KORYO CABLE Co., Ltd., Daegu's first so-called 'reshoring' company — having ventured overseas and returned home to establish new roots — has completed the relocation of its Daegu headquarters. With additional R&D personnel being recruited, the company is fully prepared to make its leap as an energy-specialized enterprise.

The cable manufacturer held a completion ceremony for its Seongeo Plant (Hosandong, Dalseo-gu) at Daegu Seongeo 3rd Industrial Complex on the 29th. The newly built Seongeo Plant is approximately 1.5 times the size of the existing headquarters and factory located in Seodaegu Industrial Complex in Seo-gu, with a site area of approximately 26,670㎡ (8,070 pyeong). KORYO CABLE invested ₩60 billion to construct the new factory and a new 7-story headquarters building. The existing factory and headquarters in Seodaegu Industrial Complex are set to be phased out.

In 2018, KORYO CABLE became the first in Korea's wire and cable industry to establish a production facility in Myanmar, producing eco-friendly cables and more at an annual capacity of 10,000 tons. Although the company decided to return to Daegu in 2021, the existing Myanmar factory will continue operations as a strategic base for expanding into the Southeast Asian market.

KORYO CABLE was first established in Daehyeon-dong, Buk-gu, Daegu in 1964, before relocating to Ihyeon-dong, Seo-gu in 1978. This latest move to Seongeo Industrial Complex marks the company's first headquarters relocation in 45 years.

The relocation was driven by the aging and limited space of the Ihyeon-dong facility. A larger site was needed to develop new products and expand the product portfolio, along with an additional investment of ₩20 billion. The city of Daegu played a significant role in enabling this new investment and production line rationalization. A KORYO CABLE representative noted that "the company received full support from the city of Daegu in the process of acquiring the western portion of two non-operating sites at STX Heavy Industries' Daegu plant as part of the investment agreement."

As Daegu's symbolic first reshoring company, KORYO CABLE plans to accelerate the development of new technologies and products in line with the carbon-neutral era. As grids — the lines and systems for electricity supply — diversify to include solar and submarine cables, the company sees the need to develop new materials to efficiently support these systems. The newly built factory is currently in trial operation with final administrative procedures such as completion approval underway, and full-scale production is expected to commence shortly. Staffing plans are also in progress: currently 67 employees are on board, with plans to hire an additional 10 research and 10 production staff within the year for carbon-neutral new product development and manufacturing.

CEO Jung Yong-ho stated, "We will do our utmost to achieve a second leap as an energy-specialized enterprise at our new home in Seongeo Industrial Complex, and contribute to the development of the region. We will firmly lay the groundwork to evolve beyond a wire manufacturer into a company that covers the full spectrum of energy."