South Korean Auto Parts Giant Invests $430 Million in New Morocco Plant

The equipment manufacturer has invested 4.3 billion dirhams in the construction of its first production site in Africa. With its plant, Hands Corporation intends to open up to major manufacturers such as PSA, Renault, Nissan, VW, GM, Hyundai, Ford, KIA, Skoda, Suzuki or Chrysler.

This plant, the first flagship Korean project in Morocco, is not only the eighth for the group and the first outside South Korea and China, but also the most advanced in terms of technology used, said Moulay Hafid Elalamy, Minister of Industry, Trade, Green Economy and Digital. According to him, the automotive sector is maintaining its achievements thanks to this project and is even moving towards a higher level of development.

"The group has thought about expanding its activities internationally by investing in Tangier, thus benefiting from Morocco’s strategic position which facilitates access to the European Union and other nearby countries," said the president of the Hands Corporation group. Rhee Sukchoo said that the Tangier plant has been equipped with the best existing technology in the field to ensure production of 4 million aluminum wheels per year.