Car parts maker to build plant

Bosch, Europe’s largest automobile parts manufacturer, said yesterday that it is planning to invest 140 billion won ($140 million) in Korea by 2008 to build a diesel engine parts plant and to expand the company’s technology research center here. Bosch Korea President Heinz Grewe said the production plant will be in Daejeon and the agreement with the Korean government was made during President Roh Moo-hyun’s visit to Germany last month. Recently, Bosch Korea decided to expand its investment as Hyundai Motor and Kia Motors’ demand for automobile parts has increased. The German company will also secure top technicians in Korea to develop major automobile parts as it prepares to enter the Chinese market. Mr. Grewe said the plant in Daejeon will construct a common rail fuel injector and a high pressure fuel pump, which are key parts in a high-tech diesel engine. He said Bosch expects diesel passenger car sales in Korea to rise rapidly with the development of common rail technology, which alleviates the pollution that results from using diesel. Last month, the Korean government approved the sales of diesel passenger cars, which were previously limited to sport-utility vehicles and huge commercial vehicles such as trucks and buses because of environmental reasons. Mr. Grewe said the company will also focus on developing new technology for hybrid-engine cars at its expanded research center in Yongin, Gyeonggi province. by Kim Tae-jin