Sejong Industrial

Sejong Industrial, through its subsidiary Sejong EV, signed an investment agreement with Chungju City to build a production facility for metal separators used in hydrogen fuel cell stacks at the Chungju Advanced Industrial Complex. The facility will cover 39,000 square meters and create about 250 new jobs, with production starting by year-end.

Mobius (MOBYUS CO., LTD) announced the merger with SCM/logistics consulting firm Value Chain CNT on October 8, 2019, to become a comprehensive logistics automation solution company. Sejong Industrial increased its stake to 52.4% to become the largest shareholder of the merged entity.

MS Autotech, a Hyundai Motor first-tier supplier, will buy the closed GM Korea plant in Gunsan, South Korea, for 113 billion won ($99.3 million) to run a contract manufacturing business for electric vehicles. The deal will close June 29, 2019. A consortium including Sejong Industrial and Future Mobility (Byton) will invest an additional 300 billion won to produce 50,000 EVs in 2021, rising to 150,000 by 2025.