The Shinhwa Group, an automotive parts manufacturer in South Korea has planned to invest 42 million dollars for establishing a manufacturing operation in Auburn, Alabama.
The Auburn operation of the company shall be its first location for manufacturing in the United States. The company is currently constructing a new facility in the Auburn Technology Park West. Phase 1 of the project has been planned to be completed in the year 2020.
Initially, Shinhwa shall be producing drive shafts for the vehicles that are made by Hyundai Motor Manufacturing Alabama in Montgomery as well as Kia Motor Manufacturing Georgia. Shinhwa has planned expansion in the future in its production in Auburn for providing parts for other car manufacturers.
The President, DukKeun Oh, of the newly founded Shunhwa U.S. Auto Corp said that they would start their project in the United States with the introduction of a highly automated process of machining followed by their die casting lines shortly. He also said that they were very excited about their collaboration with Seohan in Auburn and that he saw great opportunities for their growth in North America.
The Governor, Kay Ivey said that Shinhwa’s decision of investing 42 million dollars and creating 95 jobs in Auburn was amazing news for Alabama as it had become an important player in the changing automotive industry. He also said that Shinhwa’s plans of opening its first United States plant in Auburn was proof of their success.
The Chief Executive Officer of the Shinhwa Group in South Korea, Kwi-Hyun Lee said that the Shinhwa Group was now the leader in the die casting industry of aluminum because owing to their willingness to overcome challenges. Furthermore, they were pleased to announce Auburn as their new home and were proud to serve their customers in the United States.