Gwangyang Economic Zone Authority Conducts Investment Attraction Activities for Korea Foreign Companies Association Members

Attended the Materials and Energy Division Day Event to Request Investment in the Secondary Battery Sector of the Gwangyang Bay Area

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] The Gwangyang Bay Area Free Economic Zone Authority (Director Song Sangrak, hereinafter Gwangyang Economic Authority) announced on the 5th that it held an investment attraction briefing session for about 40 member companies at the Korea Foreign Companies Association* Materials, Energy, Chemicals, and Bio Subcommittee Day event held at the Grand Intercontinental Hotel in Seoul.

At the investment attraction briefing session, the Gwangyang Economic Authority introduced the Sepung Industrial Complex, Hwanggeum Industrial Complex, and the hinterland of Gwangyang Port, with a particular focus on explaining the strengths of the secondary battery industry, where recent investment expansion has been made in core strategic industries such as cathode materials and battery materials. In addition, success cases of foreign-invested companies and incentive systems were also introduced.

Song Sangrak, Director of the Gwangyang Economic Authority, emphasized at a meeting with company representatives, “The Gwangyang Bay Area has favorable conditions for foreign-invested companies aiming to enter the global market, such as Gwangyang Port, an international trading port, excellent industrial infrastructure, and low rental fees. Recently, it is re-emerging as an industrial hub for the secondary battery materials industry centered on POSCO Chemical.”

The foreign-invested company representatives and executives who attended the event showed great interest in the investment environment of the Gwangyang Bay Area, its geographical advantages, and success cases of foreign-invested companies utilizing FTAs.

The Gwangyang Economic Authority plans to continuously promote and hold investment briefing sessions through the Foreigners' Day event hosted by the Ministry of Trade, Industry and Energy and the KOTRA Investment Week (IKW) in November, and subsequently invite companies interested in investment to conduct on-site visits to the Gwangyang Bay Area.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik hss79@asiae.co.kr