On October 21^st, Pacific X Auto Corporation had an MoU signing ceremony to establish an automotive components factory in the Daegu Technopolis District, with Gun-woo Do, DGFEZA commissioner, and Yeon-chang Kim, Daegu City deputy mayor for economic affairs, in attendance. This MoU proves that the Daegu-Gyeongbuk region as one of the best locations for the automotive industry. Pacific X Auto Corporation, an automotive parts company based in California, USA, had also signed an MoU in August with Hanho Innovation to establish an automotive transmission factory in the Yeongcheon Industry District.
 
Pacific X Auto Corporation will establish a JV company with J-Tech, an automotive and machine components company, and set up a new factory to produce transmission components on a 13,200㎡ site in the Daegu Technopolis District. The company will invest USD 14 million, hire 63 employees, and aim to reach annual sales amounting to USD 18.6 million. All the products will be exported to the U.S. to supply various global auto parts companies, including ZF, DANA, and SPX.
 
Gun-woo Do, the DGFEZA commissioner, said, “DGFEZA has achieved desirable results after it concentrated its efforts to reach its goals in the past year. Rather than rest on current achievements, DGFEZA will continue to do its best to keep the Daegu-Gyeongbuk region attractive to domestic and foreign investors.”