Sacheon Mayor Park Dongsik Achieves 1.2 Trillion Won in Investment Attraction

Investment Agreements Worth 285.3 Billion Won Signed with 8 Companies Including Aviation Firms
Expected Effects Realized, Including Investment Attraction Following the Opening of the Korea AeroSpace Administration

Park Dongsik, Mayor of Sacheon City in Gyeongnam, has set a major record by attracting investments totaling 1.2 trillion KRW within just two years of taking office.

On the 22nd, Mayor Park will sign investment agreements for relocation and new/expanded facilities in Sacheon with eight companies: Korea Aerospace Maintenance & Engineering (KAEMS), Kencoa Aerospace, Daedong Gear, IOPS, Korea Chemical Tempered Glass, Dream CNC, Shinheung, and Doowon Heavy Industries at the Gyeongnam Provincial Government conference room.

These companies will invest 285.3 billion KRW in the National Aerospace Industrial Complex and Daedong General Industrial Complex, creating 886 new jobs. The company making the largest investment is Shinheung with 132 billion KRW, while the smallest is Dream CNC with 10.8 billion KRW.

Group photo of Mayor Dongsik Park visiting Daedong Gear (confirmed investment company) site.

Kencoa Aerospace will invest 40 billion KRW, Daedong Gear 30 billion KRW, Korea Chemical Tempered Glass 27.5 billion KRW, IOPS 20 billion KRW, KAEMS 13.5 billion KRW, and Doowon Heavy Industries 11.5 billion KRW. Shinheung will also hire the most employees, with 323 new jobs.

Following Shinheung, Korea Chemical Tempered Glass will hire 218 people, Kencoa Aerospace 131, Daedong Gear 58, KAEMS 50, Doowon Heavy Industries 44, Dream CNC 32, and IOPS 30.

With this agreement, the city will have attracted investments from 13 companies totaling 401.4 billion KRW in 2024 alone, setting a record of 1.2 trillion KRW in investment attraction within two years of Mayor Park's inauguration.

This achievement is seen as the tangible realization of anticipated benefits from the establishment of the Space and Aerospace Agency, including the attraction of aerospace-related companies, the relocation of related institutions, and the launch of new projects.

In particular, the results are attributed to Mayor Park Dongsik's relentless investment sales efforts, such as regular visits to encourage companies in the space, aerospace, defense, and automotive industries, diversifying the industrial base, revitalizing the economy, creating jobs, and focusing on building a space-aerospace complex city.

Mayor Park Dongsik stated, "When companies are attracted, the city and province provide administrative and financial support, but in reality, Sacheon City is the biggest beneficiary," adding, "We will provide maximum support so that companies can take root in Sacheon, which is being developed as a space-aerospace complex city, and grow into mid-sized and large enterprises."