Officials pose for a photo after Yeongcheon city and Gyeongjin Machinery sign an investment MOU at the city hall video conference room on Tuesday. [Yeongcheon city]
Officials pose for a photo after Yeongcheon city and Gyeongjin Machinery sign an investment MOU at the city hall video conference room on Tuesday. [Yeongcheon city]

Yeongcheon city in North Gyeongsang Province signed an investment MOU with automotive parts maker Gyeongjin Machinery at the city hall video conference room on Tuesday.

Under the agreement, Gyeongjin Machinery plans to invest 9.2 billion won ($6.96 million) by 2028 to expand a production facility for electric vehicle and hybrid vehicle parts on a 7,838-square-meter site in Chaeshin-dong, Yeongcheon, and create 26 new jobs.

Gyeongjin Machinery, headquartered in Dalseo-gu, Daegu, supplies automotive parts to major industry players including SL, Kyungchang Industrial and Capec Valeo, and posted sales of 23.6 billion won in 2025.

The company has been expanding into electric vehicle and hybrid vehicle components in line with the broader electrification trend in the automotive industry, and aims to strengthen its production capabilities for future vehicle parts through this investment.

"We will use this investment in Yeongcheon as an opportunity to sharpen our competitiveness in future vehicle parts and further build our growth foundation through continuous technology development and quality improvement," said Jeong Myeong-ho, chief executive of Gyeongjin Machinery.

Yeongcheon Mayor Kim Byeong-sam said he hopes the investment will contribute to the development of the local automotive parts industry and job creation, adding that the city will continue to provide active administrative support to help companies invest and grow with stability.


kbj7653@heraldcorp.com