The Investor
Vol. 50
As vacant space within the Busan Science & Industrial Park continues to fill up, the Busan-Jinhae Free Economic Zone Authority signed yet another Memorandum of Understanding with an American auto-parts company for an investment worth US $16 million.
Commissioner Soo-Man Chang and Busan city mayor Nam-Sik Hur signed the agreement with Visteon representatives on October 13 at
Visteon, based out of
“It is expected that their investment will greatly contribute to the local economy and further develop the regional auto and mechatronics industry,” Commissioner Chang said. “I promise Visteon our full-fledged service throughout the investment process as we will provide them with all the necessary support needed to make this investment a success.”
The company has a strong corporate history reporting $70 billion in sales for its supplied products. According to the MOU contents, Visteon has agreed to hire 170 or more new employees from the Busan area to work at its new facility.
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