Renault Samsung's Unsung Efforts Vitalize Busan Economy

By Nam Hyun-woo

Renault Samsung's pursuit of mutual prosperity with suppliers is revitalizing the economy in its manufacturing base of Busan, with the company receiving top ratings in a state-run corporate partnership evaluation for four straight years, according to the automaker and data Sunday.

According to Renault Samsung, there are 31 Busan-based partner companies supplying parts for the brand's plant in the city.

The partner companies are hiring 5,000 and the combined annual sales of those companies stands at 513.7 billion won ($456.

62 million).

The value created from the partnership comes as a significant contribution to the city's economy.

According to Busan Chamber of Commerce and Industry Renault Samsung's share in the value created from the manufacturing firms in the city has been increasing from 226 percent in 2011 to 355 percent in 2013 and 595 percent in 2016.

As of October, the combined sales of all Renault Samsung suppliers stood at 244 trillion won, up 11.

3 percent from a year earlier Of the sales, more than 1 trillion won is coming from exports for cars from Renault-Nissan-Mitsubishi Alliance.

Renault Samsung's contribution to the local economy is expected to be increased, as it will manufacture the Renault Twizy micro electric vehicle at the Busan plant from September next year

Currently, the two-seat quadricycle is manufactured at a Renault factory in Valladolid, Spain, and imported to Korea Under a deal with Busan City Government, Renault Samsung will bring facilities for making the Twizy from Spain and install them in its Busan plant.

DongshinMotech, a...