Chungnam Attracts '18 Companies and 428.2 Billion KRW' to 6 Cities and Counties
[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has attracted 18 companies to 6 cities and counties including Cheonan. These companies plan to invest 428.2 billion KRW to establish new or expand existing production facilities or relocate to Chungnam.
On the 15th, the province announced that Governor Kim Tae-heum of Chungnam, Mayor Park Sang-don of Cheonan, and heads (or deputy heads) of 6 cities and counties, along with representatives of 18 companies, signed investment agreements at the Chungnam Provincial Office.
According to the agreement, each company will establish production facilities on a total site area of 300,885㎡ in industrial complexes across the 6 cities and counties. Among them, 13 companies will build new or expand factories, 4 companies will relocate, and 1 company will return from overseas to domestic production.
The participating companies (investment scale) are ▲ secondary manufacturing equipment company ‘Apro (100 billion KRW)’ ▲ industrial cleaning agent company ‘JHC (22 billion KRW)’ ▲ printing ink company ‘Dongyang Ink (17.5 billion KRW)’ ▲ electron accelerator company ‘EB Tech (17 billion KRW)’ ▲ semiconductor chemical company ‘LK Chem (14 billion KRW)’ ▲ cosmetics company ‘Incos (10 billion KRW)’ ▲ plating and surface treatment company ‘DS Engineering (6.8 billion KRW)’ ▲ PVC film for flooring and furniture company ‘Nova Smart Korea (14.8 billion KRW)’ ▲ steel structure company ‘Cheonji Plant Industry (8.5 billion KRW)’ ▲ logistics automation equipment company ‘Hantec (20 billion KRW)’ ▲ eco-friendly denitrification agent company ‘SMC Chemical’ ▲ agricultural corporation ‘Mirae (4.2 billion KRW)’ ▲ new automobile bumper company ‘Dongho Automotive (70 billion KRW)’ ▲ modular construction company ‘Yuchang ENC (50 billion KRW)’ ▲ aluminum alloy company ‘Bugae Metal (5 billion KRW)’ ▲ liquid crystal display company ‘Tovis (29.5 billion KRW)’ ▲ steel frame structure specialist ‘Seongji Tech (12.2 billion KRW)’ ▲ cosmetics liquid raw material company ‘S&P Global (6.7 billion KRW)’, etc.
The province expects that once these companies begin full-scale production, it will generate a production effect of 568.5 billion KRW and added value of 177.3 billion KRW.
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Governor Kim Tae-heum of Chungnam said, “The top priority of the 8th elected administration is to create a ‘strong economy in Chungnam.’ We will communicate and cooperate with companies with the belief that only when companies thrive can Chungnam thrive, so that investment, growth, recovery, and reinvestment can form a virtuous cycle.”
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