Bumchun builds its first plant abroad in Salgótarján - VIDEO REPORT

Bumchun builds its first plant abroad in Salgótarján - VIDEO REPORT

Lee Kee-Yeon, President, Bumchun Prescision

Bumchun chose Hungary for its first manufacturing plant outside South Korea, which will produce aluminium jacks for electric car batteries. The new unit, whose construction requires more than EUR 41 million, will create 200 new jobs with production starting in 2021.

South Korea-based Bumchun is well-known mainly for its precision audio system components used in earphones and in various audio components for mobile phones. Recently, however, the company's profile has been extended with the production of battery components for electric cars – first in Asia, and now with its latest investment in Europe. The 200 new jobs created in its Hungarian production plant will be an outstanding contribution to Bumchun's overall headcount of 650 employees.

The plant in Salgótarján, which will be built in the framework of a greenfield project of EUR 41 million, will further broaden the Hungarian range of activities in a sector that provides electric vehicles with batteries, since now suppliers, just like key manufacturers (such as Samsung SDI, SK Innovation and GS Yuasa), have opened to European locations for their production – and in this way, to Hungary. In 2019 Infineon, INZI Controls and Toray Group were just a few of those companies that decided to bring their electromobility related investments to our country on the continent.

Recent decades have seen Hungary build buoyant economic relations with South Korea, which made the Asian country become the most significant investor and job creator in Hungary in H1 2019, as projects managed by the Hungarian Investment Promotion Agency (HIPA) suggest.