Changwon Special City Signs Investment Agreement Worth 24.9 Billion KRW with ModernTech

Expansion and Relocation of Business Sites and Facility Investment in Changwon Dongjeon General Industrial Complex

On the 13th, Changwon Special City in Gyeongnam signed an investment agreement with ModernTech at the city hall reception room for an investment amount of 24.9 billion KRW and the creation of 20 new jobs.

Six officials, including Hong Nampyo, Mayor of Changwon Special City, and Kim Seongdu, CEO of ModernTech, attended the agreement ceremony, agreeing to make efforts for regional economic development and job creation through close cooperation between the two parties.

ModernTech, which signed a North American export contract worth over 1 trillion KRW in February last year, has seen a rapid increase in domestic and international orders for electric vehicle chargers, necessitating expansion of its business site. After considering several candidate locations, it was finally decided to relocate and expand the current site in Techno Valley, Uichang-gu, to the Dongjeon General Industrial Complex.

Changwon Mayor Hong Nampyo (left) and Kim Seongdu, CEO of ModernTech, are posing for a commemorative photo after signing an investment agreement.

Established in 2006, ModernTech is a specialized company in electric vehicle charging infrastructure, possessing charging technology utilizing renewable energy and energy storage systems (ESS). It has attracted attention by developing the unmanned robot charger "Modernboy," a convenience facility for transportation-vulnerable groups.

CEO Kim said, “We decided on this investment considering the city's active investment attraction activities and Changwon's competitive business environment. We will continue to strive to develop together with the local community as a hometown company of Changwon.”

Mayor Hong said, “We appreciate ModernTech’s decision to invest in Changwon as it proactively challenges the electric vehicle charging infrastructure market, a blue ocean in the global market,” and added, “We will actively provide administrative support to ensure the company’s investment proceeds smoothly.”

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