Gwangju Global Motors
Native name | 광주글로벌모터스 |
|---|---|
| Company type | Joint venture |
| Industry | Automotive |
| Founded | 2019[1] |
| Headquarters | Gwangju, South Korea |
Key people | Park Gwang-tae (CEO) |
| Owner | Gwangju Metropolitan Government (21%) Hyundai Motor Company (19%)[2] |
| Website | www.ggmotors.com |
Gwangju Global Motors Co. Ltd. (GGM) is a joint venture manufacturing plant between Hyundai Motor Company and the Gwangju city government. Opened in 2021, it is the first new automobile manufacturing plant in South Korea since 1998.
History
[edit ]The first model produced by the plant, the Hyundai Casper rolled off of GGM’s production line in September 2021.[3] [4] The plant have the capacity to produce 70,000 vehicles a year.[5] It is the only Hyundai-operated manufacturing plant in South Korea without the presence of workers unions, which enables average annual pay to be less than half than other Hyundai plants.[6]
Gwangju Metropolitan Government is the largest shareholder with an investment of 48.3 billion won (21 percent stake). Hyundai Motor Company, which invested 43.7 billion won, is the second-largest shareholder (19 percent). Of the total project cost of 575.4 billion won, the remaining 60% (345.4 billion won) excluding equity capital of 230 billion won was drawn up from the financial sector.[7]
Current models
[edit ]- Hyundai Casper (2021–present)
- Hyundai Casper Electric / Inster (2024–present)
External links
[edit ]- Official website (in Korean)
References
[edit ]- ^ "Gwangju project is off to an inauspicious start". Korea JoongAng Daily . 26 December 2019. Retrieved 2021年07月17日.
- ^ "Stranded Gwangju job project distresses Hyundai". The Korea Times . 2020年04月23日. Retrieved 2021年07月17日.
- ^ "GGM, Korea's first car plant in decades, completed". Korea JoongAng Daily . 29 April 2021. Retrieved 2021年07月17日.
- ^ "Remarks by President Moon Jae-in at Dedication Ceremony of Gwangju Global Motors' Plant". english1.president.go.kr. Retrieved 2021年07月17日.
- ^ "Moon visits new car factory in Gwangju". The Korea Times . 2021年04月29日. Retrieved 2021年07月17日.
- ^ "South Korea's first auto plant in 23 years opens as 'half-wage factory'". Nikkei Asia . Retrieved 2022年01月20日.
- ^ "3500억 조달 '빨간불'...광주글로벌모터스, 하반기 공사 중단 우려" ['Red light' to raise 350 billion won... Gwangju Global Motors fears that construction will be suspended in the second half of the year]. The Korea Economic Daily (in Korean). 2020年04月22日. Retrieved 2021年07月17日.
