Gimhae City Signs Investment Agreements with 5 Companies in Local Industrial Complexes ... Attracts 136 Billion KRW

Gyeongnam Governor Kim Kyung-soo (fifth from the left) and Gimhae Mayor Heo Seong-gon (sixth from the left) are posing for a commemorative photo after signing an investment agreement worth 136 billion KRW with five companies scheduled to move into the Gimhae Industrial Complex at the Gyeongnam Provincial Office. (Photo by Gimhae)

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kang Woo-kwon] On the 27th, Gimhae City announced that it signed an investment agreement worth 136 billion KRW with five companies scheduled to move into industrial complexes in the region at the Gyeongnam Provincial Government Office.

The companies that signed the investment agreement include Donggu Enterprises, SN Korea, and Daeyang Precision, which were selected as domestic return companies, as well as IEV and Geuma Steel in the fields of future automobiles and advanced materials.

Donggu Enterprises, a company manufacturing molds at its Beijing factory in China, plans to withdraw from the Chinese factory, invest 22.4 billion KRW in the Seogimhae General Industrial Complex, relocate its headquarters, and hire 30 new employees.

SN Korea and Daeyang Precision are liquidating their Tianjin factories in China. SN Korea will invest 12 billion KRW to establish a new factory in the Gimhae Easy General Industrial Complex and hire 30 new employees. Daeyang Precision plans to invest 5 billion KRW to expand its factory in the Juho General Industrial Complex and hire 20 new employees.

Additionally, IEV, a company in the future automobile and advanced materials parts sector, is a subsidiary of Dongshin Motec, an automobile specialist company located in Jinyeong-eup, and plans to invest in establishing a three-wheeled electric vehicle production plant in the Techno Valley Industrial Complex in Jinrye-myeon. The investment amount is 70 billion KRW, and the number of new hires will reach 250.

Geuma Steel, located in Changwon City, produces advanced material parts and plans to invest 26.6 billion KRW to establish a dissimilar steel sheet production plant in the Gimhae Jinyeong Ocheok General Industrial Complex, hiring 50 new employees.

Meanwhile, including the companies attracted this time, Gimhae City has signed investment agreements for new and expanded companies totaling 809.8 billion KRW this year, attracting the largest scale of investment ever despite the COVID-19 pandemic.

Mayor Heo Seong-gon of Gimhae emphasized, "We will continue to discover incentives for investment companies and provide active administrative support so that Gimhae can grow into a city favorable for businesses and the leading economic hub nationwide."

This content was produced with the assistance of AI translation services.