Jinju-si, STEM, and DreamPF Sign Investment Agreement (MOU)

Ppuri General Industrial Complex, 2 Companies Confirm 16 Billion KRW Investment
Expecting Creation of 130 Jobs

Jinju Mayor Cho Gyu-il is signing an investment agreement (MOU).

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province announced on the 17th that it signed an investment agreement (MOU) worth 16 billion KRW with Stem Co., Ltd. and Dream PF Co., Ltd. in the City Hall Entrepreneurs' Room.

Despite economic crises such as the novel coronavirus infection (COVID-19), the city has made a strong start to the recovery of the local economy in the Year of the Ox by discovering promising industry investment companies and successfully attracting domestic companies' investments for industrial diversification.

The two companies that decided to invest on this day are expected to inject vitality into the stagnant local economy and job creation by investing a total of 16 billion KRW and hiring 130 new employees in the Ppuri General Industrial Complex.

Stem Co., Ltd. is a specialized manufacturer of aircraft structural components such as processing and assembly of aircraft parts. It plans to actively participate in the production of military products such as Korea Aerospace Industries Ltd.'s next-generation Korean Fighter eXperimental (KF-X), Light Armed Helicopter (LAH), and Light Civil Helicopter (LCH). It also aims to gradually expand its business overseas to connect with major civilian aircraft manufacturers such as Boeing and Airbus.

Dream PF Co., Ltd. is a leading company in the future 6th industry through agricultural innovation. It plans to continuously invest in building a future agricultural ecosystem based on smart farms, from agricultural materials for smart farm operation to the development and distribution of operation software, to advance domestic agriculture and enhance the competitiveness of global agriculture.

Jinju Mayor Cho Gyu-il, starting with New Year's greetings, said, "I thank the entrepreneurs who decided to invest in the newly established Ppuri General Industrial Complex despite the ongoing economic crisis and the contraction of business operations," and added, "We will spare no support to ensure that this investment is never regretted."

The Ppuri General Industrial Complex, located in Yeha-ri, Jeongchon-myeon, Jinju City, covers an area of 962,460 square meters. It received completion approval on the 28th of last month with an investment of 262.5 billion KRW and currently has a sales rate of about 38%.

Following the government's announcement of the 'Comprehensive Plan to Strengthen Root Industry Competitiveness' to respond to the 4th Industrial Revolution, the root industry is expanding its material scope from the existing metal materials to include six additional materials such as plastic, rubber, and ceramics, and is promoting 14 root technologies including precision processing, 3D printing, and robotics.

With this revision of the root technology scope, a new support system for the root industry will be established through stabilization of the root industry supply chain and high value-added development.

A city official expressed high expectations, saying, "By securing a specialized industrial cluster connecting Jeongchon General Industrial Complex, Ppuri General Industrial Complex, and the National Aerospace Industrial Complex, it will become a central axis leading future advanced industries such as aerospace, root industry, ceramics, and machinery."

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