Jeonnam Province Continues to Attract Companies in Advanced Complex Logistics and More

[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province has seen a series of corporate attractions including advanced complex logistics.

On the 22nd, the province announced that it signed investment agreements worth 227.6 billion KRW with two companies: Tosonamhae Silica, a Korea-Japan joint silica manufacturer, and SPC Jangseong Logistics, an advanced complex logistics company.

The agreement ceremony was attended by company representatives, Yeosu Mayor Kwon Oh-bong, and Jangseong County Deputy Governor Lim Yoon-seop. This investment is expected to help the local economy by creating 1,027 new jobs.

According to the agreement, Tosonamhae Silica will invest 27.6 billion KRW to manufacture silica, a material for finished tires, on a 6,600㎡ site in Yeosu National Industrial Complex.

It is a joint venture that maximizes the strengths of Namhae Chemical's location and Japan's Tosoh Silica's advanced material technology.

A Namhae Chemical official said, “There were ups and downs from the first practical consultation in 2017 to the establishment of the joint venture last year, but as a result of negotiations focusing on the greatest value of corporate development through coexistence, the joint investment bore fruit.”

SPC Jangseong Logistics Co., Ltd. will invest 200 billion KRW by 2023 to build a 3PL advanced complex logistics center on a 58,000㎡ site in Donghwa-myeon, Jangseong.

This is expected to create more than 1,000 direct and indirect new jobs, especially among the younger generation, as well as promote linked development of related industries through the expansion of the local logistics base.

Park Hyung-bin, CEO of SPC Jangseong Logistics, said, “Jangseong has a well-connected transportation network, making it the optimal location for nationwide logistics business, which led to our investment decision. Through the 3rd party logistics (3PL) operation method, which rents some or all of the facilities to specialized logistics companies?a rare system domestically?we aim to attract leading logistics companies and become a business that contributes to revitalizing Jeonnam's economy.”

Yoon Byung-tae, Jeonnam Province Deputy Governor for Political Affairs, emphasized, “The investment agreement companies are essential for securing future competitiveness in the chemical sector, a key local industry, and advanced logistics industry. We hope they grow into global companies representing Jeonnam. The province and local governments will actively support creating a virtuous cycle structure where the region and companies coexist.”

Meanwhile, since the 7th local government administration, Jeonnam Province has contributed to revitalizing the local economy and job creation by attracting investments worth 19.1994 trillion KRW from 749 companies as of the end of March.

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