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Yulchon of Korea will build a plant for the automotive industry. Key location and strategic decision
They have been producing for the automotive industry in Korea and Mexico, and now they will do so in Poland as well. South Korea's Yulchon will build a plant near Wroclaw. This is another major Korean investment in the Wroclaw metropolitan area. See when production will start.
Korean automotive parts company Yulchon is starting operations in Poland. Near Wroclaw, Yulchon will build an industrial plant.
- Yulchon Poland has received a decision on support from the Legnicka Special Economic Zone and will build a new plant in Komorniki, in the Sroda Slaska municipality. The plant will produce, among other things, ERW (high-frequency welding) steel pipes for the automotive and machinery industries, the investor reports.
Korean Yulchon near Wroclaw. Amount of investment and start of production
Yulchon Poland's investment includes the construction of external infrastructure facilities and halls with roads, parking lots, as well as the acquisition and installation of machinery, machinery park equipment, equipment, apparatus, instruments, production hall equipment and offices.
Yulchon Poland's new plant in Komorniki near Wroclaw will cost more than PLN 100 million. The company plans to start production in the first quarter of 2025.
Yulchon Company of Korea. What do they do and where do they have production facilities?
Until now, the Yulchon company has only operated in Korea and Mexico, but now it is expanding its operations and debuting on the Polish market.
Yulchon manufactures parts for the automotive industry, such as bushings, steering columns, cylinders and outer tubes for car shock absorber, gas spring and oil lift; cylinders and outer tubes for car knuckle and clutch; tubes for car shaft, engine housing tubes, and hydraulic cylinders, etc.
Yulchon near Wroclaw. Key location and strategic decisions
The investor stresses that the new Yulchon plant near Wroclaw will allow it to serve European customers. - It will be a key location, strategic in attracting new customers and larger orders from existing partners in the growing automotive market, the company reports.
This will increase production capacity, allowing the company to respond to current demand for increased order volumes and the geographic dispersion of the parent company's supply chain.
Jaroslaw Ogrodnik, managing partner at law firm OSB LEGAL, representing the investor.
Yulchon's planned activities are among the Intelligent Specializations of Lower Silesia, according to the Lower Silesia Innovation Strategy 2030 Auto-Moto-Aero-Space.
The automotive industry dominates the areas of influence of the Legnicka Special Economic Zone. We are not stopping and are establishing another cooperation that will contribute to the development of this sector.
Przemyslaw Bozek, president of the Legnicka Special Economic Zone.
Another large Korean investment in the Wroclaw Agglomeration
The Yulchon plant is another large Korean investment in the Wroclaw Agglomeration. Recall that this year the Industrial Bank of Korea officially opened in the Sky Tower - one of the most important events in Polish-Korean relations.
Industrial Bank of Korea chose Wroclaw because, as the Koreans emphasize, the city is the largest industrial and logistics center in southern Poland. It is important for the Industrial Bank of Korea that Wroclaw is a new hub for electric vehicle battery production in Europe, and Korean companies such as LG Energy Solution and SK Innovation are here.
Wroclaw is where the largest Korean companies are investing, but along with them our small and medium-sized companies are investing here, and this is one of the most important reasons why we chose Wroclaw. The city's location in the center of Europe was also important to us, as this means great potential for further development.
Kim Seong-Tae president and director of IBK said at the opening.
Wroclaw on the list of the largest Korean investments in Europe
Wroclaw and the Wroclaw agglomeration have had strong business ties with South Korea for years through LG Energy Solution Wroclaw's investments. Recall that on April 13 this year, a partnership agreement between Wroclaw and Cheongju was signed. The LG Energy Solution Wroclaw concern originates from this city.
Every year, batteries for about 700,000 electric cars leave the LG Energy Solution factory near Wroclaw. All indications are that soon there will be up to a million of them a year.
In April 2023, we wrote on wroclaw.pl that South Korea's largest logistics company had opened a regional office in Wroclaw.
South Korea the largest Asian investor in Poland
Poland is betting heavily on economic cooperation with South Korea in the arms and energy sectors. Our army has signed three major arms contracts with the Koreans for the purchase of K9 howitzers, new FA-50 aircraft and K2 tanks.
The Koreans are also involved in the Patnow nuclear power plant project in Wielkopolska. The project in question is a joint project between the Polish Energy Group, the Korean concern KNHP and Zygmunt Solorz-controlled ZE PAK (a power plant complex Patnow-Adamow-Konin).