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Gumchang Co., Ltd. Will Invest in Yeongcheon Industry District of DGFEZ

2024-01-17 00:00:00

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Gumchang Co., Ltd., a global automotive moving and seat part company, is set to invest in manufacturing facilities for the production of electric vehicle battery pack cases and seat frames in Yeongcheon City, Gyeongsangbuk-do.

A mutual agreement on Gumchang's investment was signed at Yeongcheon City Hall on January 17, attended by the commissioner of DGFEZ, the Mayor of Yeongcheon City, and the CEO of Gumchang.

Investing as a return-to-home company, Gumchang plans to allocate 20 billion KRW from 2024 to 2026 for a 14,000㎡ site in the Yeongcheon Industry District, a part of DGFEZ. The investment will focus on establishing manufacturing facilities for automobile battery module cases and seat frames.

Since its establishment in 1991, Gumchang has consistently expanded as a manufacturer specializing in automobile body parts, securing a prominent position in the domestic body parts industry. It earned recognition as a World Class 300 company in 2017, Hyundai and Kia Motors Group's Partner of the Year in 2014 and 2020, and received a gold top industrial medal in 2019.

The decision for Gumchang to relocate from China to Korea stemmed from a decrease in partner business and challenging economic conditions. With the support of KOTRA and the Ministry of Trade, Industry, and Energy, Gumchang, selected as a beneficiary company in August 2023, decided to join DGFEZ.

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