Gwangju City Signs Investment Agreement Worth 248.6 Billion KRW with 21 Companies in Automotive and AI Sectors

Expected Effect of Creating Approximately 760 Jobs

Gwangju Metropolitan City (Mayor Kang Gi-jung) announced on the 20th that it signed investment agreements (MOU) with 21 companies in the automobile, artificial intelligence (AI), energy, and medical industries at the City Hall Business Room.

Through this, Gwangju expects to achieve an investment amount of 248.6 billion KRW and create approximately 760 jobs.

The signing ceremony was held with the attendance of Mayor Kang Gi-jung, Seon Seok-gi, Director of the Gwangju Free Economic Zone Authority, and representatives of the investing companies.

The companies signing the investment agreements include 11 local companies and 10 non-local companies: ▲DHO Autoware Co., Ltd. (Seoul) ▲DN Co., Ltd. (Miryang, Gyeongnam) ▲YSP Co., Ltd. (Gwangju) ▲Suryong Industry Co., Ltd. (Jangseong, Jeonnam) ▲Korea IMC Co., Ltd. (Gwangju) ▲SC Tech Co., Ltd. (Gwangju) ▲JK Best Co., Ltd. (Gwangju) ▲A2G System Co., Ltd. (Cheongju, Chungbuk) ▲Ghost Pass Co., Ltd. (Gwangju) ▲iMeditech Co., Ltd. (Gwangju) ▲PineT Korea Co., Ltd. (Jangseong, Jeonnam) ▲Daeil Tech Co., Ltd. (Eumseong, Chungbuk) ▲Green Core Co., Ltd. (Naju, Jeonnam) ▲Case Lab Co., Ltd. (Suwon, Gyeonggi) ▲Gwanghyun ENP Co., Ltd. (Jeonju, Jeonbuk), among others.

By industry, there are 11 companies related to automobiles, including electric vehicle parts manufacturing; 6 companies engaged in AI convergence research and development; 2 companies in the energy sector, including energy storage device manufacturing; and 2 medical bio companies, representing key industries of Gwangju.

Regarding the investment details, DHO Autoware Co., Ltd., a KOSDAQ-listed company headquartered in Seoul, supplies audio, video, and other electronic components to numerous domestic and international automobile companies based on excellent technology and production capacity.

To proactively respond to securing global automotive competitiveness through investment, it will build a smart factory for automobile parts production in Gwangju.

DN Co., Ltd. is an innovative automobile parts company headquartered in Chunhwa Industrial Complex, Miryang, Gyeongnam, with outstanding technology in the automotive interior materials field. It plans to establish a factory in Gwangju for developing and producing sound-absorbing materials optimized for lightweight vehicles and continue investing as a specialized interior materials factory.

YSP Co., Ltd., an affiliate of Yongsan Co., Ltd., specializes in manufacturing automobile parts and CKD (completely knocked down) export packaging. It plans to remodel its Gwangju factory to establish facilities for producing and supplying battery cell modules for automobile parts.

Suryong Industry Co., Ltd., located in Jangseong, Jeonnam, develops and produces high-quality cable ties, connectors, and other automobile parts. To expand its manufacturing base and strengthen technological capabilities, it will invest in facilities in the Bitgreen National Industrial Complex.

Korea IMC Co., Ltd., located in Pyeongdong Industrial Complex, Gwangju, is a company with long experience and precise technology, stably producing automotive parts such as vehicle switches. In line with the trend of automotive premiumization, it will build a second factory in Gwangju to produce high-quality electronic components.

SC Tech Co., Ltd., based in Pyeongdong Industrial Complex, Gwangju, manufactures automobile body parts. It plans to establish a new factory for developing new items and mass production for new vehicle models.

JK Best Co., Ltd. specializes in secondary battery equipment and plans to expand its factory for mass production of secondary battery equipment and vacuum pump parts.

A2G System Co., Ltd., located in Cheongju, Chungbuk, is a system integration (SI), information and communication technology (ICT), and AI specialized company developing public service and mobile service solutions.

It will establish a corporate research institute as an independent corporation in Gwangju to invest in focused research and product and solution development in AI and ICT fields.

Ghost Pass Co., Ltd., founded in Gwangju, has developed innovative technology in the remote biometric authentication solution field and achieved multiple successes, including selection for the 2023 Samsung C-LAB Outside program. It will establish its headquarters and research institute in the AI Convergence District to expand business and strengthen technology development.

iMeditech Co., Ltd. is a convergence medical product specialist producing nanofiber artificial blood vessels and nanofiber wound dressings. It is located in the Advanced Micro Medical Robot Support Center and plans to develop and produce medical products using nanofiber manufacturing technology, precise drug coating technology, surface patterning technology, and surface modification technology.

PineT Korea Co., Ltd. is the only domestic company producing biodegradable composite materials for medical use. It is located in the Advanced Micro Medical Robot Development Support Center and will invest in facilities to produce bioabsorbable medical devices and convergence medical products.

Daeil Tech Co., Ltd., headquartered in Eumseong, Chungbuk, produces concrete 3D hollow block products and holds outstanding technology in this field. It plans to establish a research and development (R&D) base at GIST and strengthen research functions for AI-based convergence products.

Green Core Co., Ltd., located in Naju, Jeonnam, is a promising energy sector company. It will establish a research institute and factory in the Energy Valley General Industrial Complex for research, development, and production of electric vehicle charging/discharging devices and energy storage devices.

Case Lab Co., Ltd., headquartered in Suwon, Gyeonggi, manufactures industrial robots and develops autonomous driving software. It will build a research institute in the AI Convergence District to invest in autonomous driving software development and research.

Gwanghyun ENP Co., Ltd., located in Jeonju, Jeonbuk, is a battery manufacturer that has secured domestic major corporations as customers based on excellent quality. To improve production capacity, it will build an electric vehicle battery factory in the Energy Valley General Industrial Complex.

Mayor Kang Gi-jung of Gwangju said, "We are making entrepreneurship and demonstration a pillar of urban growth and creating 'Gwangju, a city good for business.' We will become one team with companies so that this investment agreement leads to actual investment and creates a rich industrial ecosystem. We will do our best administratively to nurture future growth engines, jobs, and industries."

Gwangju City is focusing on creating a favorable investment environment by providing customized information and services for companies, including resolving obstacles from the investment attraction stage, administrative and financial support, and listening to difficulties, to ensure smooth settlement of investing companies.