Changwon Special City Attracts 70 Billion KRW Investment for Future Car Transition... Operates Investment Promotion Hall
Agreement on 'Battery Pack Facility Investment' at Gyeongnam Province Investment Promotion Briefing
On the 26th, Changwon Special City in Gyeongnam signed an agreement with KG Mobility and KG Steel for an investment of 70 billion KRW and the creation of 100 permanent jobs at the '2023 Gyeongsangnam-do Investment Attraction Briefing'.
Changwon Special City attracted an investment of 70 billion KRW from two companies.
View original imageThis agreement was signed as a four-party joint agreement between Park Wan-su, Governor of Gyeongsangnam-do, Jang Geum-yong, 1st Vice Mayor of Changwon City, Jung Yong-won, CEO of KG Mobility, and Park Sung-hee, CEO of KG Steel. It was conducted as part of Chairman Kwak Jae-seon's announcement at the KG Mobility Future Strategy Conference in September, where the decision was made to invest in in-house production of battery packs and to strengthen electric vehicle competitiveness through internalization of battery pack manufacturing technology.
KG Mobility plans to start this investment by replacing the production space for internal combustion engines, which was halted at the Changwon plant, with battery pack production facilities. Through focused development in the electric vehicle mobility technology sector, the company aims to enhance the competitiveness of its products both domestically and internationally.
At the investment briefing held with about 300 attendees including CEOs from metropolitan area companies, Changwon City operated an investment attraction promotion center, conducted one-on-one on-site consultations, and provided customized investment consulting, turning the event into an opportunity to attract potential investment companies.
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Jang Geum-yong, the 1st Vice Mayor, said, “Despite the difficult internal and external circumstances, we appreciate the proactive investment decision to prepare for future growth engines. Changwon City will also actively strive to establish an investment-friendly environment for related production bases to enhance the competitiveness of the future car transition parts industry.”
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