- Korean automotive supplier to invest $40 million, create more than 100 new jobs
- Company has purchased the former Alo Tennessee building in Telford
TELFORD, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Sungwoo Hitech officials announced today that the company will invest $40 million to locate its first U.S. manufacturing operations, Sungwoo Hitech America Corp, in Telford.
Sungwoo Hitech America, a Korean automotive supplier, has purchased the former Alo Tennessee building in the Washington County Industrial Park, where the company will create 117 new jobs.
Sungwoo Hitech manufactures metal stamped components for the automotive industry. The company’s Telford facility will produce bumpers, rear components and side framing for customers including General Motors, Hyundai, Kia, Volkswagen and BMW. Renovations on the 380,000-square-foot facility are underway and manufacturing is slated to begin in early 2022.
Founded in 1977 and headquartered in Seoul, Korea, Sungwoo Hitech employs nearly 18,000 people across 26 facilities in 10 countries around the globe.
Over the last five years, TNECD has supported 40 economic development projects in Northeast Tennessee, accounting for 3,350 job commitments and more than $1 billion in capital investment.
“We welcome Sungwoo Hitech America to Tennessee and appreciate the company’s decision to call Washington County home to its first U.S. manufacturing operations. This $40 million investment will bolster our state’s reputation as a leader in automotive manufacturing while providing nearly 120 job opportunities in Northeast Tennessee.” – Gov. Bill Lee
“South Korean companies employ nearly 3,500 Tennesseans, and of that, more than 1,000 are employed in the manufacturing industry. We want to thank the Sungwoo Hitech America for choosing to locate in Telford and congratulate the company for becoming the first Korean-owned manufacturing facility in Washington County.” – TNECD Commissioner Bob Rolfe
“Sungwoo Hitech has experienced significant growth, and we are excited to now bring our first production facility to the U.S., in particular, Washington County, Tennessee. The support that we have received from the local, county and state government and from many others has been astounding. This is our first plant in the United States, but we see this as a steppingstone for future growth. We plan to invest and grow in this region and make a positive impact to the community.” – Suk Je Lee, CEO, president, Sungwoo Hitech America
“This is an historic day for creating new manufacturing jobs for Washington County and our region. I want to thank Governor Bill Lee, TNECD Commissioner Bob Rolfe, Mr. Myung-Keun Lee, chairman and CEO of Sungwoo Hitech, and our Washington County commissioners for making today possible.” – Washington County Mayor Joe Grandy
“TVA and BrightRidge, congratulate Sungwoo Hitech on its decision to locate operations in Washington County. Helping to attract and retain job opportunities and investment to the Valley is fundamental to TVA’s mission of service. We are proud to partner with Northeast Tennessee Regional Economic Partnership, Town of Jonesborough, Washington County, and Tennessee Department of Economic and Community Development to help further that mission and celebrate this announcement together.” – John Bradley, TVA senior vice president of Economic Development
“I am pleased that Sungwoo Hitech has chosen to locate a new manufacturing project in Washington County. This company plays an important role in the supply of automotive parts, and I congratulate Sungwoo Hitech on their new project. These 117 jobs and $40 million investment will also be a boost to the local economy. I appreciate the work of state and local officials for securing this investment.” – Sen. Rusty Crowe (R-Johnson City)
“This expansion will grow our automotive manufacturing workforce and bring a range of new jobs and opportunities for local residents. We appreciate all the hard work by Governor Lee, Commissioner Rolfe, and our local leaders who helped bring these jobs home to Washington County. I look forward to continuing to partner with them to bring more jobs that will make our local economy even stronger.” – Rep. Rebecca Alexander (R-Jonesborough)
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter and Instagram: @tnecd. Like us on Facebook: facebook.com/tnecd.
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