Gyeongju Mayor Ju Nak-young poses for a group photo at the completion ceremony for Taeyoung Tech's Myeonggye factory. [Gyeongju City]
Gyeongju Mayor Ju Nak-young poses for a group photo at the completion ceremony for Taeyoung Tech's Myeonggye factory. [Gyeongju City]

Auto parts manufacturer Taeyoung Tech Co. has opened a new factory at the Myeonggye 3 General Industrial Complex in Naemnam-myeon, Gyeongju, North Gyeongsang Province.

The completion ceremony was held at the factory site Oct. 29, drawing about 200 attendees including Gyeongju Mayor Ju Nak-young, Gyeongju City Council Speaker Im Hwal, Gyeongju Chamber of Commerce and Industry Chairman Lee Sang-geol, city council members, company executives and employees, and local residents.

Taeyoung Tech signed an investment MOU with Gyeongju in July last year to build the new auto parts factory at a cost of 15.1 billion won ($11.3 million).

The completed factory sits on a 17,852-square-meter site within the Myeonggye 3 complex, with total investment of 15.1 billion won.

Key products include side door beams and center floor components — both critical vehicle safety parts — as well as automotive chassis, body and seat components, and battery cases for hybrid electric vehicles.

The factory is expected to create 46 new jobs while contributing to local economic revitalization and strengthening the competitiveness of the auto parts industry.

Alongside this, Taeyoung Tech has been selected for the city's "2026 Gyeongju Golden Enterprise" program, a small and medium-sized enterprise competitiveness initiative that will provide 45 million won in tailored business support over three years and a loan recommendation of up to 700 million won in Gyeongju SME operating funds over five years.

"We will use this factory opening as an opportunity to expand investment in workforce development and research and development, and grow as a company alongside the local community," said Kim Gwang-tae, chief executive of Taeyoung Tech.

Mayor Ju thanked Taeyoung Tech for committing to bold investment despite difficult economic conditions. "We will create an environment where businesses can invest with confidence and actively support the growth of local companies," he said.


kbj7653@heraldcorp.com