□ Busan Metropolitan City (Mayor Park Heong-joon) announced that today (18th) at 10:30 a.m. in the City Hall video conference room, it will sign investment memorandums of understanding with Sungwoo Hitech Co., Ltd. and Toss CX for a total investment of KRW 45.7 billion and the creation of 191 new jobs.
○ The signing ceremony will be attended by Mayor Park Heong-joon, Cho Seong-hyun, CEO of Sungwoo Hitech Co., Ltd., Lee Moon-yong, CEO of Sungwoo Hitech Co., Ltd., and Shin Dong-hoon, CEO of Toss CX.
□ Sungwoo Hitech Co., Ltd.: KRW 44.0 billion investment, 30 new jobs
The company will liquidate part of its Chinese operation and return to Korea to establish a KRW 44.0 billion production facility for future vehicle components in Jangan-eup, Gijang-gun. Through this, it will begin full-scale production of core components for the era of next-generation mobility and plans to hire 30 new employees.
○ Sungwoo Hitech Co., Ltd. is a leading local company in Busan and a global enterprise that has led the automotive body parts industry, supplying major components to automakers. It is an advanced automotive parts company with manufacturing technologies for lightweight and high-strength electric vehicle bodies and battery pack cases (BPC*).
○ In particular, based on its foundation in traditional manufacturing, Sungwoo Hitech has continuously innovated and is emerging as a world-class advanced component company optimized for the electric vehicle era. The company is expected to further strengthen its competitiveness in the global electrification market by positioning Busan as its core production base.
○ This investment is also expected to have positive ripple effects throughout Busan’s automotive industry ecosystem, including ▲mutual growth with local parts companies ▲the spread of advanced manufacturing technologies in the region ▲the creation of quality jobs.
* Battery Pack Case (BPC): A core electric vehicle component that requires high-strength materials and precise welding and forming technologies
□ Toss CX: KRW 1.7 billion investment, 161 new jobs
The company will invest KRW 1.7 billion to establish a next-generation finance consultation center based on big data in Centum City, Haeundae-gu. Through this, it will promote the advancement of customer consultation and the development of AI training data, and plans to hire 161 new local talents.
○ Toss CX is a financial consultation specialist subsidiary of Toss (Viva Republica), Korea’s leading fintech group, and has both financial expertise and brand understanding. This investment marks the beginning of establishing Toss CX’s strategic base in Busan and is expected to serve as a stepping stone for the nationwide expansion and enhancement of Toss and its affiliates’ financial and digital services.
○ As Toss, which has led financial innovation, expands its business to all areas of finance, the role of Toss CX, which is the first and most frequent point of contact with customers, is also rapidly expanding.
□ The city is focusing on fostering strategic industries such as future vehicles and digital finance, including the phased designation of Opportunity Development Zones. It will continue to actively and systematically attract future high-tech companies to secure sustainable new growth engines and to strengthen the regional industrial ecosystem and create quality jobs, thereby elevating Busan into a global innovation hub city.
□ Mayor Park Heong-joon said, “Despite the uncertainties in the international trade environment and the difficult domestic economic conditions, we are grateful to the two companies for deciding to make bold investments in Busan,” and added, “Busan will continue to actively support the creation of a city trusted and chosen by businesses.”
This content has been translated by AI. Please refer to the attached original Korean version for accuracy if needed.
Translated by AI
Link to Busan press releases in Korean