Hyundai Cummins Engine Company completes factory in Daegu, South Korea

Hyundai Cummins Engine Company, a joint venture company between Hyundai Heavy Industries and Cummins completed construction of its factory in Daegu Technopolis in the Daegu-Gyeongbuk Free Economic Zone.

The Hyundai Cummins Engine Company plant (78,045 square meters) is capable of producing 50,000 diesel engines for construction machines a year, targeting annual sales of USD 500 million by 2020. The factory will employ approximately 500 workers and is expected to create about 3700 jobs in the region with a spillover effect worth over USD 6.2 billion.

Participating in the completion ceremony were Lee Jai-seong, President of Hyundai Heavy Industries, Dave Crompton, Vice President of Cummins, Kim Bum-il, Mayor of Daegu, and Byung-Rok Choi, Commissioner of Daegu-Gyeongbuk Free Economic Zone Authority.

Source : DGFEZ Investment Strategy Team