Investment Agreement Signed with Three Companies Including Foreign-Invested Enterprises for 184.7 Billion KRW
Gyeongnam Sacheon City, where the Korean version of NASA and the Aerospace Administration Agency are set to be established, has been recognized as a city favorable for business operations. Three companies, including foreign-invested enterprises, signed investment agreements worth approximately 180 billion KRW with Sacheon City.
According to Sacheon City on the 31st, on the 30th, an investment agreement worth 184.7 billion KRW was signed with three companies?Korea Gyeongnam Solar Energy, AR Aluminum, and S&K Aviation?at the Opera Hall of Busan Grand Moment Youth Hostel.
The agreement was attended by Koichi Ando, CEO of Korea Gyeongnam Solar Energy; Soonkyung Kim, CEO of AR Aluminum; Cheolwoo Lee, CEO of S&K Aviation; Gyeongsangnam-do Governor Wansu Park; and Mayor Dongsik Park.
Korea Gyeongnam Solar Energy agreed to invest 117.8 billion KRW of foreign capital in Sacheon’s 1st General Industrial Complex to respond to the global increase in demand. The expected number of new jobs is 100.
Korea Gyeongnam Solar Energy, located in Sacheon City, is a foreign-invested company producing multilayer ceramic capacitors for automobiles and electronic devices. Multilayer ceramic capacitors are components that regulate the flow of current in electronic product circuits to maintain a steady current.
AR Aluminum, based in Sacheon City, is a company producing electric vehicle battery cases and has agreed to attract 63.3 billion KRW of foreign capital to respond to the rapidly growing electric vehicle market.
The investment is planned for the foreign investment zone in Sanam-myeon, Sacheon City, with an expected 52 new jobs. S&K Aviation has confirmed an investment of 3.6 billion KRW and 85 new jobs in Sacheon’s 1st General Industrial Complex to prepare for increased orders.
S&K Aviation, located in Sacheon City, produces core structures for the TA-50 and the Korean launch vehicle Nuri.
Sacheon City has set revitalizing the local economy as its administrative goal for this year and achieved large-scale investment attraction through proactive administration, including expanding investment incentives, establishing industrial complexes for investment attraction, and sending market proposal letters.
Mayor Park said, “During these challenging domestic and international times, we will do our best to provide active support and various incentives so that companies that boldly invest in Sacheon City can grow successfully.”
He added, “We will continue to actively attract excellent companies to create jobs for young people and increase the local population.”
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