Gwangyang Economic Zone Authority Signs Large-Scale Investment Agreement for Secondary Battery in Hadong District

L&F Co., Ltd. Invests 600 Billion Won

Expecting Regional Economic Revitalization with 400 Job Creations

The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) announced on Wednesday, September 20, that it signed an investment agreement at the Gyeongsangnam-do Provincial Government Office meeting room with officials from Gyeongsangnam-do, Hadong-gun, and L&F Co., Ltd.

About 50 officials attended the agreement ceremony, including Kim Byung-kyu, Deputy Governor for Economic Affairs of Gyeongsangnam-do, Choi Soo-an, CEO of L&F Co., Ltd., Ha Seung-cheol, Mayor of Hadong-gun, and Song Sang-rak, Commissioner of Gwangyang Economic Authority.

[Photo by Gwangyang Economic Promotion Agency]

L&F Co., Ltd. is a company that produces cathode active materials for secondary batteries and related materials, as well as manufactures accumulators, and decided on this investment to expand its business in the secondary battery sector.

L&F plans to invest 600 billion KRW by 2028 on approximately 200,000㎡ of land in Daesong Industrial Complex, Hadong-gun. Through this, it is expected to create about 400 new jobs, establishing a foundation for corporate growth and playing a significant role in revitalizing the local economy.

Song Sang-rak, Commissioner of Gwangyang Economic Authority, said, “This agreement is the result of joint cooperation among the three institutions: Gwangyang Economic Authority, Gyeongsangnam-do, and Hadong-gun. It will serve as a catalyst for growth in the Hadong district and greatly contribute to the revitalization of the local economy.” He added, “The Gwangyang Economic Authority will do its utmost to support the company so that L&F can successfully take off.”

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