Geochang-gun and Geumsan Machinery Elevator Company Sign Investment Agreement

Promising Elevator Company Enters Mechanical Parking Equipment Manufacturing, Installation, and Maintenance Business

Geochang-gun and Geumsan Machinery Co., Ltd. Elevator Company Investment Agreement Signed (Photo by Geochang-gun)

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam announced on the 17th that it has signed an investment agreement with Geumsan Machinery Co., Ltd., a promising elevator company entering the business of manufacturing, installing, and maintaining mechanical parking facilities.

The investment agreement was held with a minimum number of attendees, including Geochang-gun Mayor Goo In-mo and Geumsan Machinery Co., Ltd. CEO Jo Soo-hyun, due to the spread of the novel coronavirus infection (COVID-19).

Geumsan Machinery Co., Ltd., which signed the investment agreement with the county, plans to invest 2.4 billion KRW in the first phase to establish manufacturing facilities on a 12,425㎡ site in the Geochang Elevator Specialized Agricultural and Industrial Complex and employ 13 workers. In the second phase, it plans to invest an additional 1 billion KRW to employ about 20 more workers.

Geumsan Machinery Co., Ltd. is a partner company of a promising mid-sized domestic mechanical parking facility manufacturer and has secured a stable supply chain.

CEO Jo stated, “I am grateful to Geochang-gun for preparing various support measures needed by companies and actively resolving their difficulties. We will do our best to ensure the company succeeds and contributes to revitalizing the local economy.”

Mayor Goo said, “I thank the company representatives who invested believing in the future value of the Geochang Elevator Valley. We will prepare various support measures to help them succeed in Geochang and cooperate with elevator-related organizations to provide administrative and financial support.”

Meanwhile, the county has five representative elevator companies, and two elevator companies that signed investment agreements have already started constructing factories, contributing to the revitalization of the local economy.

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