Yeongcheon City Signs $10 Million Investment MOU with Huade Korea Co., Ltd.

Establishing Automotive Parts Production Lines
Expected to Create 150 New Jobs

On January 6, Yeongcheon City signed a memorandum of understanding (MOU) with Huade Korea Co., Ltd. in the video conference room at City Hall to attract an investment worth 10 million US dollars.

The signing ceremony was attended by key figures, including Choi Kimoon, Mayor of Yeongcheon, Kang Sangki, Acting Commissioner of the Daegu-Gyeongbuk Free Economic Zone Authority, and Wang Ming, CEO of Huade Korea Co., Ltd. The parties pledged mutual cooperation for the successful implementation of the project.

Provided by Yeongcheon City

Under the agreement, Huade Korea Co., Ltd. plans to invest 10 million US dollars in the Yeongcheon Advanced Parts and Materials Industrial Complex to establish production lines for automotive parts, including door handles and actuators.

Once this investment is fully underway, it is expected to create approximately 150 new jobs, which is anticipated to make a significant contribution to revitalizing the local economy.

Huade Korea Co., Ltd. is a subsidiary of Huade Holdings Group, China's largest automotive door handle manufacturer. It was established in July 2021 and is headquartered in Siheung, Gyeonggi Province.

The company's main business is the manufacturing of new automotive parts, with its primary products being automatic door handles and actuators. Hyundai Motor Company and Kia Corporation are its major clients.

Yeongcheon City plans to provide active support to ensure the smooth progress of Huade Korea Co., Ltd.'s investment, and expects that this investment will play an important role in developing Yeongcheon into a hub for the future automotive industry.

A city official stated, "Huade Korea Co., Ltd.'s investment will be a turning point that further strengthens Yeongcheon City's industrial competitiveness," adding, "We will continue to provide all necessary administrative support so that promising companies can fully realize their potential in Yeongcheon."