Changwon Special City Attracts 270.8 Billion KRW Investment During 50th Anniversary Week of Changwon National Industrial Complex

On the 25th, Changwon Special City in Gyeongnam signed an investment agreement worth a total of 270.8 billion KRW with leading aerospace defense and precision machinery companies Hanwha Aerospace, Hanwha Precision Machinery, and DN Solutions, located within the Changwon National Industrial Complex, at the Changwon Convention Center.

Changwon Special City attracts 270.8 billion KRW investment from precision machinery and aerospace defense companies.

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The signing ceremony, held in conjunction with the 50th anniversary celebration of the designation of the Changwon National Industrial Complex, was attended by Jang Geum-yong, the 1st Deputy Mayor of Changwon City; Kim Myung-joo, Deputy Governor for Economy of Gyeongnam Province; Lee Kwang-min, Head of Aerospace Business at Hanwha Aerospace; Kim Seong-gu, Head of Changwon Plant at Hanwha Precision Machinery; and Bae Gyu-ho, Senior Vice President of DN Solutions, who agreed on close cooperation for the development of the Changwon National Industrial Complex and the regional economy.

DN Solutions is a representative company leading the machine tool market, having grown to be the No. 1 domestic and No. 3 global player by accumulating high technology over the past half-century since starting self-development of NC lathes in 1980.

DN Solutions plans to invest 113 billion KRW to establish a production base for high-end models expected to grow at an annual rate of over 9%, by expanding its current factory and building dedicated facilities such as ultra-precision 5-axis machining centers, and to hire 143 new employees. This investment is expected to significantly contribute to strengthening the manufacturing base of high value-added industries such as automotive, aerospace, and IT, and to securing domestic manufacturing competitiveness through localization of expensive imported equipment.

Hanwha Aerospace will invest 59.1 billion KRW by 2025 to expand production facilities at its current site and hire 30 new employees to secure mid- to long-term production capacity and establish a foundation for advanced aircraft engine development, following the localization of the engine for Korea’s next-generation fighter jet ‘KF-21’.

Hanwha Aerospace is a global defense company and specialized aircraft engine manufacturer that began producing the ‘J79’ engine for the Air Force F4 fighter jet in 1979 and has produced a total of 10,000 engines over 45 years. This investment is expected to serve as a stepping stone for K-space, aerospace, and defense industries to leap forward globally.

Hanwha Precision Machinery will invest 98.7 billion KRW by 2025 to purchase land and factories at its current site and expand manufacturing buildings to continuously expand its semiconductor business, including improving SMT production capacity and entering new semiconductor process equipment businesses.

Hanwha Precision Machinery started the SMT chip mounter business for the first time in Korea in 1989 and, after acquiring Hanwha Momentum’s entire semiconductor process equipment business in January, has become a next-generation manufacturing equipment solution company covering the entire semiconductor front-end and back-end equipment business. Industrial equipment such as SMT and machine tools account for about 90%, and semiconductor equipment about 10%, so the company plans to continue investing to expand its next-generation semiconductor equipment business.

Deputy Mayor Jang said, “I deeply appreciate that three leading companies of the Changwon National Industrial Complex have decided on large-scale investments at this meaningful time when we are reflecting on the past 50 years and preparing for the next 50 years of the complex,” and added, “We will do our best to provide administrative support for corporate investments so that companies and the Changwon National Industrial Complex can grow together through this investment.”

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