Investment Agreement Signed Between Ulsan City and Dn Automotive on the 28th
Strengthening Position as a Hub for Advanced Industries Including Secondary Batteries
With Ulsan City attracting a high-performance battery production plant worth 62.1 billion KRW, its position as a hub for advanced industries such as secondary batteries is expected to become even more solidified.
On the 28th at 11 a.m., Ulsan City and D&Automotive signed an investment agreement (MOU) for the expansion of a high-performance AGM battery production plant in the mayor's office, attended by Mayor Kim Doo-gyeom and D&Automotive CEO Kim In-hwan, among others.
AGM (Absorbent Glass Mat) batteries use absorbent glass fibers to effectively absorb electrolyte, preventing leakage, and are high-performance batteries with long lifespan and high discharge performance even under frequent charging and discharging.
According to the investment agreement, D&Automotive will invest 62.1 billion KRW to expand the high-performance AGM battery production plant.
The expansion plant will be located on idle land within Ulsan Plant 1 in the Shin Industrial Complex (Onsan-eup), with completion targeted for November 2025. The plant plans to produce 1.5 million batteries annually, most of which will be exported.
This investment attraction is expected to greatly contribute to job creation and economic revitalization in the region by prioritizing the hiring of local residents in relation to the plant expansion.
Ulsan City plans to continuously cooperate with the company and provide active administrative support such as prompt permits and approvals to ensure the successful promotion and stable settlement of this expansion investment project.
CEO Kim In-hwan of D&Automotive said, “We appreciate Ulsan City’s support for this expansion investment,” adding, “We will devote all our capabilities to this investment and strive to make the Ulsan region a center for battery and secondary battery material industries through continuous investment in related industries in the future.”
Mayor Kim Doo-gyeom stated, “We expect D&Automotive’s position in the battery material industry to become even stronger with this investment,” and added, “Ulsan City will continue to strengthen pro-business policies so that more companies in advanced industries such as semiconductors and secondary batteries can invest in Ulsan, doing our best to make Ulsan a great place for investment.”
D&Automotive is a company that manufactures and sells automotive vibration control products and automotive batteries. Its vibration control division holds a top 3 position in the global automotive vibration control product market, and over 90% of its automotive batteries (X-Pro Battery) are exported.
Ulsan City Hall.
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