Gwangyang-si Signs 228.1 Billion Won Investment Agreement Despite COVID-19 Situation

Four Companies Scheduled to Move into Gubongsan Tourist Complex and Western Back Area Complex

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Gwangyang City announced on the 26th that it signed an investment agreement with four companies, totaling 228.1 billion KRW in investment and creating 371 new jobs.

Through this investment agreement, Gwangyang City plans to create a specialized tourism complex unique to the city, revitalizing local tourism and contributing to the development of Gwangyang Port as an international logistics hub.

The Gubongsan Tourism Complex will be developed in the Hwanggeum-dong area of Gwangyang City with a total investment of 200 billion KRW. It will be a premium stay-type tourism complex where visitors can enjoy both relaxation and leisure, featuring accommodations, a healing forest, luge, and a golf course. It is expected to contribute to the local economy by creating about 300 jobs and will be promoted through the establishment of a new corporation by the LF consortium.

Thewon Logistics Co., Ltd. is a company pursuing brand value based on two pillars: container manufacturing and import-export logistics for e-mobility and feed raw materials. It plans to invest 10.9 billion KRW in the western hinterland of Gwangyang Port, creating 20 new jobs.

Seyang GLC Co., Ltd. plans to operate a global integrated logistics center specializing in container repair and manufacturing, as well as construction and automotive materials. It will invest 10 billion KRW in the western hinterland of Gwangyang Port, creating 40 jobs.

Taewoong Global Co., Ltd. plans to operate a complex logistics center to improve logistics efficiency for secondary battery materials and automotive DKD. It will invest 7.2 billion KRW in the western hinterland of Gwangyang Port, creating 11 jobs.

Jung Hyun-bok, Mayor of Gwangyang City, said, “We are grateful to the companies that invested in Gwangyang despite the difficult COVID-19 situation,” and added, “We will actively support the contracted companies to realize their investments quickly and strive to foster growth engines for the local economy.”

Meanwhile, since the 7th local government administration, Gwangyang City has signed investment agreements with 93 companies totaling 2.192 trillion KRW. Despite the COVID-19 situation this year, as of November, it has signed investment agreements with 16 companies totaling 1.3417 trillion KRW.

The city plans to continue actively attracting investment centered on new materials businesses related to the 4th Industrial Revolution and expand differentiated corporate support systems to grow as the number one economic city in Jeonnam Province.