GROWTH PLANS

Since starting its Auburn facility in 2019, Shinhwa has steadily grown to meet the needs of the automotive industry in the U.S. including vertically integrating elements of its supply chain and increasing capacity to support both electric and combustion engine vehicle manufacturing.

The Auburn facility supplies parts to Hyundai’s assembly plant in Montgomery and Kia’s plant in West Point, Georgia.

“This new facility will give us greater capacity for aluminum automotive parts, including both die casting and machining operations, allowing us to further diversify our customer base,” said Kwi Hyun Lee, founder and CEO of the Shinhwa Group.

“This increased capacity will give us the ability to provide greater support for the electric vehicle market here in the U.S.”

This is the second substantial expansion launched by Shinhwa since beginning operations in Auburn three years ago. In November 2021, the company announced the addition of high-pressure aluminum die casting and post-processing equipment through a $42 million expansion project.

“Alabama has become a key player in the evolving global automotive industry, and Shinhwa’s continued growth in Auburn illustrates how our industry is preparing for the future,” said Greg Canfield, Secretary of the Alabama Department of Commerce.

“We look forward to working with the company to support its expansion plans and fully develop the growth potential of its Auburn manufacturing operation.”

Mayor Ron Anders said Shinhwa’s latest expansion will bolster Auburn’s advanced manufacturing sector.

“We’re thrilled to see the success and growth Shinhwa has experienced in a few short years here in Auburn,” Anders said.

“The company has been a great addition to our high-tech manufacturing base, and we look forward to seeing Shinhwa’s impact grow along with its footprint.”