Cheonan City Attracts 2 Trillion Won in Corporate Investments This Year

This Year’s Investment Agreement Target Set at 3 Trillion Won
Simultaneous Development of 17 Industrial Complexes... Largest Scale Among Local Governments Nationwide

Chungnam Cheonan City signing a memorandum of understanding for investment with Osstem Implant last month.

Cheonan City in Chungnam has proven itself to be a 'business-friendly city' by signing the largest investment agreements in its history this year.

According to the city on the 24th, it has attracted a total of 12 companies and investments worth 2.17 trillion won by the third quarter of this year. These companies are expected to create a total of 1,691 new jobs, marking the largest scale since achieving 1 trillion won in corporate attraction in 2021.

Major investors include Taesung Co., Ltd., which signed an investment attraction contract worth 99.4 billion won on the 10th. On the 11th, at the Chungnam Provincial Government, the city signed investment memorandums of understanding totaling 1.4932 trillion won with five companies, including Nongshim Mibun Co., Ltd., Punglim Muyak Co., Ltd., and Nano Silicon Co., Ltd.

Previously, in February, the city signed investment MOUs with three companies: GN Co., Ltd., Songyeon SY Co., Ltd., and Seongsin General Distribution Co., Ltd. Last month, it also signed investment agreements with three more companies: Osstem Implant Co., Ltd., DuPont Specialty Materials Korea LLC, and Towa Korea Co., Ltd.

These companies will invest a total of 573.3 billion won to build new factories and facilities in the Northern BIT and Cheonan Technopark Industrial Complexes.

In response, Cheonan City has announced plans to focus on attracting core companies in key industries such as semiconductors and secondary batteries, aiming to achieve a total of 3 trillion won in corporate investment attraction.

Park Sangdon, mayor of Cheonan, visiting Shinsegae Food Cheonan Factory

Within the second half of the year, the city plans to sign an investment agreement worth 100 billion won with an anchor company in the secondary battery sector and is coordinating investment attraction totaling 1 trillion won with seven domestic and international companies in future mobility and food manufacturing.

The city is also accelerating the creation of new industrial complexes and industrial infrastructure to support these investment agreements.

By 2028, the city plans to invest over 5.5 trillion won from both private and public sectors to establish 17 industrial complexes, the largest scale among all local governments nationwide.

In particular, the city plans to develop the 'Cheonan Future Mobility National Industrial Complex' on the site of the relocated Livestock Resources Development Division. The goal is to create an advanced industrial complex centered on national strategic industries such as smart factories, semiconductors, and smart mobility.

Mayor Park Sangdon stated, "Signing the largest investment agreements in history proves that Cheonan is a business-friendly city," adding, "We will provide locations tailored to corporate demand to attract large and promising companies, as well as related secondary and tertiary partners, to Cheonan."

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