German-funded igus builds new high-tech parts manufacturing center in Songdo, etc.

German-funded igus Korea builds new high-tech parts manufacturing center in Songdo

The igus center will serve the global company’s new business of manufacturing and developing high-tech parts. With this, the IFEZ has further elevated its stature as a core-leading base for Fourth Industries.

New igus Korea Building

· Location : Knowledge and Information Industrial Complex, Songdo, 42 Venture-ro, 12-beon-gil, Yeonsu-gu
· Site : 9,498,90 m2
· Total : Project Cos KRW 14 billion

Since its construction completion ceremony on December 13, 2019, the new igus Korea building has been in active operation. igus Korea was established in 2001 based on 100% investment by German igus GmbH, as a foreign-invested corporation. Through igus Korea, expectations are high not only for reinforced technological competitiveness in future core parts of the IFEZ but also for replacement of imports, increased exports, and job creation through domestic manufacturing and sales. igus GmbH is a multinational corporation with its headquarters based in Köln, Germany, and affiliates in 35 countries, including the USA, China, Japan, and the UK. It produces motion plastics based on special engineering polymer materials, with its key items being energy chains, cables, and bearings. igus Korea’s main business lines also include manufacturing and developing on-demand motion plastic products. Motion plastics are high-functioning plastics optimized for kinetic applications — high-tech parts characterized by their longevity and low maintenance costs. While remaining relatively unknown to the general public, the German igus Group has maintained solid positioning and fame for its long-term prospects, professional products, and customer-friendly features. The group was recognized in 2012 for its corporate soundness and original products when it was chosen as a German Hidden Champion.

Gyeongwonjae Ambassador
Incheon honored with
Grand Prize

Korea’s only five-star hanok hotel, Gyeongwonjae Ambassador Incheon Accor, won the Grand Prize in the 2019 Consumer Satisfaction Awards.


“This hotel will be a tourist attraction beyond a hotel embracing tradition and culture that lives together with the local community.”

In the 2019 Consumer Satisfaction Awards, a hanok hotel in Songdo, Gyeongwonjae Ambassador Incheon Accor, won the honor of the Grand Prize. Boasting the antique exterior beauty of Korean architecture, created by masters of hanok, Gyeongwonjae Ambassador Incheon Accor manages to achieve harmony with its interior’s modern convenience while offering sophisticated hotel services. It is apprised for upholding the Korean cultural tradition of valuing visitors with courteous and hearty hospitality into its ‘standards of servicing’. The hotel has also continually conducted service for the local community by hosting Korean traditional cultural events and extending invitations to socially isolated members. Sponsored by a non-profit consumers’ group, Korea Consumer Rights Solidarity, the Consumer Satisfaction Awards recognize companies annually to highlight businesses, products, customer service satisfaction, social contributions, and responsibility, based on the findings of a panel of judges consisting of both consumers and professional judges.

IPA signed MOU with SF Marina-
MEC Consortium for the
development of the Golden Harbor

As part of the Swedish economic envoy visiting Korea on the 60th anniversary of Korea-Sweden diplomatic relations, SF Marina-MEC Consortium signed an MOU with the Incheon Port Authority (IPA) at the ‘KOREA-SWEDEN BUSINESS SUMMIT,’ held at Lotte Signiel Seoul on December 18, 2019. Based in Sweden, the SF Marina group is a marina-development specialized company with 100 years of tradition, retaining global marine culture tourism content. The consortium, with its approximate investment valued at USD 5 billion, was joined by Filipino constructor MEC. The consortium’s plan includes not only marina-development, a main project for the Golden Harbor, but also its subsidiary facilities, such as resorts, hotels, shopping malls, etc. The IPA plans further contracts with other investment companies and investors through MOUs that match the standards of those of SF Marina-MEC Consortium, giving impetus to potential investors for successful development of the Golden Harbor.

Huneed Technologies adds strength
to the digitalized military power of
Koreas military forces

With investment from The Boeing Company, USA, Huneed Technologies, housed in the Knowledge & Information Industrial Complex, signed an agreement with Defense Acquisition Program Administration (DAPA) on December 26, 2019, for the third round of mass-production of its High Capacity Trunk Radio System (HCTRS) for the next-generation TICN project. This contracted sum amounts to a total of KRW 318.1 billion, or some 122% of its total sales for 2018. Huneed Technologies has already shown remarkable performances in wrapping up its digitalized military empowerment of the three army corps, the Marine Corps, and Air Force, completing the second round of production in November 2019, following the first production of HCTRS in 2016. HCTRS is a data transmission system over 10 times as fast as its predecessor. When its production is completed, the Korean military is expected to transmit field situations to command through imaging. HCTRS’s digitalized military empowerment will continue until 2022.

“IPA will do its best to make 2020 the first year of the Golden Harbor development by actively attracting investment.”

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