'Companies Coming to Pohang' ... Pohang City Attracts 15.2 Billion KRW Investment from Daegu-based Company 'Daeji Steel'!

Pohang City signed a memorandum of understanding to attract an investment of 15.2 billion KRW with Daiji Steel, a company based in Daegu. (From left: Acting Mayor Jang-sik Lee, CEO Kyungho Lee of Daiji Steel)

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Dong-guk] On the 26th, Pohang City in Gyeongbuk signed a memorandum of understanding with Daeji Steel, which is promoting new factory investment in the Pohang Steel Industrial Complex, at the city hall.

Daeji Steel plans to invest a total of 15.2 billion KRW by April next year to establish a processing plant for color steel sheets and galvanized steel sheets equipped with the latest facilities on a 3,700-pyeong site within the Pohang Steel 2 Industrial Complex, and will newly hire about 20 employees.

Daeji Steel, headquartered in the Seongseo Industrial Complex in Daegu, is a mid-sized company operating as one of POSCO's cold rolling processing centers, processing and selling steel products such as color steel sheets and galvanized steel sheets.

With Daeji Steel's decision to make a new investment in Pohang, high-quality processed steel products will be supplied directly from Pohang, and Pohang companies that previously transported products from other regions are expected to significantly reduce labor and logistics costs.

In addition to the 20 direct employees of Daeji Steel, investment promotion and new job creation in various fields such as transportation and consumption of various subsidiary materials are expected, creating a virtuous cycle structure for revitalizing the local economy.

Recently, as inquiries for new investments from companies in other regions have flooded Pohang City, the relevant departments are making efforts to strengthen investment incentives and administrative support to create the optimal investment environment.

Acting Mayor Lee Jang-sik said, “I sincerely thank and welcome CEO Lee Kyung-ho of Daeji Steel for deciding to make a new investment in Pohang,” and added, “We will continue to make our best efforts to attract new investments from companies in other regions and revitalize the local economy through active investment attraction activities.”