A ceremony marks the completion of Ajin Industrial's Hayang factory. [Daegu-North Gyeongsang Province Free Economic Zone Authority]
A ceremony marks the completion of Ajin Industrial's Hayang factory. [Daegu-North Gyeongsang Province Free Economic Zone Authority]

The Daegu-North Gyeongsang Province Free Economic Zone Authority (DGFEZ) and Ajin Industrial Co. held a completion ceremony Wednesday at the company's new factory in the Gyeongsan Knowledge Industry District, marking the conclusion of a reshoring investment project.

Attendees included DGFEZ acting director Kang Sang-gi, Ajin Industrial CEO Seo Jung-ho, North Gyeongsang Province Deputy Governor for Economy Yang Geum-hee, Gyeongsan Mayor Jo Hyeon-il, and a range of regional political, administrative, education, religious and business figures.

Ajin Industrial specializes in automotive body components and is a key supplier to South Korea's finished-vehicle industry, including Hyundai Motor Co.

The company had operated production bases overseas, including in China, but decided in 2024 to reshore its investment to get ahead of global supply chain realignment and strengthen its manufacturing competitiveness.

The newly completed factory sits on a roughly 96,000-square-meter (29,000 pyeong; 1 pyeong equals 3.3 square meters) site. A total investment of 250 billion won (about $164 million) went toward building production facilities for pressed body components and body assembly parts for automobiles.

The investment is being recognized as a model reshoring success story, combining the Ministry of Trade, Industry and Energy's support policy for returning companies with active investment attraction and administrative backing from North Gyeongsang Province, Gyeongsan and DGFEZ.

"We will devote all our efforts to creating the best possible environment for business and attracting additional reshoring companies and future-industry firms," DGFEZ acting director Kang said.


kbj7653@heraldcorp.com