On June 17, Daegu City signed an investment agreement with Ilsin Plastic Co., Ltd. (CEO Jeon Byungkyu) at the Sanggyeok office of Daegu City Hall for the construction of a new automobile parts factory.
Ilsin Plastic Co., Ltd., established in 1971, is a long-standing company in the Daegu region. It is a small and medium-sized enterprise specializing in the development and production of plastic materials for automobile interior and exterior parts.
Daegu Ilsin Plastic CEO Byungkyu Jeon (right) is taking a commemorative photo with Seongju Hong, Deputy Mayor of Daegu for Economic Affairs, after signing an investment agreement with Daegu City.
In its early years, the company primarily produced plastic products for textiles. However, since the 1980s, it has shifted its business to the automobile parts sector in line with changes in the industrial structure, and has continued to grow ever since.
After being selected as a Daegu Star Company in 2016, Ilsin Plastic Co., Ltd. has been recognized for its potential technological capabilities and growth. In 2020, the company overcame the COVID-19 crisis and began exports to Japan for the first time. Currently, it is expanding its export markets to countries such as Mexico and Thailand. In 2023, the company achieved remarkable results in both domestic and international markets, including receiving the 2 Million Dollar Export Tower award.
Through this agreement, Ilsin Plastic Co., Ltd. will invest approximately 30.9 billion KRW to build a new automobile parts factory on a 14,079-square-meter (4,266 pyeong) site within the National Industrial Complex. This proactive investment is aimed at responding to continuously increasing new orders.
The new factory is expected to create about 70 new jobs. Construction is scheduled to begin as early as July this year, with full-scale operations set to commence in March next year.
Jeon Byungkyu, CEO of Ilsin Plastic Co., Ltd., stated, "Having grown together with Daegu for more than half a century, the establishment of this new factory is very meaningful," and added, "We will continue to take root in the region and become a company that grows continuously through export expansion and talent recruitment."
Hong Seongju, Deputy Mayor of Daegu for Economic Affairs, said, "I hope that Ilsin Plastic, which has grown for a long time as an automobile parts manufacturer, will further develop in Daegu, the central city of the automobile parts industrial belt." He also stated, "Daegu City will spare no administrative and policy support to ensure that the new factory is completed as planned and operates successfully."
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