Tennessee's First Korean Investment Settles in Clinton; Samlip America Inc. Closer to Its GM Customers.

Business Editors

CLINTON, Tenn.--(BUSINESS WIRE)--May 16, 2001

East Tennessee is the new home for the State's first Korean automobile parts manufacturer, Samlip America Inc. Samlip, the largest Korean auto supplier, will manufacture shifter and park brake assemblies at its new 35,000 square-foot facility in the Clinton I-75 Industrial Park. The company is expected to bring more than 100 new jobs to the area through 2002, and annually generate more than $150,000 total in tax revenue for Clinton and Anderson County, according to a city official.

At last week's grand opening ceremonies, Choong Kon Lee, chairman of the parent company, Samlip Industrial Co., Ltd., told representatives of General Motors, Saturn, Governor Sundquist's office and other local officials that other Korean competitors will have their eye on the State.

"Many Korean automotive industry companies are paying keen attention to us with extraordinary interest, as we are the first, out of all the automotive related companies in Korea, who are expanding with local manufacturing facilities in the States," said Lee, through his interpreter, president Y.K. Woo.

"This exciting new development was made possible through the cooperative efforts of the Melton Hill Industrial Development Board, The New Century Alliance and many others. We are excited to welcome Samlip into our community and hope that it's the start of an international development trend in the area," said Jim Cooper of the Melton Hill group.

Other groups who participated in this joint venture include the Tennessee Department of Economic Development, the Clinton Utilities Board, the Tennessee Valley Authority, the Anderson County Development Corp., and local governments.

The New Century Alliance (NCA), an economic development group for Anderson and Roane Counties, hired a corporate/industrial site location company last year who identified the automotive industry as one that would be a good match with the East Tennessee area.

James Brown, senior buyer at GM, is pleased about the company's U.S. expansion for more reasons than one. "It's more than an asset for the business community and economic vitality of Tennessee. It also greatly enhances the relationship that Samlip shares with GM and its other customers."

Samlip began supplying parts to GM in 1993 and has received the GM QSTP Award (Quality Service Technology Price) and was named GM's Supplier of the Year Awards for five consecutive years.

Editor's Note: The New Century News Bureau was chartered by The New Century Alliance in 1999 to aid the community in its economic development efforts. For more information about the Anderson and Roane County area, including Clinton and Oak Ridge, call toll free 877-563-3716. Photos are available upon request.