Daeseongsa, a Hyundai Motor Partner, to Build Auto Parts Plant in Gyeongju with 110 Billion KRW Investment

Heo Bugul and Joo Nakyoung Sign MOU
Completion in 2 Years, 100 Jobs to Be Created

Gyeongbuk Province and Gyeongju City have succeeded in attracting Daeseongsa Co., a key body parts supplier for Hyundai Motor Group. By collaborating with Hyundai Motor, the world’s largest single-plant automobile production base, they are strengthening the automotive parts supply chain and establishing a foothold to prepare for future electric vehicle parts.

On the 21st, Gyeongbuk Province and Gyeongju City will sign a memorandum of understanding (MOU) with Daeseongsa Co. at Gyeongju City Hall. The signing will be attended by Yang Geumhee, Vice Governor for Economic Affairs of Gyeongbuk Province, Joo Nakyoung, Mayor of Gyeongju, and Heo Bugul, CEO of Daeseongsa Co., among others. The MOU covers the construction of a production plant for automobile body parts.

Gyeongbuk Provincial Government

Under this investment agreement, Daeseongsa Co. will invest 110 billion KRW by 2026 to build a factory on a 36,896㎡ site in the Gueo 2 General Industrial Complex in Gyeongju City. The plant will produce automobile body parts, including electric vehicle platforms, using hot stamping processes, and is expected to create about 100 new jobs.

Founded in 1968, Daeseongsa Co. has over half a century of business experience. Starting with supplying parts for Hyundai Motor’s first assembled vehicle, the 1969 Cortina, the company has provided parts for nearly all Hyundai models, including the Pony, Elantra, Sonata, Tucson, Kona, Palisade, Nexo, Ioniq 5, and GV60, establishing itself as a core partner.

Daeseongsa Co. has long been a leading partner of Hyundai Motor and is accelerating investments to lead future automotive technologies through continuous R&D in ultra-high-strength steel, aluminum, and CFRP (carbon fiber reinforced plastic) forming technologies, as well as vehicle lightweighting and eco-friendly vehicle production technologies.

This investment is expected to solidify Gyeongju’s position as Hyundai Motor’s top parts hub, with an anticipated annual production capacity of 1.7 million vehicles, including both internal combustion engine and electric vehicles. The attraction of a company with unrivaled technological competitiveness is raising local expectations for expanding Gyeongju into a future-oriented automotive parts base.

Heo Bugul, CEO of Daeseongsa Co., stated, “Based on over half a century of experience in manufacturing automotive parts, Daeseongsa will continue to lead the global automotive parts industry through ongoing technological development. The Gyeongju plant will become a forward base for leading technologies in vehicle lightweighting and eco-friendly parts production for future vehicles.”

Gyeongju City Hall

Yang Geumhee, Vice Governor for Economic Affairs of Gyeongbuk Province, said, “This investment is expected to further strengthen the competitiveness of Gyeongsangbuk-do and Gyeongju City for sustainable economic development and in the future electric vehicle market. Based on our close cooperation with Daeseongsa Co., we will lead a new era in the automotive industry.”