Autoliv Korea Celebrates the Construction of Production Plants
in Dongtan, Hwasung, Gyeonggi Province

Autoliv Korea, a company that is a world leader in automobile safety devices, held a ceremony to celebrate the third expansion of its Dongtan plant located in Hwasung for the production of automobile seatbelts and airbags on April 11, 11 a.m. at Hwasung City, a city that is soaring as a center of cutting-edge industry and culture.

At the ceremony, Kim Moon-soo, Governor of Gyeonggi Province said, “It is my hope that with this ceremony to celebrate the expansion of the Hwasung Dongtan Plant, Autoliv Korea will go beyond the boundaries of Korea and grow to be the world’s top company in the automobile safety device industry, and that this will serve as a flagship production base in Asia. The fact that a foreign company in a cutting-edge industry has invested in Gyeonggi Province proves that we are equipped with a business-friendly environment and a benign investment climate for foreign companies.”

Lee Sung-min, CEO of Autoliv Korea replied, “Through this ceremony, held to celebrate the third expansion of the plant at Dongtan, Hwasung, in addition to our revenue achievement of 400 billion won, and our goals of hiring 1,000 employees by 2010 and offering high quality products, Autoliv Korea will contribute considerably to revitalizing the local economy and creating jobs.”

Autoliv Korea has grown to be a model foreign investment company that greatly contributes to creating jobs in the local community through continuous construction of production lines, as can be seen by the fact that it is now has 600 local employees, compared to 50 in 2002 when it first established facilities.

.— to be continued