HS Hwasung is moving forward with a significant investment in San Luis Potosí, Mexico, as part of its strategy to expand its global advanced materials business, focusing on North America.
On September 25, during a visit by a South Korean-Mexican economic delegation, HS Hwasung signed a memorandum of understanding (MOU) with the government of San Luis Potosí at the World Trade Center in Mexico City. The agreement aims to facilitate large-scale local investments.
Attendees at the MOU signing included Marcelo Ebrard, Mexico's Minister of Economy, and Mario García Valdez, the Secretary of Economic Development for San Luis Potosí.
Under this agreement, HS Hwasung plans to initiate substantial production base investments in Mexico starting in 2027. The company also held a separate meeting with Minister Ebrard to discuss local investment plans and future business expansion strategies.
Specifically, HS Hwasung intends to gradually increase investments in San Luis Potosí to establish a production hub for advanced materials, strengthening its production and supply capabilities for the North American and global markets.
Seong Nak-yang, CEO of HS Hwasung Advanced Materials, stated, "This investment is a strategy to develop Mexico into a key outpost connecting North America and the global market, rather than just a production base. We aim to contribute to the local industrial ecosystem by enhancing the local supply chain and creating jobs."
HS Hwasung produces advanced materials across various sectors, including tire cords, mobility, energy, aerospace, and defense. The company supplies tire cords, airbags, and mobility interiors to major global firms such as GM and Goodyear, thereby contributing to a stable global supply chain.
* This article has been translated by AI.
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