Pyeongtaek City "Achieved Investment Attraction of 1.1 Trillion Won with 18 Companies Last Year"

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Pyeongtaek City in Gyeonggi Province attracted corporate investments exceeding 1.1 trillion won last year despite challenging domestic and international economic conditions.

Pyeongtaek City announced that it signed memorandums of understanding (MOUs) with 18 companies over the past year, securing investments worth 1.12 trillion won. The city added that this is expected to create approximately 2,630 new jobs.

Last November, at the investment attraction briefing held by Pyeongtaek City, Mayor Jeong Jang-seon explained the corporate investment environment to participating companies. The city attracted corporate investments totaling 1.12 trillion won throughout last year. Photo by Pyeongtaek City

Accordingly, since the launch of the 8th local government administration, the city has signed 37 MOUs with domestic and foreign companies, achieving a total investment attraction of 4.57 trillion won, the city explained.

Last year’s investment attraction focused on advanced industries such as semiconductors and secondary batteries. Starting with a 50.2 billion won investment agreement with JO Tech in February, the city consecutively signed agreements with Kyungdong Polyum, Hanwha Aerospace, Top Material, Husso Korea, and others.

Investments were also attracted from overseas. In May last year, through overseas business trips, the city secured investment agreements worth 133 billion won from two companies including UL Solutions. These companies plan to conduct semiconductor-related businesses in the Pyeongtaek Foreign Investment Industrial Complex in the future.

The investment attraction briefing sessions, which had been halted due to COVID-19, were also resumed. In particular, the 'Semiconductor Specialized Complex Investment Cooperation Briefing' held in October last year invited 11 overseas semiconductor companies to tour the Samsung Electronics Pyeongtaek Campus, explain Pyeongtaek’s industrial investment environment, and build business networking among companies.

Jung Jang-seon, mayor of Pyeongtaek, said, "The steady signing of investment agreements despite the global recession is because Pyeongtaek is a business-friendly city." He added, "Thanks to the active promotion of advanced industries such as semiconductors, hydrogen, and future vehicles, the well-established transportation network, and the city’s proactive support, we were able to achieve good investment attraction results last year." Mayor Jung also stated, "We will establish a basic investment attraction plan for the rapidly growing artificial intelligence (AI) industry to attract investments from related companies."

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