Sacheon City Establishes Itself as Space Capital ... Signs Investment Agreement with Aviation Companies

Eco Graphene, AST, PMI Biotech, Woosung Precision and 4 Other Companies Invest 47.8 Billion KRW

Gyeongnam Sacheon City, which is establishing itself as the space capital of the Republic of Korea, is gaining attention as a business-friendly city by signing an investment agreement worth 50 billion KRW with aviation companies and others.

According to Sacheon City on the 4th, an investment agreement was signed in the morning at the Gyeongnam Provincial Government meeting room with four companies: Eco Graphene, AST, PMI Biotech, and Woosung Precision.

The investment agreement ceremony was attended by about 20 people, including Governor Park Wan-su, Jinju Mayor Jo Gyu-il, Sacheon Mayor Park Dong-sik, Goseong County Governor Lee Sang-geun, Hamyang County Governor Jin Byeong-young, and representatives of the investing companies.

Aerial view of Sacheon City Hall.

These four companies will invest a total of 47.8 billion KRW in the Gyeongnam Aviation National Industrial Complex (Sacheon district), Jongpo General Industrial Complex, and other areas in Sacheon City, and plan to hire 550 new employees.

Eco Graphene will invest about 20.7 billion KRW in the Gyeongnam Aviation National Industrial Complex (Sacheon district) to build a factory to respond to the explosive demand increase for secondary batteries and multifunctional composite materials. The new employment plan is for 79 people.

Located in Cheonan City, it is a company that manufactures graphene and produces graphene-based applied products.

PMI Biotech, located in Geoje City, is a manufacturing company producing calcium products added to food and nutritional supplements, and plans to invest 10 billion KRW and hire 40 new employees in the Sacheon City area.

AST, a company located in the region that produces aircraft parts and fuselages, plans to expand mid- to long-term investments by investing 11.1 billion KRW to expand its factory and confirming the hiring of 451 new employees in response to the increased demand for aircraft parts production.

Woosung Precision, a company producing aircraft parts located in Gimhae City, has confirmed an investment of 6 billion KRW and the hiring of 16 new employees to increase production volume and promote new business plans after COVID-19.

Mayor Park Dong-sik said, “We will actively promote bold investment attraction and support-centered proactive administration so that companies investing in Sacheon, an international city where the aerospace complex city is being established, can have the perception that they will succeed.”