Miryang Nano Convergence National Industrial Complex, Corporate Investment Agreement Signed

On the 30th, Miryang City in Gyeongnam signed an 'Investment Agreement for the Miryang Nano Convergence National Industrial Complex' with GGV Motors and Unitec Industry.

The signing ceremony held in Busan was attended by Park Wan-su, Governor of Gyeongnam Province; Park Il-ho, Mayor of Miryang; Choo Yoon-sik, CEO of GGV Motors; Lee Min-gi, CEO of Unitec Industry; Jung Sung-si, Head of the Gyeongnam Regional Headquarters of Korea Land & Housing Corporation (LH); Park Byung-gyu, Head of the Gyeongnam Regional Headquarters of Korea Industrial Complex Corporation; and other company officials.

Miryang City Promotes On-site Meeting of TF Team for Revitalization of Nano Convergence Industrial Complex. [Image provided by Miryang City]

GGV Motors plans to build a factory with a large-scale investment on a 24,924㎡ site within the Miryang Nano Convergence National Industrial Complex to produce electric vehicle parts, hydrogen container products, and carbon composite materials applying nanotechnology.

Additionally, the company is expanding its business area into advanced materials by developing special alloy steel raw materials for high-performance new materials for composites and eco-friendly new renewable materials.

Unitec Industry will build a factory on an 8,598㎡ site within the Miryang Nano Convergence National Industrial Complex to produce eco-friendly coatings for glass fiber composite materials applying nanotechnology.

Established in 1995, Unitec Industry recorded sales of 7.6 billion KRW last year through about 60 domestic customers. The sales growth rate over the past three years has been 38%, showing high growth, and through active collaboration with customers, it is maximizing the functionality of composite materials to target the monopolized markets in Japan and Europe.

CEOs Choo Yoon-sik and Lee Min-gi said, “We plan to build smart production facilities by utilizing Miryang City's excellent location and the infrastructure of the Nano Convergence National Industrial Complex,” adding, “We will strive to become a representative company of Miryang by developing the latest technologies and eco-friendly products in harmony with the local community.”

Mayor Park Il-ho said, “We thank the company representatives who trusted and chose Miryang,” and added, “We will do our best to support the smooth achievement of the companies’ planned investments and stable management so that they can take root in Miryang.”