Hoengseong County Signs Factory Expansion Investment Agreement with Next Bio and Yuyu Healthcare

A Total Investment of 63.5 Billion Won
and Creation of 55 New Jobs

On September 10, Hoengseong County and Gangwon Province signed an investment agreement worth a total of 63.6 billion KRW with Nextbio Co., Ltd. and Yuyu Healthcare Co., Ltd. at the Gangwon Provincial Office regarding the expansion of the Hoengseong factory.

Kim Jin-tae, Governor of Gangwon Province (left), Kim Myung-ki, Mayor of Hoengseong County (right), Shin Eon-mu, CEO of Nextbio Co., and Yoo Kyung-soo, CEO of Yuyu Healthcare Co., signed an investment agreement worth a total of 63.6 billion KRW related to the expansion of the Hoengseong plant at Gangwon Provincial Office on the 10th. Provided by Hoengseong County

The investment agreement ceremony was attended by Jin Tae Kim, Governor of Gangwon Special Self-Governing Province, Myung Ki Kim, Mayor of Hoengseong County, Chang Su Han, Gangwon Provincial Assembly member, Unmu Shin, CEO of Nextbio Co., Ltd., Kyung Su Yoo, CEO of Yuyu Healthcare Co., Ltd., and approximately 15 others.

Nextbio Co., Ltd. (CEO Unmu Shin), a premium coffee extract producer, will invest 46.1 billion KRW to build a second factory covering 7,335 square meters in the Ucheon Second Agro-Industrial Complex. The company plans to hire an additional 40 employees, bringing the total number of employees to 102, and aims to enhance its ability to meet domestic and international demand by expanding its production line and upgrading its facilities.

In addition, Yuyu Healthcare Co., Ltd. (CEO Kyung Su Yoo), a health functional food manufacturer, will invest 17.5 billion KRW to expand its existing factory by 5,828 square meters in the Ucheon General Industrial Complex. The company plans to create a total of 114 jobs, including 15 new hires, and will strengthen its equipment competitiveness by establishing softgel and liquid production lines to better respond to diverse consumer needs.

The combined investment from the two companies amounts to 63.5 billion KRW, creating 55 new jobs. This is expected to strengthen the foundation of the food and healthcare industries and invigorate the local economy.

Mayor Myung Ki Kim stated, "We expect that increased investment by outstanding small and medium-sized enterprises will create a virtuous cycle that leads to local job creation and revitalization of the industrial ecosystem. We will spare no administrative and financial support to ensure that both companies and the region can grow together."

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