Chungnam, 4 Companies Including SB Jeonggong Co., Ltd. Attract 69.9 Billion KRW Investment

Yang Seung-jo, Governor of Chungcheongnam-do, is taking a commemorative photo with representatives of the contracted companies after signing an investment agreement at the Chungcheongnam-do Provincial Office on the 11th. Photo by Chungcheongnam-do

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province has attracted investments worth 69.9 billion KRW from four companies, including SB Jeonggong Co., Ltd.

On the 11th, Chungnam Governor Yang Seung-jo, Boryeong Mayor Kim Dong-il, Asan Mayor Oh Se-hyun, Seosan Mayor Maeng Jeong-ho, SB Jeonggong CEO Park Yong-hoon, Hallim CEO Kim Yong-tae, Daehan Engineering CEO Lee Rae-yong, and During CEO Go Jin-seong met and signed an investment agreement reflecting this.

The agreement centers on the relocation or establishment of factories by the four companies on a 141,703㎡ site in agricultural and general industrial complexes in Boryeong, Asan, and Seosan. This is expected to create 610 new jobs.

The province anticipates that once these companies begin full-scale production, there will be a production effect of 23.5 billion KRW and a value-added effect of 7.3 billion KRW within the province.

Additionally, the effects from construction activities such as site development and equipment purchases by these companies are expected to generate induced production of 96.6 billion KRW and induced value-added of 34.9 billion KRW.

Chungnam Governor Yang Seung-jo said, “In a situation where the local economy is stagnating due to the prolonged COVID-19 pandemic, this investment attraction will be great news that brings comfort to the residents,” adding, “I hope this agreement will serve as a new impetus for both Chungnam and the four companies.”