Kumho Tire Gwangju Plant Relocation, 'Hampyeong-gun' Efforts in Investment Attraction Shine

Wolya-myeon Bitgreen Industrial Complex Confirmed, Expected to Be a Revolutionary Opportunity for Hampyeong Development

[Hampyeong=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] With the relocation of Kumho Tire’s Gwangju factory confirmed to the Wolya-myeon Bitgreen National Industrial Complex area, Hampyeong County’s long-term efforts to attract large-scale corporate investment have come to fruition.

According to the county on the 10th, Kumho Tire Co., Ltd. and Korea Land & Housing Corporation (LH) signed a business agreement on December 30 last year for the Kumho Tire Gwangju factory relocation site development project, and Kumho Tire paid the contract deposit for the factory relocation site to LH on the 6th.

The land for the Kumho Tire Gwangju factory relocation is in the second phase of the Bitgreen Industrial Complex project, covering approximately 500,000㎡. Kumho Tire plans to build a factory producing eco-friendly tires and aims to contribute to large-scale job creation.

With the factory relocation confirmed, the county has established a ‘Kumho Tire Relocation Support TF Team’ to assist with various administrative procedures until Kumho Tire moves in.

Additionally, an expansion (modification) project will be carried out in the Haebo Agricultural and Industrial Complex, which is close to the Bitgreen Industrial Complex where anchor companies such as GGM and Kumho Tire (leading companies that trigger a chain effect of partner companies moving in) are located.

By 2024, the existing 245,000㎡ Haebo Agricultural and Industrial Complex will be expanded to 500,000㎡ to accelerate the preparation of hinterland industrial facilities, including attracting companies related to the automobile industry.

This business agreement is evaluated as a result of Hampyeong County’s proactive efforts to attract investment.

Earlier, in January last year, the county received a letter of intent to move into the Bitgreen Industrial Complex from Kumho Tire, and the relevant departments have been carrying out related administrative procedures.

At the same time, it was judged that Kumho Tire’s relocation to the Hampyeong area would be a groundbreaking opportunity for Hampyeong’s development, and continuous behind-the-scenes negotiations have been held while respecting the positions of both Gwangju Metropolitan City and Kumho Tire.

The relocation of Kumho Tire’s Gwangju factory has added synergy effects with the Gwangju Global Motors (GGM) automobile factory and others.

The county expects the Bitgreen Industrial Complex area to become a mecca of the automobile industry, and Hampyeong, which has been an agricultural county, is seeking to transform into an industrial city through the successive attraction of automobile manufacturing companies.

A county official said, “The relocation of Kumho Tire’s Gwangju factory to the Bitgreen Industrial Complex will mark a groundbreaking turning point for Hampyeong’s development,” adding, “We will actively assist in completing administrative procedures such as permits so that construction can begin early.”

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