16 Domestic Companies Invest 560.8 Billion KRW in Chungnam

Chungnam Province Signs Investment Agreement with 16 Companies
Investing 560.8 Billion Won by 2027
Establishing Production Facilities in 8 Cities and Counties Including Cheonan

Sixteen domestic companies in fields such as automobile parts and secondary batteries will invest 560.8 billion KRW in Chungnam to relocate or expand their production facilities.

At the corporate investment agreement ceremony held at Chungnam Provincial Government Office on the 19th, attendees are taking a commemorative photo. Provided by Chungnam Province

On the 19th, Chungnam Province announced that Governor Kim Tae-heum, Cheonan Deputy Mayor Kim Seok-pil, and heads (or deputy heads) of eight cities and counties, along with representatives of 16 companies, signed investment agreements.

The agreements primarily involve the 16 companies relocating or expanding factories on approximately 340,000 pyeong of land in industrial complexes across eight cities and counties from this year through 2027.

The companies that signed agreements with Chungnam Province include ▲ G&E (expansion of factory in Jiksan-eup, Cheonan) ▲ Songyeon SY (relocation from Pyeongtaek to Bukbu BIT Industrial Complex, Cheonan) ▲ Seongsin General Distribution (relocation from Ansan to Seongnam-myeon, Cheonan) ▲ Igeon (expansion of factory in Gwanchang General Industrial Complex, Boryeong) ▲ Phreenix (new factory in Eumbong General Industrial Complex, Asan) ▲ Hannatech (new factory in Eumbong General Industrial Complex, Asan) ▲ Cheongmyeong (new factory in Seosan Technovalley General Industrial Complex) ▲ Poongsan F&S (new factory in Gwangseok-myeon, Nonsan) ▲ Haewon Biotech (relocation of factory in Noseong Agricultural and Industrial Complex, Nonsan) ▲ Songwoo EMI (new factory in Seokmun National Industrial Complex, Dangjin) ▲ Daehan Cable (expansion of factory in Godae District, Asan National Industrial Complex) ▲ ASTEC (expansion of factory in Janghang National Ecological Industrial Complex, Seocheon) ▲ Pollins (relocation from Gwangju to Janghang National Ecological Industrial Complex, Seocheon) ▲ Stex (relocation from Hwaseong to Naepo Urban High-tech Industrial Complex, Hongseong) ▲ KP Corporation (relocation from Boryeong to Eunha Agricultural and Industrial Complex, Hongseong) ▲ Cheonil Food (expansion of factory in Gwangcheon Kim Specialized Agricultural and Industrial Complex, Hongseong).

Chungnam Province expects that once these companies begin full-scale production, there will be a production effect of 655.8 billion KRW, a value-added effect of 195 billion KRW, and employment creation of 946 jobs.

Governor Kim Tae-heum of Chungnam Province said, “Based on these agreements, Chungnam will enhance the competitiveness of key regional industries such as automobiles, secondary batteries, and advanced materials, securing future growth engines. Chungnam Province will create a business-friendly environment to support the growth of local resident companies.”

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