Sungwoo Hitech will invest $40 million to locate its first U.S. manufacturing operations, Sungwoo Hitech America Corp., in Telford, TN. The Korean automotive supplier has purchased the former Alo Tennessee building in the Washington County Industrial Park, where it will create 117 new jobs.
“Sungwoo Hitech has experienced significant growth, and we are excited to now bring our first production facility to the U.S., in particular, Washington County, Tennessee,” said Suk Je Lee, CEO, president, Sungwoo Hitech America. “The support that we have received from the local, county and state government and from many others has been astounding. This is our first plant in the United States, but we see this as a steppingstone for future growth. We plan to invest and grow in this region and make a positive impact to the community.”
Sungwoo Hitech manufactures metal stamped components for the automotive industry. The company’s Telford facility will produce bumpers, rear components and side framing for customers including General Motors, Hyundai, Kia, Volkswagen and BMW. Renovations on the 380,000-square-foot facility are underway and manufacturing is slated to begin in early 2022.
Founded in 1977 and headquartered in Seoul, Korea, the company employs nearly 18,000 people across 26 facilities in 10 countries around the globe.
“We welcome Sungwoo Hitech America to Tennessee and appreciate the company’s decision to call Washington County home to its first U.S. manufacturing operations,” said Governor Bill Lee. “This $40 million investment will bolster our state’s reputation as a leader in automotive manufacturing while providing nearly 120 job opportunities in Northeast Tennessee.”
Over the last five years, the Tennessee Department of Economic and Community Development (TNECD) has supported 40 economic development projects in Northeast Tennessee, accounting for 3,350 job commitments and more than $1 billion in capital investment.
“South Korean companies employ nearly 3,500 Tennesseans, and of that, more than 1,000 are employed in the manufacturing industry,” said TNECD Commissioner Bob Rolfe. “We want to thank the Sungwoo Hitech America for choosing to locate in Telford and congratulate the company for becoming the first Korean-owned manufacturing facility in Washington County.”
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