On July 7, Yeongcheon City signed a Memorandum of Understanding (MOU) at the city hall's main conference room, with officials including Lee Nameok, Director of Gyeongsangbuk-do Airport Investment Headquarters; Kim Byungsam, Head of Daegu-Gyeongbuk Free Economic Zone Authority; Shin Soonchul, CEO of Carpec Valeo Co., Ltd.; and Moon Heekoo, Head of Daegu-Gyeongbuk Regional Headquarters of Korea Land and Housing Corporation (LH), in attendance.
Under this agreement, Carpec Valeo Co., Ltd. plans to invest a total of 160 billion KRW by 2030 to establish an electric vehicle battery system (BSA) production line on an industrial site of approximately 11,000 pyeong within the Yeongcheon High-Tech Park District.
Yeongcheon City signed a Memorandum of Understanding (MOU) on the 7th at the city hall's main conference room. (From left) Kim Byungsam, Head of Daegu-Gyeongbuk Free Economic Zone Authority; Lee Nameok, Director of Gyeongsangbuk-do Airport Investment Headquarters; Shin Soonchul, CEO of Carpec Valeo Co., Ltd.; Moon Heekoo, Head of Daegu-Gyeongbuk Regional Headquarters of Korea Land and Housing Corporation (LH).
This investment is also expected to create more than 100 new jobs.
BSA (Battery System Assembly) refers to a core automotive electrification component that stores high-voltage electrical energy and supplies it to electric motors and various electronic parts.
Carpec Valeo Co., Ltd. was established as a joint venture with the global French automotive parts company Valeo, and currently operates five subsidiaries in five countries worldwide, including its headquarters in Korea.
The company specializes in producing automotive power transmission devices such as torque converters, and leads the global automotive parts market based on its proprietary technology and high-quality competitiveness.
Recently, the company has been expanding its business into the future vehicle parts sector, striving to strengthen its competitiveness in response to the era of electrification.
For this investment attraction, Yeongcheon City closely coordinated with related organizations such as Gyeongsangbuk-do and the Daegu-Gyeongbuk Free Economic Zone Authority, actively reflecting the company's requirements.
In addition, by cooperating with LH, the project operator, the city actively worked to attract the company by flexibly adjusting development plans to match Carpec Valeo's site conditions and production plans, and by preparing various administrative support measures.
This investment is expected to significantly contribute not only to strengthening the competitiveness of Gyeongsangbuk-do's electric vehicle industry but also to revitalizing the local economy of Yeongcheon City.
Shin Soonchul, CEO of Carpec Valeo Co., Ltd., stated, "This MOU signing will be a crucial opportunity for Carpec Valeo to go beyond being the global No. 1 automatic transmission torque converter company and to re-emerge as a global leader in the electrification era through electric vehicle battery systems (BSA) and energy storage systems (ESS). Going forward, we will continue to pursue sustainable development and fulfill our social responsibilities as a company, based on ESG management, together with Gyeongsangbuk-do and Yeongcheon City."
Choi Kimoon, Mayor of Yeongcheon City, said, "Carpec Valeo's investment will be a turning point that injects new growth momentum into Yeongcheon City's economy. We will spare no administrative support to ensure that the company can stably carry out its business in the Yeongcheon High-Tech Park District."
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