The world's leading manufacturer of clutch assemblies, the company VALEO (France), has 143 plants in 20 countries. One of the most promising and profitable is located in Daegu (South Korea). This plant is the brainchild of the joint venture PYEONG HWA VALEO (Pyong Hwa Valeo). The company was formed by two giants: VALEO and PYEONG HWA Clutch Ind.Co., Ltd in 1988. Since then, the company, carrying out strict quality control of products, has managed to achieve high results. Since 1995, PHC VALEO began official deliveries of clutch elements to the conveyor of South Korean automobile concerns such as HYUNDAI, DAEWOO, KIA and SSANG YONG, as evidenced by original spare parts marked PHC Valeo.