Hoengseong-gun, "Optimal Location for Corporate Investment"‥ Attracting Corporate Investment

Investment Attraction Agreement Signed with 3 Companies, 47.4 Billion KRW Investment and 130 Jobs Created

Hoengseong-gun Domestic Return and New Investment Agreement Ceremony [Gangwon-do]

[Asia Economy Reporter La Youngcheol] Hoengseong-gun, Gangwon Province, has actively promoted itself as the optimal location for corporate investment by highlighting transportation infrastructure and other advantages to attract business investments.

Gangwon Province and Hoengseong-gun announced on the 2nd that they have signed investment agreements (MOU) with three companies: Onne Industry Co., Ltd., Cape Ride Co., Ltd., and Pumpkin Co., Ltd.

The three companies plan to invest a total of 47.4 billion KRW in the Ucheon General Industrial Complex, Ucheon 2nd Agricultural and Industrial Complex, and Gonggeun Agricultural and Industrial Complex in Hoengseong-gun, establishing manufacturing facilities and creating 130 new local jobs.

Onne Industry Co., Ltd., which manufactures industrial films, is a company that expanded into Vietnam and achieved annual sales of 25.8 billion KRW (as of 2020).

By 2025, it plans to dispose of two factories in Vietnam and simultaneously invest 21.5 billion KRW to establish a production plant in the Ucheon General Industrial Complex in Hoengseong, employing 50 local workers.

Cape Ride Co., Ltd., which relocated from Icheon, Gyeonggi Province to Hoengseong, produces seasoned meat, sausages, and pork cutlets. It plans to invest 11 billion KRW by December this year to build a second factory in the Ucheon 2nd Agricultural and Industrial Complex and hire 30 additional employees.

Pumpkin Co., Ltd. is a leading company in the construction and manufacturing of electric vehicle charging systems, holding numerous patents and various certifications, and achieved sales of 36.9 billion KRW (as of 2021).

By December 2024, it will invest 14.9 billion KRW to establish an electric vehicle charger production plant in the Gonggeun Agricultural and Industrial Complex in Hoengseong. Along with hiring 50 new employees, it plans to participate in Hoengseong-gun’s key project, the e-mobility industry.

With this agreement, the Gonggeun Agricultural and Industrial Complex has been fully leased at 100%, following the three existing agricultural and industrial complexes, and the Ucheon General Industrial Complex shows a leasing rate of 91.3%.

An Gwonyong, Director of the Global Investment and Trade Bureau, stated, "We will provide practical support at the Gangwon Province level to ensure that all three companies can develop in harmony with the local community. We will continue to attract more companies to contribute to creating quality jobs and revitalizing the local economy."

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