Korea Zinc Invests $6.6 Billion in Mine and New Production Facilities, Tennessee
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Korea Zinc Chairman Yun Choi said the company will invest more than $6.6 billion in new production facilities in Clarksville and Gordonsville, Tennessee. The investment represents the company’s first U.S. locations and the largest single private corporate investment made in state history.
As part of its production efforts, Korea Zinc will create 420 new jobs in Montgomery County and an additional 320 jobs in Smith County over the next five years. The multi-county project comprises construction of a new facility in Clarksville that will house the company’s U.S. headquarters as well as manufacturing operations. In Gordonsville, the company plans to reopen a former mine, bringing back lost jobs and industry to the community. The company, known for its commitment to community engagement, education, and environmental sustainability, plans to acquire and invest in several locations statewide.
In addition, this effort builds upon agreements announced yesterday with the White House, and, subsequently, the U.S. Department of Commerce, the Department of War, and other partners that rely on the company’s critical and strategic mineral products. Korea Zinc’s refining plays a vital role in supporting advanced military technology and safeguarding national and international security by reducing the nation’s dependence on China for critical minerals.
This investment is a direct result of Gov. Bill Lee’s and Deputy Gov. and Commissioner Stuart McWhorter’s recent international recruiting trip to Asia. With the company’s total investment of more than $6 billion, this project further strengthens the longstanding relationship between Tennessee and South Korea and reinforces a partnership built on innovation, manufacturing excellence and shared values.
Since Gov. Lee took office, South Korea has emerged as one of the state’s top partners for foreign direct investment in creating new jobs and investing capital — a total of $7.2 billion invested during this administration. With Korea Zinc’s investment, South Korea will become the state’s No. 1 international partner for capital invested statewide since 2019.
Korea Zinc operates as a general non-ferrous metal smelting company primarily in South Korea. The company offers zinc slab ingots, alloy jumbo blocks, anode ingots, and die cast ingots; and lead and lead alloy ingots; and copper cathodes. The company also provides gold and silver; and rare metals, including indium, bismuth, and antimony; and sulfuric acid, semi sulfuric acid, and oleum. In addition, it engages in non-ferrous metals import and export, and recycling; wholesale and product brokerage; provision of logistics warehousing services; shipping; construction equipment operation; waste lubricant refining; electricity, gas, and steam supply; concentrate export; and logistics businesses. Further, the company offers private equity fund services; media content production services; electrolytic copper foil for secondary batteries; and electronic waste collection, dismantling, shredding, and processing services.
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