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Bearing Art to Invest in Manufacturing Facilities in Yeongju 상세내용
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- Bearing Art to Invest in Manufacturing Facilities in Yeongju
- 등록일2019-10-02 10:30:41
- 작성자 Investment [ b7d7a865552f8525b372aa646086c325 ☎ ]
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The City of Yeongju took another step in its efforts to become a center of high-tech bearing industry in the era of the Fourth Industrial Revolution.
On the 9th, Gyeongsangbuk-do and Yeongju-si signed a memorandum of erstanding (MOU) at a signing ceremony held at the company’s Yeongju plant with aro 120 attendees including Gyeongsangbuk-do Governor Lee Chul-woo, Iljin Group President Lee Sang-il, Bearing Art CEO Song Yeong-su, National Assembly Member Choi Gyo-il, Gyeongsangbuk-do council members, and local residents. The MOU will see a massive investment in advanced bearing manufacturing facilities.
Bearing Art plans to invest KRW 300 billion over five years between January 2020 and December 2024 in the construction of advanced bearing manufacturing facilities. The investment is expected to create 500 new jobs, thereby greatly contributing to boosting the local economy in the northern part of Gyeongsangbuk-do and revitalizing the job market.
Since its foation in 1973, Iljin Group has been specializing in manufacturing auto parts including casting parts and chassis for the last 46 years. By expanding its operations from wheel bearings to industrial bearings, the group grew into the world’s seventh-largest bearing manufacturer with five corporations and 12 plants in Korea and 10 corporations across five countries outside of Korea.
Bearing Art is an Ilgjin Group affiliate. In December 2011, the company invested KRW 300 billion to build a plant on a 165,000 m2 land in an industrial and agricultural complex in Jangsu-myeon, Yeongju-si on December 2011, from which it manufactures a wide range of industrial bearings.
Governor Lee Chul-woo remarked, “I am confident that this investment from Bearing Art, a bearing industry leader in Korea, will help us revitalize the local economy in the northern part of Gyeongsangbuk-do.”
He also added, “By leveraging this outstanding infrastructure, we will foster the bearing industry into one of the future flagship industries of Gyeongsangbuk-do.”
- 담당부서 :
- Gyeongsangbuk-do Provincial Gove
- 전화번호 :
- 054-880-4614
