Chungnam Attracts Investment of '13 Companies and 306.8 Billion KRW' in 5 Cities and Counties

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province has attracted 13 companies to five cities and counties including Cheonan. These companies plan to invest 306.8 billion KRW to establish new or expand existing production facilities or relocate them to Chungnam.

According to the province on the 7th, Chungnam Governor Kim Tae-heum signed investment agreements with the heads and deputy heads of five cities and counties including Cheonan Mayor Park Sang-don, as well as representatives of 13 companies.

Under the agreement, the companies will set up production facilities on an industrial complex site of 344,731㎡ located in Cheonan, Dangjin, Boryeong, Gyeryong, and Nonsan.

Among them, seven companies will establish new or expanded production facilities, and six companies will relocate their production facilities from places such as Anseong and Pyeongtaek to Chungnam. The total number of new jobs created is expected to be 830.

The companies settling in Chungnam (investment amount) are ▲ secondary battery electrolyte and additive company ‘Enchem (50.3 billion KRW)’ ▲ automotive electronic parts company ‘Ewha Diecasting (26.6 billion KRW)’ ▲ semiconductor and display manufacturing equipment company ‘Device ENG (49.2 billion KRW)’ ▲ gas separation membrane specialized manufacturer ‘Airrain (12.0 billion KRW)’ ▲ steel wire and steel frame company ‘Geumha S&C (7.8 billion KRW)’ ▲ wet tissue and diaper company ‘Mirae Saenghwal (22.0 billion KRW)’ ▲ corrugated cardboard box company ‘Daeseung Pack (8.0 billion KRW)’ ▲ stocking company ‘Shinyoung Stocking (13.0 billion KRW)’ ▲ hot dog company ‘Myeongrang Sidae Food Service Youth Startup Cooperative (5.0 billion KRW)’ ▲ plant auxiliary equipment company ‘ESD Plantec (40.0 billion KRW)’ ▲ rebar processing company ‘Uju Steel (8.9 billion KRW)’ ▲ eco-friendly carbon black company ‘LD Carbon (50.0 billion KRW)’ ▲ vehicle polish company ‘Kangaroo (14.0 billion KRW)’.

The province expects that once these companies fully operate their production facilities, a production effect of 440.4 billion KRW and a value-added effect of 143.3 billion KRW will be generated.

Chungnam Governor Kim Tae-heum said, “We are grateful to the companies that decided to invest in Chungnam despite adverse conditions such as the spread of COVID-19 and interest rate hikes,” and added, “The province will spare no support so that the 13 companies can grow together and enhance their competitiveness in Chungnam.”

Meanwhile, the province achieved an investment attraction performance of 2.6468 trillion KRW from 35 companies this year (the 8th term of local government).

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