Hwaseong City Attracts 22.6 Trillion Won in Investment During 8th Term, Far Surpassing 20 Trillion Won Target

Large-Scale Investments Pour In from ASML, Samsung Electronics, and Shinsegae International Theme Park
Mayor Jung Myunggeun: "We Will Build a City Where People Can Pursue Their Dreams at World-Class Companies"

Hwaseong City in Gyeonggi Province has achieved 22.6 trillion won in investment attraction, far surpassing the target set for the 8th term of the local government.

According to Hwaseong City on December 4, as of the end of last month, the total amount of investment attracted during the 8th term reached 22.5912 trillion won. This amount significantly exceeds the original target of 20 trillion won that the city set in June.

Samsung Electronics Hwaseong Plant. Since the start of the 8th term of the local government, Hwaseong City has achieved the remarkable result of attracting investments totaling 2.259 trillion won, far exceeding the initial target of 2 trillion won. Provided by Hwaseong City

The Gross Regional Domestic Product (GRDP) of Hwaseong City stands at 95.1507 trillion won, approaching the 100 trillion won mark. This is the highest among all basic local governments nationwide. With large-scale investments continuing during the 8th term, there are projections that Hwaseong City's share of the national economy will increase even further.

Investment attraction during the 8th term covers a wide range of fields, including advanced sectors such as semiconductors, future mobility, and bio, as well as tourism. For this reason, the city expects not only quantitative urban growth but also qualitative expansion of its industrial portfolio.

During this period, investments by major corporations to establish a foundation for new growth reached 4.12 trillion won. Key investments include: the construction of a data center at the Samsung Electronics Hwaseong Campus; the establishment of a purpose-built vehicle (PBV) plant and special vehicle cluster at Kia Autoland Hwaseong; and expanded research and development investments at Hyundai Motor and Kia Technical Research Institutes. In addition, Daewoong Pharmaceutical's third Nabota plant and Daewoong Bio's expansion of finished pharmaceutical and medical device production facilities represent further investments in bio manufacturing.

A total of 8.8777 trillion won was invested in the creation of large-scale clusters for future industries. This includes the first phase of the Hwaseong International Theme Park, expansion of hydrogen integrated energy power plants, attraction of companies to national and general industrial complexes, increased allocation of industrial capacity, and the aggregation of knowledge industry centers. The city is also accelerating the establishment of a fourth industrial revolution base, such as attracting an autonomous driving living lab demonstration city.

In the semiconductor sector, the city attracted 729.8 billion won in investment. Notable examples include the construction of ASML’s Hwaseong Campus, a company specializing in extreme ultraviolet (EUV) lithography equipment, and the establishment of ASM’s Innovation Manufacturing Center. Tokyo Electron Korea has also worked to expand research and education infrastructure in Hwaseong.

In addition, the city attracted 8.8637 trillion won in investments from companies in the service, healthcare, and smart logistics sectors.

Aerial view of Hwaseong International Theme Park. Since the beginning of the 8th term of the local government, Hwaseong City has been praised for laying the foundation for qualitative growth by attracting investments in various fields, including advanced industries and tourism. Provided by Hwaseong City

The city plans to continue its aggressive investment attraction activities next year, the final year of the 8th term, with the goal of achieving more than 25 trillion won in total investment during the current administration. To this end, the city will focus on attracting promising companies to available sites and proactively invite businesses to industrial complexes currently under development, such as Songsan Green City National Industrial Complex, Asan (Ujeong) National Industrial Complex, and H-Techno Valley, thereby strengthening its industrial base.

Jung Myunggeun, Mayor of Hwaseong City, stated, "The achievement of large-scale investment attraction is thanks to the dedication of citizens and public officials who worked tirelessly to persuade companies and lay the groundwork for investment. We will solidify a virtuous cycle where attracting companies leads to the creation of quality jobs and revitalization of the local economy, and create a city where young people and children can pursue their dreams at world-class companies in Hwaseong."

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