Jun Engineering, CKD, Ajin PNP, and Others Join Jinju, Geoje, Changnyeong, Hadong, and Sancheong
Gyeongsangnam-do signed an investment agreement on the 13th to revitalize the economy of western Gyeongnam.
[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongsangnam-do signed agreements on the 13th with Jun Engineering, CKD, Ajin P&P, Suhyup Feed, and Hyosung Food Agricultural Cooperative Corporation.
Gyeongnam Province concluded investment agreements together with Jinju City, Geoje City, Changnyeong County, Hadong County, and Sancheong County.
Attending the signing ceremony were Ha Byungpil, Acting Governor of Gyeongsangnam-do; Jeon Hyeongjin, CEO of Jun Engineering; Jang Gwansoon, CEO of CKD; Kim Yongsu, General Manager of Ajin P&P; Jo Hyeongchan, CEO of Suhyup Feed; and Kang Gihong, CEO of Hyosung Food Agricultural Cooperative Corporation.
Also present were Jo Gyu-il, Mayor of Jinju; Byeon Gwangyong, Mayor of Geoje; Han Jeongwoo, County Governor of Changnyeong; Yoon Sanggi, County Governor of Hadong; and Lee Jaegun, County Governor of Sancheong.
Jun Engineering will invest 28 billion KRW in a site within the Jinju district of the Gyeongnam Aviation National Industrial Complex to establish manufacturing facilities for aircraft parts and a research institute and factory related to marine plants.
CKD will invest 30 billion KRW in the Sadong-ri area of Sadong-myeon, Geoje City, to establish manufacturing facilities for ship components.
Ajin P&P, headquartered in Daegu, plans to invest 40 billion KRW to build a packaging material production plant in the Daeseong Highsko General Industrial Complex in Changnyeong County, aiming to recycle raw materials used in packaging production and waste paper generated during distribution.
Suhyup Feed, together with the Provincial Fisheries Resources Department, was finally selected in March through a public contest supported by the Ministry of Oceans and Fisheries to establish a specialized aquaculture feed production facility, and will build a production plant worth 25.1 billion KRW in the Daesong Industrial Complex in Hadong County.
Hyosung Food Agricultural Cooperative Corporation will invest 6 billion KRW in the Sancheong Korean Medicine Anti-Aging General Industrial Complex in Sancheong County to develop new functional foods suited to regional characteristics.
As a specialized Korean rice confectionery and bakery company, it will be the first to move into the Sancheong Korean Medicine Anti-Aging General Industrial Complex since Gyeongnam Province designated it as an investment promotion district.
A provincial official anticipated that with the participation of these five companies, investments totaling 129.1 billion KRW will be made, creating more than 260 new jobs.
They expect this to revitalize the local economy, enhance the competitiveness of Gyeongnam’s aviation, shipbuilding, and future industries, and serve as an opportunity to advance balanced regional development in western Gyeongnam and beyond.
Gyeongnam Province plans to focus on regional economic recovery and youth job creation this year by establishing customized investment attraction strategies for each industrial sector.
They also plan to promote Gyeongnam as an attractive investment region by providing systematic post-investment support to companies.
Ha Byungpil, Acting Governor of Gyeongsangnam-do, said, “We will provide systematic support so that corporate investments can yield good results,” adding, “We will work to resolve companies’ difficulties together and make Gyeongnam a business-friendly province.”
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