Acquiring the former Dongwoo Fine-Chem Palbong plant to build automotive seat belt production facilities Creating over 100 jobs, including 34 direct hires and partner company personnel

A former Dongwoo Fine-Chem factory in Iksan, which had suspended operations for 10 years, is transforming into an automotive seat belt production plant.

On the 28th, Jeonbuk Special Self-Governing Province announced that it had signed an investment agreement worth 72.7 billion KRW for the establishment of the automotive seat belt manufacturing plant with Iksan City and Wooshin Safety Systems Co., Ltd. at the Provincial Office.

The signing ceremony was attended by Jeonbuk Special Self-Governing Governor Lee Won-taek, Iksan Mayor Choi Jeong-ho, and Wooshin Safety Systems CEO Huh Woo-young.

Under the agreement, Wooshin Safety Systems will invest a total of 72.7 billion KRW from 2026 to 2029 on a 40,578-square-meter site at the former Dongwoo Fine-Chem Palbong plant within the Iksan 2nd General Industrial Complex. The company plans to acquire, remodel the existing site and buildings, and newly establish production facilities for retractors and buckles, which are core components of seat belt systems.

The target site, the former Dongwoo Fine-Chem Palbong plant, was a facility that produced polarizing films for LCDs and had remained idle since halting operations in September 2016. Wooshin Safety Systems plans to build production facilities there and begin manufacturing products in February 2027.

The direct employment plan associated with this investment is 34 people, and including personnel from partner companies, the number of employees working at the Iksan plant is projected to exceed 100.

Wooshin Safety Systems is a company that supplies seat belt systems to domestic and global automakers, including Hyundai Motor, Kia, GM, and Ford. In response to increasing order volumes, the company plans to foster the Iksan plant as a core domestic hub for producing export goods bound for North America.

The province expects this investment to enhance the utilization of idle industrial facilities, expand the local production and employment base, and serve as an opportunity to broaden the participation of Jeonbuk's automotive parts industry in the global supply chain.

Jeonbuk Special Self-Governing Governor Lee Won-taek stated, "Lights will turn on again in a factory that has been stopped for 10 years, and seat belts made in Iksan will be installed in cars on American roads," adding, "The province will actively support this investment so that it is implemented without disruption and leads to additional investments."

Meanwhile, Wooshin Safety Systems is a wholly-owned subsidiary of Wooshin Systems Co., Ltd. (listed on the KOSPI market), a specialized automotive automation equipment company. Wooshin Safety Systems recorded sales of 193.2 billion KRW in 2025 and operates production and research subsidiaries in the United States, Mexico, and China.