LS

Jeonbuk Governor Kwan-young Kim (second from the left), Young-cheol Choi, head of theSpecial Business Division atLS Mtron (third from the left) and other officials take a commemorative photo at the investment agreement ceremony held in the conference room of Jeonbuk Special Self-Governing Provincial Governmenton the 24th.

■ LS Mtron signs aninvestment agreement to build a new track shoe plant on a 37,628m2 site in the Wanju Techno Valley 2 Industrial Complex and invest KRW50 billion by 2026
■ By separatingthe defense part from the existing Jeonju plant,we willfocus on improvingtrack shoe productivity
■ Young-cheol Choi, head of the Special Business Division at LS Mtron, says “With this agreement as a stepping stone, we will improve track shoe productivity and promote the excellence of the defense industry of South Korea to the world.”

LS Mtron (CEO Chai-ho Shin), an LS Group company specializing in industrial machinery and high-tech parts, announced on the 25th that ithad signed an investment agreement for building a new track shoe plantwith Jeonbuk Special Self-Governing Province.

Jeonbuk GovernorKwan-young Kim, Gunsan Mayor Im-jun Kang, Wanju-gun Mayor Hee-tae Yoo, Wanju Techno Valley CEO Choong-sik Choi, LS Mtron Special Business Division headYoung-cheol Choi, as well as representatives and officials of SeAH Steel and GL Chem, which are also signing investment agreements with Jeonbuk Special Self-Governing Province, attended the signing ceremony on this day.

According to this agreement, LS Mtron will build a new track shoe production plant on a 37,628m2 site in the Wanju Techno Valley 2 Industrial Complex and invest approximately KRW50 billion by 2026. It plans to separate the defense part (track shoes) from the existing Jeonju plant and focus on improving the productivity of track shoesin order to quickly respond to growing demand inthe defense industry around the world. As the new plant is adjacent to the existing plant (4km), it is possible to utilize existing infrastructure. It is expected that production efficiency can be increased as major partners are located in the same industrial complex.

LS Mtron has been the exclusive supplier of track shoes for Main Battle Tanks, Self-Propelled Howitzer, and Armored Personnel Carrier to the Korean Ministry of National Defense for over 50 years since it began its military track shoe business in 1974. Among global track shoe companies, it is the only company with the capability to produce US-type, Russian-type, and Korean-type track shoes. It also exports track shoes to over 40 countries around the world, including the United States, Poland, and Spain.

“We are at a critical moment in terms of quickly responding to the continuous growth of the defense industry,” said Young-cheol Choi, head of the Special Business Division at LS Mtron. “We will use this agreement as a stepping stone to improve the productivity of track shoes and promote the excellence of K-Defense to the world.”