Chungnam Province Attracts Investment of 861.7 Billion KRW from 17 Companies

Chungnam Province has attracted investments worth 861.8 billion KRW from 17 companies in key local industries.

On the 18th, Chungnam Province announced that Governor Kim Tae-heum, heads and deputy heads of five cities and counties including Cheonan, and company representatives met at the Chungnam Provincial Office to sign investment agreements.

Governor Kim Tae-heum of Chungnam Province is taking a commemorative photo with company representatives after holding a corporate investment agreement ceremony at the Chungnam Provincial Office on the 18th. Photo by Chungnam Province

According to the agreement, companies will either establish new production facilities, expand existing ones, or relocate within industrial complexes located in Cheonan, Asan, Seosan, Hongseong, and Yesan, covering a total area of 325,082㎡, from this year through 2031. Among the companies signing the agreement, some are returning from overseas to Korea.

First, in Cheonan, Lotte Wellfood will invest 222 billion KRW to expand its existing factory on a 20,273㎡ site in the 2nd General Industrial Complex.

Kolon Glotech, returning from China to Korea, will invest 20.5 billion KRW to expand production facilities on a 4,080㎡ individual site in Ipjang-myeon, Seobuk-gu, while Poltree will invest 8.5 billion KRW to relocate its Cheongju factory to a 23,642㎡ individual site in Dongmyeon, Dongnam-gu.

In Asan, SFA will invest 60 billion KRW to expand its factory on a 13,444㎡ site in Dunpo 2nd Agricultural and Industrial Complex, and Three Nine will invest 35 billion KRW to relocate its Ansan factory to a 24,078㎡ individual site in Inju-myeon.

PMT will invest 30 billion KRW to expand its factory on a 3,300㎡ site in Asan Digital General Industrial Complex, and KBI Dongguk Industrial will invest 15 billion KRW to expand its factory on a 6,342㎡ individual site in Seonjang-myeon.

Juan Tech will also invest 20 billion KRW to relocate its Anseong factory to a 24,102㎡ individual site in Sinchang-myeon.

In Tangjeong Techno General Industrial Complex, Plastal will invest 20 billion KRW to establish a new factory on a 7,326㎡ site, and Jangcom MS will invest 10 billion KRW to establish a new factory on a 6,410㎡ site.

In Eumbong General Industrial Complex, Company A will invest 13 billion KRW to relocate its Yongin factory to a 9,365㎡ site. Additionally, Mugunghwa L&B will invest 7 billion KRW to establish a factory on a 4,942㎡ site, and Geukdong Display will invest 5 billion KRW to establish a factory on a 3,514㎡ site.

In Seosan, NLT will invest 23.3 billion KRW to establish a factory on a 23,070㎡ site in the Industry Valley Industrial Complex, and in Hongseong, the Korea Chemical Convergence Testing Institute Foundation plans to invest 18 billion KRW to expand its research center on a 20,291㎡ site.

Furthermore, in Yesan 2nd General Industrial Complex, Baekkwang Industry will invest 330.4 billion KRW to establish a factory on a 105,786㎡ site, and SD Korea will invest 24 billion KRW to relocate its factory from Hwaseong.

Chungnam Province expects that when these companies begin full-scale production, there will be production effects worth 592.8 billion KRW, added value effects of 162.1 billion KRW, and employment creation effects of 1,094 jobs.

Governor Kim Tae-heum of Chungnam Province stated, “Through relocating companies, Chungnam will enhance the competitiveness of key local industries such as semiconductors, automobiles, and advanced materials, securing future growth engines. Chungnam Province will vigorously support investment companies by providing swift permit processing and financial assistance so that they can write a new success story.”

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