Daejeon City Secures First Investment of 56.2 Billion KRW from 4 Companies in 8th Elected Term

Lee Jang-woo, Mayor of Daejeon (third from the left), is taking a commemorative photo after signing an investment agreement worth 56.2 billion KRW with representatives of four companies at Daejeon City Hall on the 12th. Photo by Daejeon City

[Asia Economy (Daejeon) Reporter Jeong Il-woong] On the 12th, Daejeon City announced that it signed an investment agreement worth 56.2 billion KRW with four companies: Innertron Co., Ltd., iBL Photonics Co., Ltd., CEO Ko Jae-deok of CITRA Co., Ltd., and Vinoc Co., Ltd. at City Hall.

This investment attraction marks the first achievement of the 8th term of the elected administration.

Innertron, which signed the investment agreement, is a company that develops and produces core components used in global mobile communication base station systems, and plans to invest 30 billion KRW to relocate to Ansan Advanced Defense Industrial Complex.

Previously, this company was consecutively selected as one of the ‘2020 National Representative Innovative Companies 1000’ and ‘2022 Top SoBuJang (Materials, Parts, and Equipment) Company.’

iBL Photonics is a company that developed medical ultrasound piezoelectric devices and military underwater acoustic sensor piezoelectric materials, planning to invest a total of 8.4 billion KRW to establish a base in the Ansan Advanced Defense Industrial Complex. This company was selected as a Top SoBuJang Company last year and is currently receiving customized corporate support from the Ministry of Trade, Industry and Energy.

CITRA is a global aviation parts specialist company that plans to invest 5.8 billion KRW to relocate to the Ansan Advanced Defense Industrial Complex.

Vinoc, which entered the optical lens field and operates in eyeglass lenses and AR (Augmented Reality) optical lenses, plans to expand and relocate to Daedeok-gu. The planned investment scale of this company is 12 billion KRW.

The city expects that the agreement with these four companies will create about 190 new jobs.

Lee Jang-woo, Mayor of Daejeon, said, “The companies participating in the investment agreement will be a key driving force for Daejeon’s growth into a first-class economic city.” He added, “The city will actively strive to secure 5 million pyeong of industrial land and attract many promising companies that can create quality jobs.”

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