Geochang-gun Successfully Attracts Investment from Two Promising Elevator Companies

Daeryun Ellis and SM I Korea Sign Employment and Investment Agreement with 47 Employees and 4.4 Billion KRW Investment

Geochang-gun is holding an investment attraction agreement ceremony with Daeryun Ellis Co., Ltd. and SMI Korea Co., Ltd. (Photo by Geochang-gun)

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam announced on the 9th that it signed an investment agreement (MOU) with two promising elevator companies, Daeryun Ellis Co., Ltd. and SM iKorea Co., Ltd., with a total investment amount of 4.4 billion KRW and employment of 47 people.

The investment agreement ceremony was attended by about 12 people including industry-academic-research-government officials related to elevators in Geochang-gun. County Governor Gu In-mo, Daeryun Ellis CEO Lee Ki-rang, and SM iKorea CEO Lee Yoon-gi signed the Geochang Elevator Valley investment agreement.

Daeryun Ellis, which signed the investment agreement with the county, is a promising small and medium enterprise that has patented right-angle penetrating elevators and escalator safety steps and registered them as innovative prototypes with the Public Procurement Service. By 2022, it plans to invest 2.4 billion KRW on a 8,046㎡ site, employ 37 people, and manufacture elevators and escalators.

SM iKorea is a partner company of Swiss BRUGG, which has over 150 years of wire rope manufacturing experience. By 2022, it plans to invest more than 2 billion KRW on a 7,478㎡ site in the elevator specialized agricultural and industrial complex, employ 10 people, and produce elevator wire ropes.

CEO Lee of Daeryun Ellis said, “Daeryun Ellis will do its best to make Geochang Elevator Valley a forward base for developing the elevator industry.”

CEO Lee of SM iKorea also stated, “Based on 30 years of experience in the elevator industry, we will make our company more successful in Geochang Elevator Valley.”

Geochang County Governor Gu In-mo said in his greeting, “We will do our best to provide administrative and financial support for technology development and improvement of working conditions so that investment companies can succeed in Geochang,” and added, “I ask companies settled in Geochang to coexist and grow together.”

With this investment agreement, the county has achieved investment attraction results of 4 companies, 18.4 billion KRW, and employment of about 110 people, revitalizing the local economy according to residents.

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