Chungnam Attracts Investment of 484.9 Billion KRW from 23 Companies

On the 7th, the heads and deputy heads of 10 cities and counties including Cheonan posed for a commemorative photo after signing an investment agreement with 23 company representatives, including Lee Su-hoon, CEO of Deoksan Neolux. Provided by Chungnam Province

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has attracted an investment of 484.9 billion KRW from 23 domestic small and medium-sized enterprises.

According to the province on the 8th, on the previous day, Shin Dong-heon, Deputy Mayor of Cheonan, along with heads and deputy heads of 10 cities and counties, signed investment agreements with representatives of 23 companies, including Lee Soo-hoon, CEO of Deoksan Neolux.

According to the agreement, the 23 companies will either newly build or expand factories (16 companies) or relocate (7 companies) on a total site area of 404,336㎡ in industrial complexes across 10 cities and counties.

The province expects that once these companies begin full-scale production, there will be effects such as 1,270 new jobs, production effects of 829.7 billion KRW, and added value effects of 250.7 billion KRW.

Additionally, the effects within the province through site development and equipment purchases by the companies are expected to be 650.4 billion KRW in induced production and 241.1 billion KRW in induced added value.

The companies participating in the investment include ▲Deoksan Neolux (investing 61 billion KRW in Cheonan Technopark Industrial Complex) ▲Mintech (20 billion KRW in Cheonan Technopark Industrial Complex) ▲Cheonil Precision (15.3 billion KRW in Cheonan 5 Industrial Complex) ▲Samchunri ENG (18 billion KRW in Seonggeo General Industrial Complex) ▲Zenbody (16 billion KRW in individual site in Sindang-dong, Seobuk-gu) ▲BNC Cosmetics (6.3 billion KRW in Pungse 2 General Industrial Complex) ▲Deoksan Electra (40 billion KRW in Nam Gongju General Industrial Complex) ▲Dio Automotive (29 billion KRW in individual site in Dunpo, Asan) ▲SAM (10 billion KRW in Yeomchi General Industrial Complex, Asan) ▲LT Materials (23.8 billion KRW in Asan Inju General Industrial Complex Section 3), among others.

Yang Seung-jo, Governor of Chungnam Province, said, “This investment attraction is significant as it was achieved amid the prolonged COVID-19 pandemic causing regional economic stagnation,” and added, “I hope this agreement will serve as a new impetus for both Chungnam and the 23 companies.”

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