TS Automotive to Invest 35.2 Billion Won to Expand Automobile Parts Plant in Oedong, Gyeongju... Completion by 2028

On January 29, North Gyeongsang Province signed a memorandum of understanding (MOU) at Gyeongju City Hall with Gyeongju City and TS Automotive Co., Ltd. for the expansion of an automobile body parts production plant.

The signing ceremony was attended by Lee Nameok, Head of the Airport Investment Headquarters of North Gyeongsang Province, the Mayor of Gyeongju, Gyeongju City Council members, Min Kyuhyun, CEO of TS Automotive, and 20 other participants, who shared the investment plans and reaffirmed their commitment to mutual cooperation.

Gyeongju City Hall

Under this agreement, TS Automotive plans to invest a total of 35.2 billion won from 2026 to 2028 to expand its automobile body parts production plant in Naengcheon-ri, Oedong-eup, Gyeongju, and create 15 new jobs.

The investment will focus on manufacturing new automobile body parts, with the company set to produce core body components for electric vehicles such as the Kona and Genesis EV, in response to Hyundai Motor's expansion of new electric vehicle models.

North Gyeongsang Province and Gyeongju City plan to actively support the smooth implementation of this investment by assisting with various administrative procedures, such as permits and approvals, and will also consider providing subsidies within the relevant legal and budgetary frameworks.

Lee Nameok, Head of the Airport Investment Headquarters of North Gyeongsang Province, stated, "This agreement will strengthen the competitiveness of the automotive parts industry in North Gyeongsang Province and accelerate the transition to the future mobility industry," adding, "We will continue to create an environment where companies can invest with confidence, leading to the creation of quality jobs and revitalization of the local economy."

Min Kyuhyun, CEO of TS Automotive, said, "We are pleased to expand our production capacity in line with Hyundai Motor's growing range of electric vehicles," and added, "We are grateful for the active support from North Gyeongsang Province and Gyeongju City, and we will strive to grow together with the local community."

Meanwhile, TS Automotive, established in 1985, is a company specializing in automobile body parts. Based on 40 years of accumulated technological expertise, it continues to enhance its competitiveness in the electric and future mobility parts market through ongoing technological development and facility investment. This investment is also expected to contribute to the formation of a future mobility industry cluster in the province.

This content was produced with the assistance of AI translation services.