DN Automotive builds a 440 billion won battery production factory in Busan
The city of Busan successfully attracted a large-scale investment from DN Automotive, the largest automotive vibration parts manufacturer in Korea. With this investment, a 440 billion won advanced battery production factory is set to be established in the Dongbusan E-PARK industrial complex in Gijang-gun. This is expected to have a positive impact on the local economy.
DN Automotive selects Busan as a key production base
Last February, DN Group initiated its investment in the global unit advanced manufacturing center of DN Solutions, leading to the establishment of a battery production factory of its core affiliate, DN Automotive, in Busan. This positions Busan as a future key production base.
The city of Busan is scheduled to sign a Memorandum of Understanding (MOU) with DN Automotive on February 20 at 2 PM at the city hall video conference room. This agreement is expected to lay the foundation for Busan to develop as a hub for the future mobility industry.
440 billion won investment to create 300 new jobs
DN Automotive plans to invest a total of 441.2 billion won to establish a battery production factory on approximately 27,000 pyeong of land by 2028. This amount will include 43.6 billion won for the land and 397.6 billion won for construction and equipment. Additionally, about 300 new employees will be recruited across various areas like research and development (R&D), production, and management support.
Through this investment, DN Automotive will significantly expand its battery production capacity alongside its Ulsan factory. This strategy aims to effectively respond to the rapid growth of the electric vehicle and hybrid vehicle markets by utilizing advanced battery technology to develop new markets and strengthen its position in the global market. Such efforts are expected to greatly contribute to the company's sustainable growth.
First large-scale investment attraction after designation as an opportunity development zone
A significant factor played a role in Busan's recent success in attracting large-scale investment. The Dongbusan E-PARK industrial complex was designated as an 'opportunity development zone' in December last year. This region is developing into a key hub for the secondary battery industry, making this investment the first large-scale case since the designation, which holds great significance.
In order to attract DN Automotive's investment, the city of Busan put forth customized site proposals, changes to industrial complex plans, and administrative support without reservation. Thanks to these efforts, the company was able to make a more definitive investment decision. There is a high possibility that more excellent companies will seek to relocate their headquarters or establish new factories in Busan in the future.
For more details on the additional designation of opportunity development zones in Busan, please refer to the posting below.
Expanding influence in the global automotive market
DN Automotive is a company primarily dealing in automotive vibration parts and batteries. It has established partnerships with global automakers such as GM, BMW, and Stellantis, holding a market share ranking within the top three globally in the vibration parts field.
With this investment, DN Automotive is expected to gain an unparalleled competitive edge in the automotive advanced battery market. This move is seen as leading next-generation battery technology while playing an important role in the eco-friendly mobility industry as well. DN Automotive is poised to grow further and establish itself as a notable company.
Busan leaps to become a hub for the future mobility industry
The city of Busan has completed preparations to leap as a global center for the secondary battery and battery industry. In particular, the Dongbusan E-PARK industrial complex has established itself as a hub for the advanced battery industry, and active follow-up investments from related companies are expected.
The investment from DN Automotive is anticipated to enhance not only a new factory’s establishment but also Busan's future industrial competitiveness and play a key role in revitalizing the local economy. This investment attraction will significantly contribute to the development of the city of Busan.
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