Gwangyang Economic Zone Authority Signs 35.8 Billion KRW Investment Agreement with Kumho Polychem

Construction of Smart Logistics Warehouse in Gwangyang Hwanggeum Industrial Complex

The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) announced on the 23rd that it signed an investment agreement worth 35.8 billion KRW with Kumho Polychem Co., Ltd. on the 19th.

This agreement involves the construction of a logistics warehouse to store functional rubber products in the Gwangyang Hwanggeum Industrial Complex, and it is expected to create about 60 new jobs after completion.

Kumho Polychem Co., Ltd. is the first domestic manufacturer of EPDM (functional rubber products) and has experienced steady growth since its establishment in 1987.

Currently, it produces 220,000 tons of EPDM annually, boasting the largest production volume in Asia and the third largest in the world.

Through this investment, Kumho Polychem Co., Ltd., which exports more than 80% of its products overseas, expects to secure sufficient shipping space and establish an advanced logistics system.

Song Sang-rak, Commissioner of the Gwangyang Economic Authority, stated, “This agreement is the result of close cooperation between the Gwangyang Economic Authority, Jeonnam Province, and Gwangyang City, and it is expected to greatly contribute to the growth of the Hwanggeum Industrial Complex and the revitalization of the local economy.” He added, “The Gwangyang Economic Authority will do its best to support Kumho Polychem Co., Ltd. for a successful leap forward.”

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