Automotive Parts Manufacturer to Create 60 New Jobs in the Commonwealth
RICHMOND, VA — Governor Abigail Spanberger today announced that Fukoku Korea plans to invest $18.9 million to establish a new manufacturing plant in Henry County, which will create 60 new jobs in Virginia. Operating out of the Patriot Centre Industrial Park, the South Korea-based company will use the facility to manufacture rubber damper pulleys for automotive engines and thermal gap fillers for electric vehicle (EV) batteries.
“Fukoku Korea’s decision to establish its first manufacturing operation in Virginia highlights the Commonwealth’s strength,” said Governor Abigail Spanberger. “This exciting investment will create 60 new jobs in Henry County and bring even more innovative manufacturing to Southern Virginia. Fukoku Korea’s investment should serve as an example for all international companies: Virginia is ready to help you establish, grow, and succeed in the U.S. market.”
“Virginia continues to attract global manufacturers because of our skilled workforce, prepared sites, and strong local and regional partnerships,” said Secretary of Commerce and Trade Carrie Chenery. “Fukoku Korea’s new facility in Henry County reinforces Southern Virginia’s role in the automotive and EV manufacturing ecosystem while creating new career opportunities for hardworking Virginians. We are proud to welcome Fukoku Korea to the Commonwealth and to support their long‑term success as they expand their American operations.”
“We are excited to establish our new manufacturing facility in Henry County and expand our presence in the United States. Virginia offers a strong business environment, a skilled workforce, and outstanding support from state and local partners,” said Fukoku Korea CEO Ikjun Kwon. “This investment marks an important step in our long-term growth strategy and strengthens our commitment to serving our automotive customers in North America.”
Founded in 1987, Fukoku Korea is a global manufacturer of specialized automotive components, focusing on rubber-based products and engine parts designed to reduce noise and vibration. Fukoku supplies products for major automakers including Hyundai, GM, and Ford. To support the expansion, Fukoku Korea has established FKC America, a new business entity that will serve the American market.
“Our community has long held a deep appreciation and love for cars and the automotive industry, so we are especially proud to welcome a company that produces critical engine components to Henry County,” said Henry County Board of Supervisors Chairman Jim Adams. “FKC America’s decision to locate in the Lot 8 Shell Building at Patriot Centre Industrial Park is a powerful vote of confidence in our workforce and in the investments we have made to prepare for opportunities like this. This international partnership brings quality jobs, new investment, and continued momentum to our region, and we are excited to see their success take root here.”
“Fukoku Korea’s plant will help rev up the economy in Southside and Southwest Virginia, with 60 good-paying manufacturing jobs and a nearly $19 million investment,” said Senator William M. “Bill” Stanley. “Our well-trained workforce in Henry County and beyond stands ready to take the company’s plans over the finish line.”
“This $18.9 million investment by Fukoku Korea is a strong vote of confidence in Henry County’s workforce and business climate,” said Delegate Eric Phillips. “Sixty new jobs mean real opportunity for our families and continued momentum for Southern Virginia. I’m proud to welcome Fukoku to the Commonwealth and to Henry County.”
The Virginia Economic Development Partnership (VEDP) worked with the Martinsville-Henry County Economic Development Corporation to secure the project for Virginia. Governor Spanberger approved a $500,000 grant from the Commonwealth’s Opportunity Fund to assist Henry County with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens.
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Office of the Governor – CONTACT: press@governor.virginia.gov
Virginia Economic Development Partnership – CONTACT: TLevinson@vedp.org
Fukoku Korea – CONTACT: yidream@fukokukorea.co.kr
