Gwangju City and 9 Companies Sign Investment Agreement Totaling 57.3 Billion Won

Expected to Create Jobs for Over 340 People

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju Metropolitan City announced on the 11th that it signed investment agreements (MOU) with nine domestic companies for a total investment of 57.3 billion KRW and the creation of over 340 jobs.

At the signing ceremony, Mayor Lee Yong-seop and the nine investment attraction companies participated, along with Gwangju Technopark and Gwangju Information & Culture Promotion Agency to support investment in the artificial intelligence industry and cultural content industry sectors.

The companies signing the investment agreements are ▲ Moa SNP Co., Ltd. ▲ YSP Co., Ltd. ▲ Blue Eye Co., Ltd. ▲ Rowan Co., Ltd. ▲ CG Bio Co., Ltd. ▲ Pulse Nine Co., Ltd. ▲ Cocktail Media Co., Ltd. ▲ Pickboard Co., Ltd. ▲ Dawon DNS Co., Ltd.

These companies will invest in Gwangju to establish new or expand existing manufacturing plants and research institutes in the automotive industry, artificial intelligence industry, medical industry, and cultural content industry sectors.

Moa SNP Co., Ltd. is a company certified as a Service Quality (SQ) excellence institution specializing in automotive plastic parts painting, located in Pyeongdong 2nd Industrial Complex. Through this agreement, it will invest 5.7 billion KRW to expand its factory by building a robot-automated painting line on its existing 5,422㎡ site in Pyeongdong 2nd Industrial Complex.

YSP Co., Ltd. has automotive parts production facilities in Pyeongdong 3rd Industrial Complex and possesses outstanding technology in the CKD (Complete Knock Down) field.

To expand its business areas including Russian CKD volume production and vehicle air conditioning device manufacturing, it will invest 35 billion KRW to expand its factory on a 44,254㎡ site in Pyeongdong 3rd Industrial Complex through this agreement.

Blue Eye Co., Ltd., located in Giheung-gu, Yongin-si, Gyeonggi-do, is a company with technology in automotive black box rear camera fields. To produce autonomous vehicle camera modules, it plans to invest 6.5 billion KRW to purchase a 1,700㎡ site in the Advanced 3 District and build a new factory, aiming to operate a full-scale production line by 2024.

Rowan Co., Ltd., a digital healthcare specialized company based in Seoul, developed Korea’s first hospital-prescribable digital therapeutic after completing clinical trials of the multi-domain certified mediation program Superbrain, which received new medical technology certification in 2017. It plans to invest 1 billion KRW by 2024 to establish a research institute in Gwangju for digital convergence dementia prevention treatment R&D.

CG Bio Co., Ltd., headquartered in Seoul with factories and research institutes in Hwaseong and Seongnam, Gyeonggi-do, is a manufacturer of polymer composite medical devices and related products. It is the world’s first company to develop and commercialize absorbable material stents and plans to invest 2.65 billion KRW by 2024 in the Advanced District to build polymer composite material development and production facilities.

Pulse Nine Co., Ltd., an AI imaging technology research company based in Seoul, and Cocktail Media Co., Ltd., which has produced mega-hit animations such as Shinbi Apartment and Bugs Bot, plan to open studios for content production in the cultural industry investment promotion district. Each company plans to invest 1 billion KRW.

Additionally, Pickboard Co., Ltd., a startup located in Yeosu specializing in application and integrated web service technology in the personal mobility (PM) sharing sector, a key icon of the 4th Industrial Revolution era, currently supplies services to the market and will invest 1 billion KRW in Gwangju for mobility-related application and web development.

Dawon DNS Co., Ltd., an electric circuit connection device manufacturer headquartered in Gwangju, plans to relocate its existing AI-based IoT smart device manufacturing plant from Hwaseong, Gyeonggi-do to Gwangju by 2024 with an investment of 3.5 billion KRW.

Some of these companies have already completed investments or land purchases and are progressing with their investments, while the others are preparing for actual investments by searching for sites.

Gwangju City continues to strive to create a favorable environment for investment and business by resolving investment obstacles and supporting administrative procedures to ensure early actual investment by the companies under the investment agreements.

Meanwhile, since the launch of the 7th local government, Gwangju City has achieved investment attraction agreements worth 1.7739 trillion KRW from 169 domestic and foreign companies, with new employment reaching about 5,800 people.

Mayor Lee Yong-seop said, “While reviewing the business directions and contents of the companies that signed the agreements, I thought that their innovative management philosophy and fearless spirit of challenge leading change resemble our Gwangju a lot,” and added, “We will actively support so that today’s investment agreements by the nine companies will be a choice without regret.”