KBI Dongguk Industrial announced on the 17th that it recently completed the expansion construction of its Shin Asan plant to stably supply newly received order volumes.
The company currently mass-produces parts for 14 domestic car models at four parts factories in Korea, including the Shin Asan plant, Asan, Ulsan, and Gyeongju. The Shin Asan plant produces plastic injection products such as crash pads, consoles, carriers, and multi-boxes used in finished vehicles.
Since June last year, the company invested 14 billion KRW to expand factory facilities. The expanded plant will produce parts for five new electric vehicle models from Hyundai and Kia, including Kia’s new electric purpose-built vehicle (PBV) platform.
The company explained that the expansion included automating the production line to improve production efficiency. Including Plant 1, the facilities have grown to a scale capable of achieving sales of 100 billion KRW, up from 80 billion KRW. The company expects sales from the four domestic plants to increase from 407 billion KRW last year to 425 billion KRW this year and 460 billion KRW next year.
Kim Yong-hee, CEO of KBI Dongguk Industrial, said, "We will devote ourselves to research and development investment to supply high-quality products that exceed the future demands of our customers."
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