Ansan City Drives Expanded Investment from KOSDAQ-Listed Stormtech Co., Ltd.

Beyond the Construction of a Second Factory: Relocation of Headquarters and R&D Functions
Emerging as a Hub for Advanced Manufacturing
Proving Competitiveness as a Business-Friendly City

Ansan City in Gyeonggi Province is accelerating its efforts to attract outstanding companies, focusing on building an advanced manufacturing industry ecosystem and production automation based on the manufacturing infrastructure of the Banwol and Sihwa Industrial Complexes.

Mayor Min-Keun Lee of Ansan City held a meeting on the 24th at Ansan City Hall regarding the investment in the construction of the second factory with StormTech Co., Ltd. Provided by Ansan City

On the 26th, Ansan City (Mayor Lee Mingun) announced that it has successfully induced a mid- to long-term investment expansion, including the relocation of headquarters and R&D functions, following the proposal from Stormtech Co., Ltd., a KOSDAQ-listed company, to invest in the construction of a second factory.

Stormtech Co., Ltd. was established in 1999 and has grown as a KOSDAQ-listed company specializing in the research, development, and manufacturing of core components for household water purifiers. Its main products include fittings, valves, faucets, tubing, and assembly products that form the internal flow paths of water purifiers. The company has established the only comprehensive parts portfolio in Korea and holds the top market share in the domestic fittings sector.

Stormtech Co., Ltd. maintains stable business relationships with numerous global and domestic major home appliance manufacturers. As of 2024, the company recorded annual sales of KRW 61.7 billion, operating profit of KRW 13.9 billion, and employs 208 people, demonstrating its status as a solid company.

This investment will take place at 818 Wonsi-dong, within the Banwol Industrial Complex designated as the Ansan Smart Green Industrial Complex. It includes the construction of a seven-story factory and the establishment of production automation facilities.

Notably, the city guided the investment beyond a simple expansion of production facilities by comprehensively presenting its industrial infrastructure and corporate support environment, resulting in an expanded mid- to long-term investment, including the relocation of headquarters and R&D functions.

This outcome is attributed to Ansan City's industrial competitiveness, such as being the largest manufacturing cluster in Korea, the foundation of the Smart Green Industrial Complex, excellent transportation accessibility, and a swift administrative support system, all of which significantly influenced the company's strategic investment decision.

Previously, during meetings with the company, the city presented the status of the Gyeonggi Free Economic Zone project, investment incentives, and support plans tailored to each stage of corporate growth, engaging in strategic discussions aligned with Stormtech Co., Ltd.'s mid- to long-term investment direction.

Mayor Lee Mingun stated, "This investment is more than just the construction of a new factory; it will serve as a major milestone for Ansan in emerging as a hub for advanced manufacturing and production automation. Going forward, we will continue to create an environment in which companies can invest with confidence, leading to the creation of quality jobs and the vitalization of the local economy."

Based on this case, Ansan City plans to further strengthen its customized investment attraction strategies. By attracting headquarters and R&D functions, the city expects to enhance industrial competitiveness, create new jobs, attract partner companies, and generate positive ripple effects throughout the local economy.

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