon, Changnyeong-gun on the 24th.
About 200 people attended the groundbreaking ceremony, including Seong Nak-in, Changnyeong County Governor; Seong Su-young, Head of the Gyeongsangnam-do Investment Attraction Team; Kim Dong-hee, CEO of BorgWarner Changnyeong; Stefan Demmerle, President of BorgWarner PDS Division; Kwon Taek-hwan, Head of Purchasing Team 1 at Hyundai Motor Company, a client; and Seo Han-jong, CEO of Taewon Jeonjang, the chairman company of partner firms.
Groundbreaking Ceremony for Vogue War Changnyeong New Factory Held. [Image provided by Changnyeong-gun]
BorgWarner Changnyeong plans to invest a total of 51.3 billion KRW to expand the factory by 8,663.21㎡ (2,620 pyeong) within the existing factory site. Upon completion of the construction, 31 new jobs will be created.
Established in 1996, BorgWarner Changnyeong is a specialized company that develops and manufactures automotive parts such as starters and inverters. It is expanding its business scope from producing internal combustion engine automotive parts to new businesses in electric drive systems for eco-friendly vehicles.
Following business expansion, last September, BorgWarner Changnyeong signed an investment agreement (MOU) worth 42.6 billion KRW with Changnyeong-gun to manufacture and supply electric vehicle parts, and is promoting the expansion of its business site within the existing business site area in Gyesong-myeon.
In his congratulatory speech, Governor Seong said, “Congratulations on the groundbreaking of BorgWarner Changnyeong’s new factory. Amid the crisis faced by small and medium local governments nationwide due to population decline and regional extinction, we expect that this investment by BorgWarner Changnyeong will create quality jobs and bring new vitality to the local economy.”
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