Daejeon City Attracts Investment from Four Defense and Foreign-Invested Companies

Aerial view of Daejeon Ansan Advanced Defense Industry Complex. Provided by Daejeon City.

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City has attracted four companies, including defense firms and foreign-invested enterprises.

On the 16th, the city announced that Kim Myung-soo, Vice Mayor for Science, signed investment agreements at City Hall with Seo Sang-hong, CEO of Gwangwoo Co., Ltd., a defense-related specialized company; Jeong Jin-ho, CEO of Doositec Co., Ltd.; Chae Eun-kyung, CEO of EuclidSoft Co., Ltd.; and Lee Joo-eun, CEO of foreign-invested company Ales Ltd.

According to the agreement, the three defense-related companies including Gwangwoo will relocate their headquarters, factories, and research centers to the Ansan Advanced Defense Industrial Complex, while Ales will move into the complex-type foreign investment zone within the Dungok International Science Business Belt.

The total investment scale amounts to 45.2 billion KRW (32.9 billion KRW from the three defense-related companies and 12.3 billion KRW from the one foreign-invested company), and the expected number of new jobs created through corporate attraction and investment is estimated at 335.

Kim Myung-soo, Vice Mayor for Science of the city, stated, “We will spare no administrative and financial support to ensure that the companies that decided to invest in Daejeon can carry out their investments as planned.”

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