A South Korean maker of automotive parts will open a manufacturing plant in Henry County, investing $18.9 million and creating 60 new jobs, the governor’s office said Thursday.
Fukoku Korea will set up shop in an existing shell building in the county’s Patriot Centre Industrial Park. It will make rubber damper pulleys, which help reduce noise in vehicle engines, and thermal gap fillers, which help manage heat in electric-vehicle batteries.
“Fukoku Korea’s investment should serve as an example for all international companies: Virginia is ready to help you establish, grow, and succeed in the U.S. market,” Gov. Abigail Spanberger said in a news release.
The plant will begin operations in January, according to a separate news release from the company.
“This investment marks an important step in our long-term growth strategy and strengthens our commitment to serving our automotive customers in North America,” Fukoku Korea CEO Ikjun Kwon said in Spanberger’s news release.
Spanberger approved a $500,000 state grant for the project. The company will be eligible for assistance from a state employee-training program.
Fukoku Korea, a subsidiary of Japan-based Fukoku Co. Ltd., was founded in 1987. It makes automotive components, specializing in rubber-based parts to reduce noise and vibration, according to the governor’s release.
It supplies brands including Hyundai, General Motors and Ford. To support the Henry County investment, the company has established a new business entity for the U.S. market, FKC America.
The Henry County plant will mark Fukoku’s first investment in Virginia. In 2001, Fukoku Co. Ltd. opened its first U.S. facility, Fukoku America, a production company in South Carolina.
“Our community has long held a deep appreciation and love for cars and the automotive industry, so we are especially proud to welcome a company that produces critical engine components to Henry County,” Henry County Board of Supervisors Chairman Jim Adams said in Spanberger’s release.
