Pyeongtaek City Attracts Hanwha Aerospace Investment in Brain City

Electric Propulsion System Production Facility on 14,694㎡

Pyeongtaek City in Gyeonggi Province has attracted Hanwha Aerospace's production facility to the Brain City general industrial complex.

On the 26th, Pyeongtaek City announced that on the 25th, it signed an investment agreement with Hanwha Aerospace at the City Hall External Cooperation Office. According to the agreement, Hanwha will build an electric propulsion system production facility on an industrial site of 14,694㎡ within Brain City.

At the investment agreement ceremony held at Pyeongtaek City Hall on the 25th, Jeong Jang-seon (center), Mayor of Pyeongtaek, and Shin Cheol-won (second from the left), Head of Hanwha Aerospace MDS Division, are holding up the agreement document.
[Photo by Pyeongtaek City]

Brain City is an industrial complex being developed on a 4.82 million㎡ site in Doil-dong, Pyeongtaek City. The complex will include industrial sites, support facility sites, residential sites, and university facility sites. It is scheduled to be completed by the end of next year.

The city expects that by attracting Hanwha's production facility, it will not only create a synergistic cooperation effect with tenant companies in the secondary battery and hydrogen industry sectors but also enhance the city's industrial competitiveness by attracting the aerospace industry in addition to its strategic industries such as semiconductors, hydrogen, and future automobile industries. Additionally, through employment of about 100 people, it is anticipated that a win-win system can be established where the local community and companies grow together.

Meanwhile, earlier in July, the city also signed an investment agreement with Top Material, a secondary battery material parts manufacturer specializing in high-performance electrodes and next-generation cathode materials, to build a production facility within Brain City. Top Material plans to invest approximately 50 billion KRW to establish a new factory of 13,878㎡ in Brain City and employ about 100 people.

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