Governor of Gyeonggi Province, Hak-kyu Sohn finished his successful visit on consulting with the Borg-Warner Cooperation in the US about additional investment on the 28th of June. Sohn then visited European regions and confirmed the final settlement of the plant construction in Gyeonggi-do and contracted a resident contract with Dr. Floeck Gerhard, President of the German Witzenmann.

Witzenmann contracted to build a factory that will manufacture metal bellows, an automobile part, on a building site of 13,000㎡ within the Eoyeon-Hansan Industrial Complex in Pyongtaek and also settled to invest about 12 million dollars until late this year.

This contract with Witzenmann has been arranged one year after Witzenmann Korea initially expressed interest of moving in the exclusive industrial complex for foreign investment companies, June last year. Witzenmann also exports its products to Japan and China, so the final candidates for the factory-building site were squared down to Korea, China and Japan. After a thorough consideration, the building site finally had been decided to be Gyeonggi-do, Korea.

In addition, president Gerhard explained in a meeting about future business plans in Korea that Witzenmann Korea will be the Asian headquarters generalizing China, Japan, Thailand and Taiwan, and also the core base combining production, procurement and R&D.

A Gyeonggi-do official said that the province will continuously make efforts on managing Gyeonggi-do to build the Witzenmann Asian R&D Center and for additional investments on expansion joints and metal hose parts, each supplied over 700 million and 160 million annually to Hyundai and Kia Motors, in addition to the bellows factory settled for construction. The Witzenmann investment will evoke German enterprises related with automobile parts to take interest to the investment environment of Gyeonggi-do.