Gyeongdong Polyum Invests 160 Billion Won in Pyeongtaek

Boiler Parts Factory to Be Established in Seotan General Industrial Complex

A corporate investment worth 160 billion KRW has been attracted to the Seotan General Industrial Complex in Pyeongtaek-si, Gyeonggi-do.

Jang Hee-cheol (third from left), CEO of Kyungdong Polyum, and Jeong Jang-seon (fourth from left), Mayor of Pyeongtaek, are holding up the investment agreement. Photo by Pyeongtaek City

On the 18th, Pyeongtaek City announced that it signed an investment agreement with Kyungdong Polyum at the City Hall External Cooperation Office. Kyungdong Polyum is a parts company of Kyungdong Navien, specializing in core components such as water piping modules used in boilers, water heaters, and heated mats.

According to the agreement, Kyungdong Polyum plans to invest a total of 160 billion KRW to build a new factory on 49,600㎡ of industrial facility land within the Seotan General Industrial Complex. The city explained that this investment is expected to create 350 new jobs.

The Seotan General Industrial Complex is being developed on a 280,000㎡ site in Suwollam-ri, Seotan-myeon, consisting of industrial facility land, support facility land, mixed-use land, and public facility land. The complex is scheduled to be completed by December this year.

Jung Jang-seon, mayor of Pyeongtaek City, said, "We thank Kyungdong Polyum for deciding to invest despite the difficult economic situation," and added, "We will spare no administrative support to ensure there are no difficulties in establishing the factory and operating the business."