MCNEX Co., Ltd. Agreed to move the headquarter and its research institute, by early next year
Last 15th, Incheon Metropolitan City made a business agreement with MCNEX Co., Ltd. who are leading the autonomous driving technology and joined the 1 trillion sales club.The business deal was on promoting investment in the Incheon Free Economic Zone and development cooperation for the Incheon’s future automobile parts industry.
This agreement is to move the MCNEX company which is currently located in the Gasan Digital Complex in Geumcheon-guin Seoul to the Incheon Free Economic Zone, and encourage development of future automobile parts industry in Incheon through Autonomous Driving Technology R&D cooperation etc. It is anticipated that it can create quality jobs for younger generation by advantage in employment of the Incheon citizens and boost the local economy.
▲ MCNEX. Park Namchoon, mayor of Incheon Metropolitan City is meeting with Dong-Wook Min, representative of MCNEX at the ‘Business Agreement Ceremony for Investment promotion between Incheon Metropolitan City and MCNEX’. The meeting took place at the city hall reception room on the last 15th.
The mayor ParkNamchoon expressed gratitude to MCNEX, a global company which is recognized for the technology around the world, for agreeing to invest in Song-do of Incheon.He said he is anticipating it will help development of the future automobile parts industry in Incheon, and asked to do their best to help establish the future automobile business as the core business in Incheon Metropolitan City.
For this investment agreement, MCNEX is going to move the headquarters and research institute located in Seoul to Incheon Free Economic Zone (Zone 7) until the end of the year, and extend the Autonomous Driving Technology business through advancement of the Autonomous Driving Technology etc.
MCNEX is a leading company in Autonomous Driving Technology who develops and produces image sensing autonomous driving system including electronic units such as mobile camera module, biometric sensor and camera for vehicles. They are a KOSPI listed company who achieved KRW1.3 trillion, in 2020.
In particular, they have the 1st largest nationally, and the 5th largest market share in the camera for vehicles that are used in the autonomous driving technology. They are also becoming distinguished in the biometric technology sensor field.
Also, they are focusing on advancing the autonomous driving technology through actively investing in R&D and participate in national research projects for development of autonomous driving vehicle core technology.
▲ Promotion image from MCNEX Co., Ltd(Autonomous Driving Vehicle –provided by MCNEX)
Dong-Wook Min, representative of MCNEX mentioned that Incheon is a good place to extend the business by increasing infrastructure where it is becoming the center of future industry such as biotech, artificial intelligence, robots, and future automobiles. He decided to move after much consideration, since it was the right location to create synergy effect from R&D with other related businesses.
On the other hand, the city is implementing various ways to encourage a systematic growth in the future vehicle industry, such as ➊ Establishing a manufacturing complex for Hydrogen fuel cell stack by promoting investment from Hyundai Mobis in Cheong-Ra, ➋ Building a certification evaluation center for the material and parts for connected car by promoting Korea Automotive Technology Institute in Cheong-Ra, ➌ Implementing development business for the innovative technology for autonomous driving chosen from contest from Ministry of Science and Technology ➍ Promoting support for growth of future car parts industry ➎ Establishing a 5-year comprehensive plan for growth of future car in Incheon.
▲ Promotion image from MCNEX Co., Ltd (Autonomous Driving Vehicle – provided by MCNEX)
The city is reorganizing the Incheon automobile industry, which is in crisis as the diesel locomotive market is shrinking, into mainly future vehicles. They are planning to promote transitioning future car technology of the automobile parts industry through R&D cooperation with leading companies and research institutes of the autonomous driving vehicles technology located in Incheon.
For the agreement ceremony, Park Namchoon, mayor, Won-Jae Lee, Free Economy Zone Director, Joo-Young Byun, Employment Economy headquarters Director, Dong-Wook Min, representative of MCNEX Co.,Ltd., Je-Hoon Lee, representative of Pavonine Co., Ltd. Participated in the mayor reception room.
