Chungnam's 7th Local Government, Attracts $2.08 Billion from 45 Companies

Yang Seung-jo, Governor of Chungcheongnam-do, held a meeting on the 14th with representatives of foreign-invested companies attracted during the 7th local government term to share the achievements so far. Photo by Chungnam Province

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has recorded foreign investment attraction achievements of $2.08 billion from 45 companies during the 7th local government administration.

On the 14th, the province held a settlement meeting on foreign investment attraction for the 7th local government term by inviting foreign-invested companies in the province.

On this day, the province shared the foreign investment attraction achievements of the 7th local government term with the attendees. The shared achievements showed that compared to the 6th local government term (32 companies with $720 million), there were 13 more companies and $1.36 billion more in foreign investment.

In particular, the products manufactured by companies attracted during the 7th term include ▲semiconductor silicon wafers ▲semiconductor and display vacuum pumps ▲ethylene and propylene ▲polypropylene ▲industrial gases ▲battery packs for electric vehicles ▲liquefied natural gas (LNG) power plants ▲secondary batteries ▲biopharmaceuticals and food additives ▲cosmetics and perfume glass containers ▲automotive parts, covering a wide range from national key industries to pharmaceuticals and food.

The nationalities of foreign-invested companies also increased more than twofold from 8 countries during the 6th term to 17 countries currently.

With Chungnam’s achievements in foreign investment attraction and export performance, the province ranked 2nd nationwide in Gross Regional Domestic Product (GRDP) and 1st nationwide in trade balance, excelling in major economic indicators.

Yang Seung-jo, Governor of Chungnam Province, said, “Foreign-invested companies are reliable partners of the regional economy,” and shared the achievements by adding, “Because there were companies that believed in Chungnam’s potential and joined hands, good jobs increased and the region was able to leap forward.”

He also stated, “The province will continue to spare no effort in providing multifaceted support to build an environment that is favorable for foreign companies to invest and for businesses to operate.”

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