South Korea-based SeAH Group will invest $110 million to establish a high-performance metal manufacturing facility in Temple, Texas. The project will create more 100 new jobs in Central Texas. Governor Greg Abbott announced the project on July 9 during a press conference in Seoul.
“Texas has always been a fantastic partner in every aspect of our journey to the U.S.,” said SeAH Changwon Integrated Special Steel Co-CEO Junghoon “Jay” Lee. “The opportunities that the state offers will allow us to thrive in the fast-growing North American market. SeAH also strongly desires to become a great addition to the community of Texas.”
(Photo: Office of the Texas Governor | Greg Abbott)
SeAH Group specializes in steel products and has the largest capacity of special alloy production in South Korea. Its operations are also equipped with an integrated production system for the various materials and production range.
“Texas is the premier destination for business growth, which is why companies from across the globe continue to choose our state to expand their operations,” said Gov. Abbott. “SeAH Group’s $110 million investment in Temple is a testament to the unique and unmatched business opportunities the Lone Star State has to offer businesses. I look forward to welcoming SeAH group’s new manufacturing facility to Texas and continuing to work with them to bring even more investments and jobs to our state.”
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Gov. Abbott was joined at the announcement by SeAH Superalloy Technologies CEO Michael King and other SeAH Group executives, the Governor’s Economic Development & Tourism Office Executive Director Adriana Cruz, Texas Economic Development Corporation Board Secretary and President of Temple Economic Development Corporation Adrian Cannady, and other business and community leaders from Temple.
Over the last decade, South Korea leads all nations for foreign direct investment by amount of total capital investment in Texas. Through 2023, companies from South Korea have invested $20.59 billion in 38 projects creating more than 7,000 jobs in Texas. In the first five months of 2024, South Korean companies have invested $27.52 billion in nine additional projects expected to create more than 4,800 new jobs in the state. Texas trade with South Korea totaled $32 billion in 2023, making South Korea the fourth-largest total trade partner with Texas.
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