KORYO CABLE Co., Ltd., Daegu's first 'reshoring' company, is set to hold the completion ceremony for its Seongeo Plant.

The cable manufacturer announced on the 25th that it will hold the Seongeo Plant completion ceremony on the 29th in Hosandong, Dalseo-gu, Daegu. KORYO CABLE invested ₩60 billion to construct the Seongeo Plant and a new 7-story headquarters building on a 26,670㎡ (approximately 8,000 pyeong) site at Seongeo 3rd Industrial Complex — approximately 1.5 times the size of its existing headquarters and factory in Seodaegu Industrial Complex. The site was purchased from STX Heavy Industries in 2021.

Alongside the completion of the Seongeo Plant, KORYO CABLE has carried out approximately ₩20 billion in new equipment investment and production line rationalization, laying the groundwork for the production of new and high-value-added products in line with the carbon-neutral era.

As Daegu's first reshoring company, KORYO CABLE signed an investment agreement with the city of Daegu in August 2021. With the city's active support and consulting, the company successfully completed the plant construction even through difficult times.

CEO Jung Yong-ho stated, "KORYO CABLE was first established in Daehyeon-dong, Buk-gu in 1964 and expanded to Ihyeon-dong, Seo-gu in 1978. We will achieve a second leap as an energy-specialized enterprise at our new home in Seongeo Industrial Complex and contribute to regional development."

Source: Maeil Shinmun (imaeil.com)