New and Expanded Production Plants in Cheonan, Asan, and Dangjin
Chungnam Province has attracted global corporate investments totaling 200 million dollars.
On the 19th, Governor Kim Tae-heum signed a joint investment agreement (MOU) with Yang Seungkwan, CEO of DuPont Specialty Materials Korea (USA), Van Hol, President of Corning Precision Materials (USA), Han Sangyun, CEO of Towa Korea (Japan), and Choi Yongdu, Plant Manager of Webasto Korea Holdings (Germany).
According to the agreement, the four companies will invest 200 million dollars in Cheonan, Asan, and Dangjin to build new and expand existing production plants, creating 307 jobs.
DuPont Specialty Materials Korea, which has been operating production facilities in Cheonan since 1998, will build new and expand existing semiconductor material production and research facilities on a 5,500-square-meter site within the Cheonan Foreign Investment Zone.
Corning, a global innovation leader in precision glass and ceramics, plans to invest in upgrading production facilities at Asan Corning Precision Materials.
Towa Korea will newly expand manufacturing facilities for high-bandwidth memory (HBM) molding equipment for semiconductors on a 16,136-square-meter site in Cheonan Industrial Complex 3.
Webasto Korea will expand its electric vehicle battery pack production plant within the Songsan Foreign Investment Zone in Dangjin.
The four companies plan to begin construction in the second half of the year, with full-scale production expected to start as early as the end of next year.
Governor Kim stated, "Through this agreement, we have strengthened the competitiveness of our key industries such as semiconductors, displays, and secondary batteries, and further reinforced the industrial ecosystem. We will continue to provide unwavering support so that these companies can firmly establish themselves in Chungnam and grow together."
Meanwhile, since the launch of the 8th popularly elected administration, including this agreement, the province has successfully attracted investments from 168 companies totaling 19.7288 trillion won.
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