The grand foundation stone of International International Auto Parts City and Korea Auto Parts Mining Base
Recently, a grand groundbreaking ceremony was held in the Funing Development Zone for a major investment of 320 million yuan into the Wanguo International Auto Parts City and the South Korea Auto Parts Mining Base. This milestone marks a significant step forward in strengthening regional economic cooperation and boosting the auto parts industry.
The Wanguo International Auto Parts City project was jointly introduced by the Funing Development Zone and Luoqiao Town in Mianning County. The first phase of the project involves an investment of 320 million yuan and includes the development of eight auto parts markets. Once fully operational, the city is expected to generate annual sales of over one billion yuan. It is also anticipated to create employment opportunities for more than 3,000 people. With the ongoing expansion of the Dongfeng Yueda Kia production base in Yancheng, the project is set to attract hundreds of South Korean auto parts manufacturers, ultimately establishing a major hub for Korean automotive parts production in China and even globally.
Suining Wanguo Auto Parts City is positioning itself as a key player in the Korean auto parts wholesale market, leveraging this strategic opportunity. Currently, the project has already reached intention agreements with over 60 companies, signaling strong interest and confidence from potential partners. This development not only strengthens the local economy but also enhances the region's role in the international automotive supply chain. As the project progresses, it is expected to bring long-term benefits to both the local community and the broader automotive industry.
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