Governor Ivey Announces Auto Supplier Shinhwa Investing $78 million in Second Auburn Facility, Creating 42 Jobs

URLhttps://governor.alabama.gov/newsroom/2022/05/gove
SourceThe Office of Alabama Governor
Date Published05/17/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Shinhwa U.S. Auto Corp.
Parent companyShinhwa Group
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):42
What product(s) and/or service(s) were outsourced domestically?Manufacturing
Year reshoring announced:2022
Domestically, the work will be done:In-house
Capital investment ($):78
Country(ies) from which reshored:Korea, Republic of
City reshored to:Auburn
State(s) reshored to:AL
If relevant, work nearshored to:-
Industry(ies):Castings/Foundries - Subset of Primary Metal Products, Fabricated Metal Products, Primary Metal Products (not including Foundries and Castings), Transportation Equipment
Product(s) reshoredauto parts
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
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