The new company will spend 15 billion won by next year to build a plant in a 10,000-square-meter site in the Seosan Auto Valley and begin mass-producing the turbocharged engines by 2015. By 2019 when the Seosan plant will be completed, it will have production capacity that can churn out 750,000 turbochargers a year.
Ishikawajima-Harima Heavy Industries, or IHI Corp., is a large heavy equipment manufacturer with a sales revenue of 15 trillion won, employing 26,000 in 187 affiliates in Japan and elsewhere. It has major auto manufacturer clients such as Volkswagen, Mercedes-Benz, Toyota, and Fiat.
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