Gochang County Signs Investment Agreements Worth 190 Billion Won with Three Companies

Sonokong Materials, G-Tech, Daekyung AT

Three companies, including the nation's leading energy storage material manufacturer, as well as semiconductor material and electric/electronic component manufacturers, will invest 190 billion KRW in the Sin Hwalryeok Industrial Complex in Gochang-gun, North Jeolla Province.

According to the county on the 23rd, investment agreements were signed that morning at the provincial government conference room with Sonogong Materials Co., Ltd., G-Tech Co., Ltd., and Daekyung AT Co., Ltd.

On the 23rd, Gochang County signed individual investment agreements with Sonokong Materials Co., Ltd., G-Tech Co., Ltd., and Daekyung AT Co., Ltd. at the provincial office conference room. Provided by Gochang County

The signing ceremony was attended by Shim Deokseop, Mayor of Gochang-gun, Kim Kwan-young, Governor of North Jeolla Province, Choi Wonsik, CEO of Sonogong Materials, Kim Kyuhyun, CTO of G-Tech, and Yoo Jinyeol, CEO of Daekyung AT. The parties agreed to faithfully implement the terms of the agreement based on mutual trust.

Sonogong Materials plans to invest 163 billion KRW from May next year through 2027 in a 98,418.1 square meter (29,711 pyeong) unsold site within the Gochang Sin Hwalryeok Industrial Complex. The company aims to create over 160 jobs and produce 25,000 tons of lithium carbonate annually. Lithium carbonate is a key material for electric vehicles (EVs) and energy storage systems (ESS), and demand for it has recently surged.

G-Tech, which produces power semiconductor materials, has accelerated its investment following a three-party agreement with North Jeolla Province after its initial investment agreement with Gochang-gun in June 2023. The company plans to sign a land contract in January next year and begin full-scale operations in July, investing a total of 21 billion KRW by June 2026.

Daekyung AT, which manufactures electric and electronic components, will invest about 3.5 billion KRW in a 12,716 square meter (3,846 pyeong) unsold site within the Gochang Sin Hwalryeok Industrial Complex to produce electric and electronic components for automobiles and home appliances, as well as advanced equipment for smart greenhouses.

Notably, Daekyung AT aims to complete its Gochang facility by May next year, with visible investment results such as personnel recruitment expected within the year.

Kim Kwan-young, Governor of North Jeolla Province, stated, "We welcome the continued investment of high-tech companies following Samsung Electronics' investment in North Jeolla. We will provide full support to ensure that companies operating in North Jeolla Province experience no inconvenience and that resident companies in Gochang-gun can grow even further."

Shim Deokseop, Mayor of Gochang-gun, said, "Along with the Samsung Electronics Smart Hub Complex (tentatively named Smart Logistics Center), which aims to begin operations in 2027, we expect this to serve as a major catalyst for regional economic development and revitalization. With this investment agreement as a starting point, we will do our utmost to attract advanced ESG companies and achieve full occupancy of the Gochang Sin Hwalryeok Industrial Complex."

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