Chungnam Attracts Investment of 407.2 Billion KRW from 21 Companies

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has attracted 407.2 billion KRW in investment funds from 21 companies. These companies plan to establish new or expand existing production facilities in seven cities and provinces, including Cheonan.

On the 10th, the province announced that it signed a joint investment agreement at the provincial government office. According to the agreement, these companies will establish new or expand existing production facilities or relocate within a 296,319㎡ industrial complex site in Chungnam. One of the companies included in the agreement is a domestic returnee company.

First, in Cheonan, Gomundang Printing, returning from Qingdao, China, will newly settle in the Techno Industrial Complex. Additionally, Dongyang LNP and UT Tech plan to establish or relocate production facilities in Seonggeo General Industrial Complex, while S-Meca, Youngshin Special Steel, and Humintec will do so in the Northern BIT Industrial Complex.

In Gongju, NC Chem has newly established production facilities in the Tancheon General Industrial Complex.

Also, in Asan, Yonsei Dairy will expand its factory, FNS Tech will settle in the Digital General Industrial Complex, Samwon and AMT in the Smart Valley General Industrial Complex, A-Tech Solution in the Inju General Industrial Complex, and V-Sider Holdings in the Hoseo Venture Valley.

In Gyeryong, GSE & Jauber will relocate and establish production facilities in the Gyeryong 2nd Industrial Complex, and in Dangjin, HDC Hyundai EP will settle in the Seokmun Agricultural and Industrial Complex, while Daea Energy, Deoksan Industrial, and Wonilsa will establish or expand production facilities in the National Seokmun Industrial Complex. In Hongseong, Peter Coupling plans to relocate to the Naepo Urban High-tech Industrial Complex.

The province expects that once these companies begin full-scale production, the region will see a production effect of 308.4 billion KRW and an added value of 73.6 billion KRW.

Yang Seung-jo, Governor of Chungnam Province, said, “Considering the prolonged COVID-19 pandemic and the resulting economic downturn in the region, the joint investment attraction will be good news for the area,” adding, “The province will strive to ensure that the agreement becomes an opportunity for mutual growth between the region and companies.”

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