Real estate still needed; size and scope of project undetermined
Hironic Co. Ltd., a South Korean manufacturer of medical devices for the beauty industry, has signed a memorandum of understanding to open a new production and sales facility in Taylor, northeast of Austin.
While the size, scope and precise location of the project are yet to be determined, the company on Jan. 31 signed the agreement with Korean management firm Mastern Investment Management Co. Ltd., the city of Taylor and its economic development wing “to facilitate Hironic’s entry into the North American market,” according to a Feb. 8 announcement.
Founded in 2006, Hironic manufactures and sells medical devices for skin beautification, including devices for laser hair removal, tattoo and scar removal and skin tightening.
As part of the agreement, the city of Taylor will relay potential real estate options to Hironic and streamline the development process, while the Taylor Economic Development Corp. will potentially provide financial incentives. Mastern will help with the acquisition of real estate as well as the design and construction of the facility.
The memorandum of understanding was signed at the JW Mariott Seoul in South Korea during a recent trip there by Williamson County officials to court businesses. It was first reported on Feb. 2 by BusinessKorea.
“Establishing a production plant in the U.S. has numerous advantages, including easier access to the North and South American markets and reduced logistics costs. We are grateful to Mayor Brandt Rydell of Taylor and Ben White, CEO of the EDC, for showing their support and cooperation for Hironic during their visit to Korea,” Hironic CEO Lee Sang-won said, according to BusinessKorea.
White told the Austin Business Journal on Feb. 8 that the medical device maker will help diversify Taylor’s economy.
“We look forward to working with Mastern America and Hironic on this new facility in Taylor,” he said.
Texas was a preferred region for business because of the state’s available land, resources and business-friendly policies, according to the announcement, and it also cited the spotlight that Taylor has received abroad because of the factory that Samsung Electronics Co. Ltd. is building in the city.
The potential project represents the latest success for Williamson County officials aiming to lure South Korean businesses to the county north of Austin. The Samsung factory is the big prize, but officials have since signed formal trade agreements with South Korea, opened up an office in the country and made multiple trips there.
Wins so far include plans by iMarket Korea Inc. to build a technology-oriented business campus, the Taylor Technology Park, on more than 200 acres it has purchased in the city. MSS International, a supplier of gas and piping systems to Samsung, has also chosen Round Rock for its new U.S. headquarters, while another Samsung supplier, Hanyang Eng USA Inc. is moving its U.S. headquarters to Cedar Park.
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