News Summary
ALUKO Group, a South Korean company, is set to open its first U.S. manufacturing facility in Jackson, Tennessee. This $36.3 million investment will produce aluminum battery casings for Ford’s BlueOval City project, creating 55 new jobs in Madison County. The initiative highlights Tennessee’s growing relationship with South Korean investors and further strengthens the region’s manufacturing capabilities.
Jackson, Tennessee – South Korean-based ALUKO Group has announced plans to establish its first manufacturing facility in the United States in Jackson, Tennessee. This new facility is dedicated to manufacturing aluminum battery casings for Ford Motor Company’s BlueOval City project, marking a significant investment of $36.3 million.
The project is set to create 55 new jobs in Madison County, further enhancing the local economy. The ALUKO Group operates under several subsidiaries, including ALUKO, Hyundai Aluminium, Gogang Aluminium, Alutec, KPTU, Hyundai Aluminium Vina, and Alutec Vina, and currently employs around 4,500 people globally. This expansion into the U.S. market indicates the company’s strategic move to enhance its footprint in North America amidst growing demands for electric vehicles and automotive components.
Tennessee has become a key player in attracting foreign direct investment, particularly from South Korea, which has emerged as the state’s number one partner in this area since 2019. South Korean investments in Tennessee now exceed $4.5 billion, resulting in nearly 3,500 jobs created across the state. The arrival of ALUKO Group is expected to strengthen this relationship further.
Tennessee Governor Bill Lee has expressed enthusiasm for the ALUKO Group’s decision to invest in Jackson, citing the state’s robust workforce and attractiveness to global companies. Similarly, Stuart C. McWhorter, Commissioner of the Tennessee Department of Economic and Community Development, noted the solid ties between Tennessee and South Korean businesses, which facilitate such investments.
ALUKO Group Chairman Do-Bong Park recognized the establishment of the new facility as a significant milestone for the company as it seeks to expand its operations in the North American market. Jackson Mayor Scott Conger emphasized that this investment enhances Jackson’s reputation as a vital hub for manufacturing and economic development.
Madison County Mayor AJ Massey highlighted the area’s pro-business environment as a decisive factor in attracting ALUKO Group to make this investment. The favorable business climate, combined with dedicated local workforce readiness, offers a conducive setting for the company’s operations.
John Bradley, a senior vice president at TVA, underscored the importance of bringing jobs and investment to the region, aligning with the Tennessee Valley Authority’s mission to support sustainable economic growth. Local legislators, including Senator Ed Jackson and Representative Chris Todd, shared a positive outlook regarding the economic benefits that ALUKO Group’s operations will bring to the local community.
Founded in 1956, ALUKO Group has become a leader in the aluminum extrusion and nonferrous materials industry in South Korea, with a diverse product portfolio that includes applications for vehicles, ships, solar module frames, and construction materials. This new venture not only reflects ALUKO’s commitment to innovation and growth but also signifies an exciting development for both the company and the wider Jackson community.
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