Korean Auto Assembly in Guatemala

South Korean investors have made a proposal to President Perez Molina to set up a plant for assembling Kia, Daewoo and Hyundai autos, with an investment of $600 million.

Wednesday, March 14, 2012

The operation of a Korean auto plant could generate 20,000 direct and 30,000 indirect jobs and the investment would aim to fill market needs in Central America and southern Mexico.

President Otto Pérez Molina had a meeting with a group of Korean investors, who have expressed support for the project, informed the Secretariat of Social Communication of the Presidency of Guatemala.

The total investment is estimated at $600 million. The assembly line would produce three types of cars: compact, sedan and pick-ups. If negotiations are successful, the plant, which would have a length of 20 workstations, would be installed in the department of Escuintla, near Puerto Quetzal, and would comply with all environmental protection requirements.

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Executives at Varma Carrocerías are analyzing the feasibility of operating an automotive assembly plant in the south of the country.

The company has agreements with Mercedes Benz, Hino, International and Volkswagen for assembling those brands of cars.

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The Guatemalan government has announced that the bus manufacturer HIGER is studying the feasibility of installing an assembly plant for light vehicles in the country.

The interest of the Asian company was revealed in the context of a tour in Guatemala by business representatives from the company who came to explore investment opportunities.

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