Samsung Electronics Co., Ltd. to Begin Construction of Advanced Logistics Center in Gochang Next Year with 300 Billion KRW Investment

Gochang New Vitality Industrial Complex Spanning 54,000 Pyeong... Employment of About 500 People

Samsung Signs First Investment Agreement in Jeonbuk... Largest Advanced Logistics Center in Honam Region

Samsung Electronics has signed its first investment agreement in Jeonbuk and will invest 300 billion KRW in the Gochang New Vitality Industrial Complex to establish a large-scale advanced logistics center in the Honam region.

According to Jeonbuk Province and Gochang County on the 25th, Samsung Electronics Co., Ltd. signed an investment agreement with these parties. The signing ceremony was attended by Kim Kwan-young, Governor of Jeonbuk Province, Shim Deok-seop, Mayor of Gochang County, Yoon Joon-byung, Member of the National Assembly, Yoon Yeo-bong, Director of the Economic and Trade Promotion Agency, and executives including Kim Dong-wook, Vice President of Samsung Electronics Co., Ltd.

A Jeonbuk Province official stated, "This is the first case of Samsung establishing a large-scale business site in Jeonbuk Province," adding, "It is a large-scale investment exceeding 200 billion KRW in the tourism sector and areas outside Saemangeum during the 8th local government administration."

Samsung Electronics Seocho Building. [Photo by Jinhyung Kang aymsdream@]

Samsung Electronics Co., Ltd., headquartered in Suwon, Gyeonggi Province, is a world-class company manufacturing semiconductors and electronic products, and will establish a large-scale logistics center in the Honam area to facilitate smooth logistics and distribution in the southern region.

Samsung Electronics Co., Ltd. will purchase approximately 54,000 pyeong (about 178,512 square meters) of the Gochang New Vitality Industrial Complex to build an advanced logistics center integrated with automation technology. The logistics center will proceed with architectural design and preliminary procedures for permits and approvals within this year, begin construction next year, and aim for completion by 2026.

The province expects Samsung Electronics Co., Ltd. to invest a total of 300 billion KRW in the logistics center and create approximately 500 direct and indirect jobs.

Governor Kim Kwan-young said, "We sincerely welcome the investment of the large corporation Samsung Electronics Co., Ltd. in Jeonbuk," and added, "We will ensure there are no inconveniences for corporate activities in Jeonbuk and actively support Samsung Electronics Co., Ltd. to grow even further."

Mayor Shim Deok-seop stated, "With Samsung Electronics Co., Ltd.'s first large-scale investment in Gochang County, we expect it to be a major catalyst for the development and revitalization of the local economy," and added, "We will do our best to attract advanced ESG companies to the Gochang New Vitality Industrial Complex, using this investment agreement as a starting signal."

Meanwhile, the province views this investment agreement as a large-scale investment occurring outside Saemangeum, where corporate attraction has recently been concentrated, and presented the possibility of successful investment attraction by utilizing the geographical characteristics and differentiated incentives of cities and counties.

The province plans to continue efforts to attract companies evenly across all 14 cities and counties based on their strengths and specialized strategies.