RICHMOND, Va. (Mar. 5, 2026) — Fukoku Korea, a global manufacturer of automotive components, has announced plans to invest $18.9 million to establish its first manufacturing facility in Henry County, Virginia, creating 60 new jobs in the Commonwealth.
The new plant will be located in the Lot 8 Shell Building at Patriot Centre Industrial Park and will manufacture rubber damper pulleys for automotive engines as well as thermal gap fillers used in electric vehicle batteries, strengthening Southern Virginia’s role in the growing automotive and EV supply chain.
“Fukoku Korea’s decision to establish its first manufacturing operation in Virginia highlights the Commonwealth’s economic strength,” said Governor Abigail Spanberger. “This investment will create new jobs in Henry County and bring additional advanced manufacturing to Southern Virginia. Virginia is ready to help international companies establish, grow, and succeed in the U.S. market.”
Expanding Automotive and EV Manufacturing
State leaders say the project reinforces Virginia’s ability to attract global manufacturers seeking access to a skilled workforce, prepared industrial sites, and strong economic development partnerships.
“Virginia continues to attract global manufacturers because of our skilled workforce, ready-to-build sites, and strong local and regional partnerships,” said Secretary of Commerce and Trade Carrie Chenery. “Fukoku Korea’s new facility strengthens Southern Virginia’s automotive and electric vehicle manufacturing ecosystem while creating valuable career opportunities for Virginians.”
The project also represents a significant milestone for Fukoku Korea as the company expands its presence in North America.
“We are excited to establish our new manufacturing facility in Henry County and expand our operations in the United States,” said Ikjun Kwon, CEO of Fukoku Korea. “Virginia offers a strong business climate, talented workforce, and outstanding support from state and local partners. This investment is an important step in our long-term growth strategy as we serve automotive customers across North America.”
Supporting Global Automotive Supply Chains
Founded in 1987, Fukoku Korea specializes in rubber-based automotive components designed to reduce engine noise and vibration. The company supplies major global automakers including Hyundai, General Motors, and Ford.
To support its U.S. expansion, the company has established FKC America, a new entity that will oversee operations serving the American automotive market.
Local leaders say the project aligns well with Henry County’s strong manufacturing heritage.
“Our community has long embraced the automotive industry, so we are proud to welcome a company that produces critical engine components,” said Jim Adams, Chairman of the Henry County Board of Supervisors. “FKC America’s decision to locate in Patriot Centre Industrial Park demonstrates confidence in our workforce and the investments we have made to prepare for opportunities like this.”
State and Local Partnerships Support the Project
The Virginia Economic Development Partnership (VEDP) worked with the Martinsville-Henry County Economic Development Corporation to secure the project for Virginia.
To support the investment, Governor Spanberger approved a $500,000 grant from the Commonwealth’s Opportunity Fund to assist Henry County.
The company will also receive workforce development support through the Virginia Jobs Investment Program (VJIP), which provides funding and consulting services for employee recruitment and training programs tied to new job creation.
Regional leaders say the project will contribute to continued economic growth across Southern Virginia.
- “Fukoku Korea’s plant will help accelerate economic momentum in Southside and Southwest Virginia,” said Senator William M. ‘Bill’ Stanley. “Our well-trained workforce stands ready to support the company’s success.”
- “This investment represents a strong vote of confidence in Henry County’s workforce and business climate,” added Delegate Eric Phillips. “Sixty new jobs will create real opportunities for families in our region.”
